Tenable (NASDAQ:TENB) PT Lowered to $50.00 at Robert W. Baird

Tenable (NASDAQ:TENB) had its price objective lowered by equities research analysts at Robert W. Baird from $53.00 to $50.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price target suggests a potential upside of 22.19% from the stock’s previous close.

A number of other analysts have also recently commented on TENB. Scotiabank cut their price target on shares of Tenable from $47.00 to $44.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 1st. Westpark Capital lowered Tenable from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. Jefferies Financial Group began coverage on Tenable in a report on Wednesday, October 16th. They issued a “hold” rating and a $45.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective on shares of Tenable in a research report on Friday, September 13th. Finally, Truist Financial reiterated a “buy” rating and issued a $55.00 price objective (down previously from $60.00) on shares of Tenable in a research note on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Tenable has a consensus rating of “Moderate Buy” and an average price target of $51.38.

Tenable Price Performance

Shares of TENB opened at $40.92 on Friday. The business has a 50-day moving average of $40.88 and a 200-day moving average of $42.52. Tenable has a 1 year low of $33.85 and a 1 year high of $53.50. The company has a market capitalization of $4.87 billion, a price-to-earnings ratio of -73.07 and a beta of 0.83. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.21 and a quick ratio of 1.21.

Tenable (NASDAQ:TENB) last issued its quarterly earnings results on Wednesday, July 31st. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. Tenable had a negative net margin of 7.77% and a negative return on equity of 7.63%. The firm had revenue of $221.24 million for the quarter, compared to the consensus estimate of $218.41 million. As a group, equities research analysts anticipate that Tenable will post -0.06 earnings per share for the current year.

Insider Activity at Tenable

In other Tenable news, CEO Amit Yoran sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $47.72, for a total transaction of $1,908,800.00. Following the completion of the sale, the chief executive officer now directly owns 387,356 shares of the company’s stock, valued at approximately $18,484,628.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Stephen A. Vintz sold 3,413 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $41.75, for a total transaction of $142,492.75. Following the transaction, the chief financial officer now directly owns 278,493 shares in the company, valued at approximately $11,627,082.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Amit Yoran sold 40,000 shares of the company’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $47.72, for a total transaction of $1,908,800.00. Following the completion of the sale, the chief executive officer now directly owns 387,356 shares of the company’s stock, valued at $18,484,628.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,469 shares of company stock valued at $2,429,076. 4.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tenable

Hedge funds and other institutional investors have recently modified their holdings of the business. Quest Partners LLC purchased a new stake in shares of Tenable during the second quarter valued at approximately $40,000. Fidelis Capital Partners LLC bought a new position in Tenable in the 1st quarter valued at $58,000. Allspring Global Investments Holdings LLC grew its stake in Tenable by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,708 shares of the company’s stock valued at $183,000 after purchasing an additional 312 shares during the period. Truvestments Capital LLC purchased a new stake in shares of Tenable during the 1st quarter valued at $189,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Tenable during the 2nd quarter worth $200,000. Hedge funds and other 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.