Needham & Company LLC Increases Tenable (NASDAQ:TENB) Price Target to $42.00

Tenable (NASDAQ:TENB – Free Report) had its price objective increased by Needham & Company LLC from $35.00 to $42.00 in a research note released on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages also recently commented on TENB. Stifel Nicolaus lowered their price objective on Tenable from $45.00 to $30.00 and set a “hold” rating for the company in a research note on Wednesday, April 30th. Scotiabank lowered their price target on Tenable from $45.00 to $30.00 and set a “sector perform” rating for the company in a research report on Wednesday, April 30th. Stephens cut Tenable from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 1st. Westpark Capital reaffirmed a “hold” rating on shares of Tenable in a report on Wednesday, April 30th. Finally, Barclays upped their target price on shares of Tenable from $33.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Monday, July 14th. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $41.06.

Check Out Our Latest Report on Tenable

Tenable Stock Down 2.4%

Tenable stock opened at $30.57 on Thursday. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of -82.62 and a beta of 0.76. The firm’s fifty day moving average price is $32.91 and its two-hundred day moving average price is $35.06. Tenable has a 1-year low of $28.75 and a 1-year high of $45.44. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.93.

Tenable (NASDAQ:TENB – Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.04. The company had revenue of $247.30 million for the quarter, compared to analyst estimates of $242.15 million. Tenable had a negative net margin of 4.74% and a negative return on equity of 3.22%. The firm’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.31 EPS. On average, equities research analysts predict that Tenable will post 0.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Mark C. Thurmond sold 2,483 shares of the business’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $32.45, for a total value of $80,573.35. Following the sale, the chief executive officer directly owned 72,727 shares in the company, valued at approximately $2,359,991.15. The trade was a 3.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Stephen A. Vintz sold 3,386 shares of the company’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $32.45, for a total transaction of $109,875.70. Following the sale, the chief executive officer directly owned 328,008 shares in the company, valued at approximately $10,643,859.60. This trade represents a 1.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,815 shares of company stock valued at $669,797 over the last ninety days. 1.50% of the stock is currently owned by insiders.

Institutional Trading of Tenable

Hedge funds and other institutional investors have recently modified their holdings of the business. Summit Investment Advisors Inc. grew its holdings in shares of Tenable by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 12,336 shares of the company’s stock worth $486,000 after purchasing an additional 390 shares in the last quarter. Xponance Inc. raised its stake in Tenable by 6.6% in the first quarter. Xponance Inc. now owns 9,021 shares of the company’s stock valued at $316,000 after purchasing an additional 562 shares in the last quarter. Tidal Investments LLC lifted its position in Tenable by 1.8% during the fourth quarter. Tidal Investments LLC now owns 32,082 shares of the company’s stock valued at $1,263,000 after purchasing an additional 564 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Tenable by 858.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 642 shares of the company’s stock worth $25,000 after buying an additional 575 shares in the last quarter. Finally, Fiera Capital Corp increased its holdings in shares of Tenable by 1.1% in the 1st quarter. Fiera Capital Corp now owns 59,626 shares of the company’s stock worth $2,086,000 after buying an additional 651 shares during the last quarter. Institutional investors own 89.06% of the company’s stock.

About Tenable

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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.