Tenable (NASDAQ:TENB) Hits New 1-Year Low Following Analyst Downgrade

Tenable Holdings, Inc. (NASDAQ:TENB)’s share price reached a new 52-week low during trading on Wednesday after Barclays lowered their price target on the stock from $40.00 to $33.00. Barclays currently has an equal weight rating on the stock. Tenable traded as low as $28.75 and last traded at $30.38, with a volume of 453056 shares. The stock had previously closed at $33.68.

Other analysts have also recently issued research reports about the company. Robert W. Baird reduced their price objective on Tenable from $44.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday. Stephens initiated coverage on Tenable in a research report on Tuesday, April 1st. They set an “equal weight” rating and a $42.00 price objective for the company. Wells Fargo & Company cut their price target on Tenable from $50.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday. Cantor Fitzgerald initiated coverage on Tenable in a report on Monday, March 31st. They set an “overweight” rating and a $50.00 price target for the company. Finally, Morgan Stanley cut their price target on Tenable from $40.00 to $30.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $41.74.

Insider Activity

In related news, CEO Stephen A. Vintz sold 6,681 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $38.16, for a total value of $254,946.96. Following the sale, the chief executive officer now owns 316,523 shares in the company, valued at approximately $12,078,517.68. The trade was a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Linda Kay Zecher sold 2,500 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $37.00, for a total transaction of $92,500.00. Following the completion of the sale, the director now owns 353 shares in the company, valued at $13,061. This represents a 87.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,128 shares of company stock worth $539,256 over the last quarter. Insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Tenable

Several large investors have recently bought and sold shares of the business. MQS Management LLC bought a new stake in Tenable in the first quarter worth $267,000. CWM LLC boosted its stake in Tenable by 962.5% during the first quarter. CWM LLC now owns 5,801 shares of the company’s stock worth $203,000 after buying an additional 5,255 shares during the period. Caas Capital Management LP purchased a new position in Tenable during the first quarter worth $301,000. Xponance Inc. boosted its stake in Tenable by 6.6% during the first quarter. Xponance Inc. now owns 9,021 shares of the company’s stock worth $316,000 after buying an additional 562 shares during the period. Finally, Penserra Capital Management LLC boosted its stake in Tenable by 47.6% during the first quarter. Penserra Capital Management LLC now owns 1,687,589 shares of the company’s stock worth $59,031,000 after buying an additional 544,375 shares during the period. Institutional investors own 89.06% of the company’s stock.

Tenable Price Performance

The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.88. The firm’s 50 day simple moving average is $34.63 and its 200 day simple moving average is $38.91. The company has a market capitalization of $3.69 billion, a PE ratio of -102.47 and a beta of 0.88.

Tenable (NASDAQ:TENB) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.28 by $0.08. The company had revenue of $239.14 million during the quarter, compared to analyst estimates of $234.12 million. Tenable had a negative net margin of 4.03% and a negative return on equity of 2.07%. Tenable’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.25 earnings per share. As a group, research analysts anticipate that Tenable Holdings, Inc. will post 0.12 EPS for the current fiscal year.

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.