Brokerages Set Tenable Holdings, Inc. (NASDAQ:TENB) Price Target at $40.44

Shares of Tenable Holdings, Inc. (NASDAQ:TENB) have been given a consensus recommendation of “Moderate Buy” by the nineteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $40.44.

TENB has been the subject of a number of research reports. JPMorgan Chase & Co. reduced their price target on shares of Tenable from $53.00 to $43.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. Robert W. Baird decreased their target price on Tenable from $44.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Cantor Fitzgerald initiated coverage on Tenable in a research report on Monday, March 31st. They issued an “overweight” rating and a $50.00 price target for the company. Westpark Capital reissued a “hold” rating on shares of Tenable in a research note on Wednesday, April 30th. Finally, UBS Group cut their target price on shares of Tenable from $47.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th.

Tenable Price Performance

Shares of NASDAQ:TENB opened at $31.30 on Monday. Tenable has a 52 week low of $28.75 and a 52 week high of $49.18. The company has a 50-day moving average price of $34.07 and a 200 day moving average price of $38.60. The company has a market cap of $3.76 billion, a P/E ratio of -104.33 and a beta of 0.83. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.88.

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

Insider Buying and Selling

In related news, CEO Mark C. Thurmond sold 1,341 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $39.56, for a total value of $53,049.96. Following the transaction, the chief executive officer now directly owns 41,266 shares of the company’s stock, valued at approximately $1,632,482.96. This trade represents a 3.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Stephen A. Vintz sold 6,681 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $38.16, for a total transaction of $254,946.96. Following the completion of the sale, the chief executive officer now directly owns 316,523 shares of the company’s stock, valued at $12,078,517.68. The trade was a 2.07 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,128 shares of company stock worth $539,256. 1.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tenable

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC lifted its position in shares of Tenable by 31.9% during the third quarter. Barclays PLC now owns 731,626 shares of the company’s stock worth $29,646,000 after purchasing an additional 177,048 shares in the last quarter. Virtu Financial LLC purchased a new position in Tenable in the 3rd quarter valued at about $282,000. Tidal Investments LLC grew its stake in shares of Tenable by 19.4% during the third quarter. Tidal Investments LLC now owns 31,518 shares of the company’s stock valued at $1,277,000 after acquiring an additional 5,116 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Tenable by 7.3% during the third quarter. Franklin Resources Inc. now owns 448,586 shares of the company’s stock worth $18,984,000 after acquiring an additional 30,530 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in shares of Tenable by 10.4% in the fourth quarter. Nordea Investment Management AB now owns 267,519 shares of the company’s stock worth $10,489,000 after acquiring an additional 25,247 shares in the last quarter. 89.06% of the stock is owned by institutional investors and hedge funds.

About Tenable

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.