Needham & Company LLC Reiterates “Buy” Rating for Tenable (NASDAQ:TENB)

Tenable (NASDAQ:TENB)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $62.00 target price on the stock. Needham & Company LLC’s target price would suggest a potential upside of 33.56% from the company’s previous close.

TENB has been the subject of several other reports. Wedbush reaffirmed an “outperform” rating and issued a $65.00 target price on shares of Tenable in a research note on Wednesday, April 10th. Morgan Stanley raised shares of Tenable from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $46.00 to $60.00 in a research note on Tuesday, January 9th. Truist Financial boosted their price objective on shares of Tenable from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Westpark Capital raised shares of Tenable from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Friday, January 12th. Finally, Wells Fargo & Company boosted their price objective on shares of Tenable from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Tenable has a consensus rating of “Moderate Buy” and an average target price of $56.63.

Tenable Trading Up 0.6 %

NASDAQ:TENB opened at $46.42 on Tuesday. The firm has a market cap of $5.51 billion, a P/E ratio of -68.26 and a beta of 0.94. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.04. The stock’s 50 day simple moving average is $47.62 and its 200-day simple moving average is $45.11. Tenable has a 12-month low of $33.85 and a 12-month high of $53.50.

Tenable (NASDAQ:TENB) last issued its earnings results on Tuesday, February 6th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.06. Tenable had a negative net margin of 9.80% and a negative return on equity of 15.19%. The company had revenue of $213.31 million for the quarter, compared to analyst estimates of $206.95 million. Equities analysts anticipate that Tenable will post -0.12 EPS for the current year.

Insider Activity at Tenable

In related news, CFO Stephen A. Vintz sold 15,505 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $49.56, for a total transaction of $768,427.80. Following the completion of the sale, the chief financial officer now directly owns 257,924 shares of the company’s stock, valued at $12,782,713.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Stephen A. Vintz sold 15,505 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $49.56, for a total transaction of $768,427.80. Following the completion of the sale, the chief financial officer now directly owns 257,924 shares of the company’s stock, valued at $12,782,713.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Stephen A. Vintz sold 5,216 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $46.22, for a total transaction of $241,083.52. Following the completion of the sale, the chief financial officer now owns 238,593 shares of the company’s stock, valued at approximately $11,027,768.46. The disclosure for this sale can be found here. Insiders sold a total of 317,382 shares of company stock valued at $15,021,615 over the last ninety days. Insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Tenable

Several hedge funds have recently made changes to their positions in TENB. Avior Wealth Management LLC lifted its position in shares of Tenable by 13.6% in the 3rd quarter. Avior Wealth Management LLC now owns 11,237 shares of the company’s stock valued at $503,000 after acquiring an additional 1,341 shares in the last quarter. Dakota Wealth Management purchased a new stake in shares of Tenable in the 3rd quarter valued at approximately $210,000. Raymond James & Associates lifted its position in Tenable by 4.8% in the 3rd quarter. Raymond James & Associates now owns 17,336 shares of the company’s stock worth $777,000 after buying an additional 800 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in Tenable by 2.0% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 45,740 shares of the company’s stock worth $2,049,000 after buying an additional 904 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its position in Tenable by 0.9% in the 3rd quarter. Mackenzie Financial Corp now owns 3,021,637 shares of the company’s stock worth $131,955,000 after buying an additional 27,875 shares in the last quarter. 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.