Tenable (NASDAQ:TENB) Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Tenable (NASDAQ:TENB) from a buy rating to a hold rating in a research report sent to investors on Wednesday, Zacks.com reports.

According to Zacks, “Tenable Holdings, Inc. is a provider of Cyber Exposure solutions, which is a discipline for managing and measuring cybersecurity risk in the digital era. Tenable’s enterprise software platform enables broad visibility into an organization’s cyber exposure across the modern attack surface and deep insights that help organizations translate technical data into business insights to understand and reduce their cybersecurity risk. “

Several other research analysts have also recently weighed in on the stock. Wedbush reiterated a buy rating and set a $44.00 price target on shares of Tenable in a research note on Wednesday, July 31st. Deutsche Bank set a $38.00 price target on shares of Tenable and gave the stock a buy rating in a research note on Wednesday, July 31st. Stifel Nicolaus set a $38.00 price target on shares of Tenable and gave the stock a buy rating in a research note on Wednesday, July 31st. Nomura set a $29.00 price target on shares of Tenable and gave the stock a hold rating in a research note on Wednesday, July 31st. Finally, Macquarie assumed coverage on shares of Tenable in a research note on Tuesday, July 16th. They set a neutral rating and a $35.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Tenable has an average rating of Buy and a consensus target price of $34.90.

TENB stock traded up $0.14 on Wednesday, hitting $22.46. The company had a trading volume of 666,780 shares, compared to its average volume of 724,524. Tenable has a 12-month low of $20.00 and a 12-month high of $37.59. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.05. The stock’s 50-day simple moving average is $22.82 and its 200 day simple moving average is $27.67. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of -16.51 and a beta of 2.69.

Tenable (NASDAQ:TENB) last issued its earnings results on Tuesday, July 30th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.17. Tenable had a negative net margin of 26.92% and a negative return on equity of 65.80%. The company had revenue of $85.38 million for the quarter, compared to analysts’ expectations of $82.73 million. During the same quarter last year, the company posted ($0.18) earnings per share. The firm’s quarterly revenue was up 34.3% on a year-over-year basis. Research analysts forecast that Tenable will post -0.95 earnings per share for the current year.

In other news, CEO Amit Yoran sold 10,000 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $30.50, for a total transaction of $305,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CRO John Negron sold 32,417 shares of the firm’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $29.77, for a total transaction of $965,054.09. The disclosure for this sale can be found here. Insiders have sold a total of 110,183 shares of company stock worth $3,035,508 in the last quarter. Corporate insiders own 31.90% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Harbourvest Partners LLC bought a new stake in shares of Tenable during the 2nd quarter valued at $1,246,000. Mackenzie Financial Corp bought a new stake in shares of Tenable during the 2nd quarter valued at $12,987,000. Eaton Vance Management bought a new stake in shares of Tenable during the 2nd quarter valued at $1,704,000. Vista Equity Partners Management LLC raised its position in shares of Tenable by 40.1% during the 2nd quarter. Vista Equity Partners Management LLC now owns 1,023,510 shares of the company’s stock valued at $29,211,000 after purchasing an additional 292,706 shares during the period. Finally, Nuveen Asset Management LLC bought a new stake in shares of Tenable during the 2nd quarter valued at $15,367,000. Hedge funds and other institutional investors own 52.53% of the company’s stock.

Tenable Company Profile

Tenable Holdings, Inc provides cybersecurity solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company enterprise software platform enables visibility into an organization's cyber exposure across the attack surface and deep insights that help organizations translate vulnerability data into business insights to understand and reduce their cybersecurity risk.

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