Scotiabank Initiates Coverage on Tenable (NASDAQ:TENB)

Research analysts at Scotiabank initiated coverage on shares of Tenable (NASDAQ:TENB) in a research note issued to investors on Friday, MarketBeat reports. The firm set a “sector perform” rating and a $47.00 price target on the stock. Scotiabank’s target price would suggest a potential upside of 2.20% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Susquehanna boosted their price objective on shares of Tenable from $55.00 to $60.00 and gave the company a “positive” rating in a report on Thursday, February 8th. Wells Fargo & Company boosted their price objective on shares of Tenable from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Truist Financial boosted their price objective on shares of Tenable from $50.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Stephens boosted their price objective on shares of Tenable from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $62.00 target price on shares of Tenable in a report on Tuesday, April 23rd. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $57.20.

Tenable Trading Up 1.3 %

Shares of NASDAQ TENB opened at $45.99 on Friday. The firm’s 50 day moving average price is $47.40 and its 200-day moving average price is $45.13. The company has a market cap of $5.46 billion, a PE ratio of -67.63 and a beta of 0.94. Tenable has a 52-week low of $33.85 and a 52-week high of $53.50. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.19 and a current ratio of 1.19.

Tenable (NASDAQ:TENB) last issued its earnings results on Tuesday, February 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.06. Tenable had a negative net margin of 9.80% and a negative return on equity of 15.19%. The firm had revenue of $213.31 million for the quarter, compared to the consensus estimate of $206.95 million. On average, equities research analysts expect that Tenable will post -0.12 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Stephen A. Vintz sold 5,216 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $46.22, for a total transaction of $241,083.52. Following the completion of the transaction, the chief financial officer now owns 238,593 shares in the company, valued at $11,027,768.46. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Stephen A. Vintz sold 5,216 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $46.22, for a total transaction of $241,083.52. Following the completion of the transaction, the chief financial officer now owns 238,593 shares in the company, valued at $11,027,768.46. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Stephen A. Vintz sold 200,000 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $46.93, for a total transaction of $9,386,000.00. Following the transaction, the chief financial officer now owns 257,256 shares of the company’s stock, valued at approximately $12,073,024.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 317,382 shares of company stock worth $15,021,615. 4.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Tenable

Several institutional investors have recently bought and sold shares of TENB. Vanderbilt University raised its stake in shares of Tenable by 51.4% in the fourth quarter. Vanderbilt University now owns 65,313 shares of the company’s stock valued at $3,008,000 after acquiring an additional 22,187 shares during the period. Mutual of America Capital Management LLC raised its stake in shares of Tenable by 39.3% in the fourth quarter. Mutual of America Capital Management LLC now owns 82,858 shares of the company’s stock valued at $3,816,000 after acquiring an additional 23,385 shares during the period. DekaBank Deutsche Girozentrale raised its stake in shares of Tenable by 60.0% in the third quarter. DekaBank Deutsche Girozentrale now owns 32,000 shares of the company’s stock valued at $1,419,000 after acquiring an additional 12,000 shares during the period. American Century Companies Inc. raised its stake in shares of Tenable by 15.9% in the third quarter. American Century Companies Inc. now owns 1,791,909 shares of the company’s stock valued at $80,278,000 after acquiring an additional 245,243 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Tenable by 6.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 801,267 shares of the company’s stock valued at $36,906,000 after acquiring an additional 48,410 shares during the period. Institutional investors own 89.06% of the company’s stock.

Tenable Company Profile

Tenable Holdings, Inc provides cyber exposure solutions for in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan. Its platforms include Tenable Vulnerability Management, a cloud-delivered software as a service that provides organizations with a risk-based view of traditional and modern attack surfaces; Tenable Cloud Security, a cloud-native cloud security solutions for security teams to continuously assess the security posture; Tenable Identity Exposure, a solution to secure Active Directory environments; Tenable Web App Scanning, which provides scanning for modern web applications; Tenable Lumin Exposure View, a measurement tool; Tenable Attack Surface Management, an external attack surface management solution; Tenable Security Center, an on-premises solution that provides a risk-based view of an organization's IT, security and compliance posture; and Tenable OT Security, an operational technology security solution which provides threat detection, asset tracking, vulnerability management, and configuration control capabilities.