Canaccord Genuity Group Lowers Tenable (NASDAQ:TENB) Price Target to $53.00

Tenable (NASDAQ:TENB) had its target price decreased by research analysts at Canaccord Genuity Group from $57.00 to $53.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 26.40% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Wedbush reiterated an “outperform” rating and issued a $65.00 target price on shares of Tenable in a report on Thursday, May 2nd. Baird R W upgraded shares of Tenable to a “strong-buy” rating in a report on Monday, July 15th. DA Davidson lowered shares of Tenable from a “buy” rating to a “neutral” rating and cut their price target for the company from $56.00 to $40.00 in a report on Thursday. Westpark Capital restated a “buy” rating and set a $54.00 price target on shares of Tenable in a report on Monday. Finally, Susquehanna cut their price target on shares of Tenable from $60.00 to $48.00 and set a “positive” rating on the stock in a report on Thursday. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $53.19.

Tenable Trading Down 8.7 %

Shares of Tenable stock traded down $3.99 during trading hours on Thursday, hitting $41.93. The company’s stock had a trading volume of 2,285,992 shares, compared to its average volume of 953,654. The business has a fifty day moving average of $42.45 and a 200 day moving average of $45.52. The company has a market capitalization of $4.98 billion, a PE ratio of -72.29 and a beta of 0.86. Tenable has a 1-year low of $33.85 and a 1-year high of $53.50. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.00.

Tenable (NASDAQ:TENB) last posted its quarterly earnings results on Wednesday, May 1st. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.03. The company had revenue of $215.96 million for the quarter, compared to the consensus estimate of $213.56 million. Tenable had a negative net margin of 8.18% and a negative return on equity of 10.40%. As a group, equities analysts forecast that Tenable will post -0.14 EPS for the current year.

Insiders Place Their Bets

In related news, Director Yoran Amit 70,000 shares of the stock in a transaction dated Tuesday, July 30th. The was disclosed in a document filed with the SEC, which is accessible through this link. In related news, COO Mark C. Thurmond sold 2,371 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $43.18, for a total transaction of $102,379.78. Following the completion of the transaction, the chief operating officer now directly owns 32,017 shares in the company, valued at approximately $1,382,494.06. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Yoran Amit 70,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The disclosure for this trade can be found here. Insiders sold 24,132 shares of company stock valued at $1,049,183 over the last ninety days. Corporate insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Tenable

A number of hedge funds have recently made changes to their positions in TENB. Corient Private Wealth LLC boosted its stake in shares of Tenable by 16.7% in the 4th quarter. Corient Private Wealth LLC now owns 77,383 shares of the company’s stock valued at $3,564,000 after purchasing an additional 11,088 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Tenable by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 981,899 shares of the company’s stock valued at $45,226,000 after acquiring an additional 26,496 shares during the period. CHURCHILL MANAGEMENT Corp acquired a new stake in shares of Tenable in the 1st quarter valued at approximately $1,239,000. Mutual of America Capital Management LLC raised its position in shares of Tenable by 39.3% in the 4th 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. Finally, CANADA LIFE ASSURANCE Co raised its position in shares of Tenable by 21.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 352,468 shares of the company’s stock valued at $17,408,000 after acquiring an additional 61,080 shares during the period. Institutional investors and hedge funds 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.