Tenable (NASDAQ:TENB) Issues FY 2024 Earnings Guidance

Tenable (NASDAQ:TENB) updated its FY 2024 earnings guidance on Monday. The company provided EPS guidance of 1.210-1.230 for the period, compared to the consensus EPS estimate of 1.220. The company issued revenue guidance of $893.3 million-$897.3 million, compared to the consensus revenue estimate of $896.0 million. Tenable also updated its Q4 2024 guidance to 0.330-0.350 EPS.

Tenable Stock Up 2.8 %

TENB stock opened at $40.17 on Tuesday. The business’s 50-day moving average price is $41.27 and its 200-day moving average price is $41.53. The stock has a market cap of $4.83 billion, a P/E ratio of -78.76 and a beta of 0.85. Tenable has a twelve month low of $35.25 and a twelve month high of $53.50. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.88.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TENB. Robert W. Baird reduced their price objective on shares of Tenable from $53.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Westpark Capital reissued a “hold” rating on shares of Tenable in a report on Thursday, October 31st. Barclays lowered their price target on Tenable from $49.00 to $45.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Jefferies Financial Group boosted their target price on shares of Tenable from $40.00 to $45.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $47.00 target price (down from $50.00) on shares of Tenable in a research note on Monday, December 2nd. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $50.63.

Insider Transactions at Tenable

In other Tenable news, CEO Amit Yoran sold 4,828 shares of Tenable stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $40.72, for a total transaction of $196,596.16. Following the completion of the transaction, the chief executive officer now directly owns 45,171 shares of the company’s stock, valued at $1,839,363.12. The trade was a 9.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Stephen A. Vintz sold 3,180 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $42.74, for a total transaction of $135,913.20. Following the completion of the sale, the chief financial officer now directly owns 285,045 shares in the company, valued at approximately $12,182,823.30. This represents a 1.10 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,654 shares of company stock worth $862,879. 4.30% of the stock is currently owned by company insiders.

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.