Jefferies Financial Group Lowers Tenable (NASDAQ:TENB) Price Target to $24.00

Tenable (NASDAQ:TENB) had its target price decreased by research analysts at Jefferies Financial Group from $29.00 to $24.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Jefferies Financial Group’s price target indicates a potential upside of 19.70% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on TENB. Piper Sandler lowered their price target on shares of Tenable from $40.00 to $35.00 and set an “overweight” rating for the company in a research report on Monday, January 5th. JPMorgan Chase & Co. reduced their price target on Tenable from $44.00 to $40.00 and set an “overweight” rating on the stock in a research report on Monday, October 27th. Barclays decreased their price objective on Tenable from $33.00 to $28.00 and set an “equal weight” rating for the company in a report on Monday, January 5th. Scotiabank dropped their target price on Tenable from $37.00 to $31.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 30th. Finally, Needham & Company LLC decreased their price target on Tenable from $38.00 to $28.00 and set a “buy” rating for the company in a research note on Thursday, January 8th. Ten equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $34.41.

Tenable Trading Down 8.9%

TENB stock opened at $20.05 on Monday. The company has a market capitalization of $2.39 billion, a PE ratio of -74.26 and a beta of 0.63. The firm’s 50-day moving average is $24.06 and its 200 day moving average is $27.70. Tenable has a 12 month low of $19.58 and a 12 month high of $43.68. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.94 and a quick ratio of 0.94.

Insider Activity at Tenable

In related news, Director A Brooke Seawell sold 115,000 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $24.82, for a total value of $2,854,300.00. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.50% of the stock is owned by company insiders.

Institutional Trading of Tenable

Institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP acquired a new stake in shares of Tenable in the third quarter worth $25,000. Signaturefd LLC boosted its holdings in Tenable by 312.9% in the fourth quarter. Signaturefd LLC now owns 1,251 shares of the company’s stock valued at $29,000 after purchasing an additional 948 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new position in shares of Tenable during the 2nd quarter valued at about $37,000. Exchange Traded Concepts LLC purchased a new position in shares of Tenable during the 3rd quarter valued at about $45,000. Finally, Horizon Investments LLC acquired a new position in shares of Tenable in the 3rd quarter valued at about $45,000. 89.06% of the stock is currently owned by institutional investors and hedge funds.

About Tenable

Tenable Holdings, Inc is a global cybersecurity company specializing in vulnerability management and continuous threat exposure assessment. Headquartered in Columbia, Maryland, Tenable was founded in 2002 by Ron Gula and Jack Huffard to address the growing need for proactive network security solutions. Over the years, the company has evolved from a pioneer in open-source vulnerability scanning to a leading provider of comprehensive security platforms that help organizations identify, investigate and prioritize cyber risks across on-premises, cloud and operational technology environments.

At the core of Tenable’s product suite is Nessus, one of the industry’s most widely adopted vulnerability scanners.