Tenable’s (TENB) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Tenable (NASDAQ:TENB) in a report issued on Thursday, Benzinga reports. The brokerage currently has a $62.00 target price on the stock.

A number of other equities analysts also recently commented on the company. Wedbush reiterated an outperform rating and issued a $65.00 price target on shares of Tenable in a research note on Wednesday, April 10th. Westpark Capital raised Tenable from a hold rating to a buy rating and set a $65.00 price target on the stock in a research report on Friday, January 12th. Stephens raised their price objective on Tenable from $60.00 to $62.00 and gave the stock an overweight rating in a research note on Wednesday, February 7th. Truist Financial boosted their target price 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. Finally, Wells Fargo & Company raised their price target on shares of Tenable from $55.00 to $60.00 and gave the stock an overweight rating in a research report on Wednesday, February 7th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $57.20.

Tenable Stock Performance

Shares of TENB opened at $44.60 on Thursday. The firm has a market cap of $5.30 billion, a price-to-earnings ratio of -76.90 and a beta of 0.94. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.04. The business’s 50 day moving average is $47.06 and its two-hundred day moving average is $45.18. Tenable has a 52-week low of $33.85 and a 52-week high of $53.50.

Tenable (NASDAQ:TENB) last posted its quarterly earnings results on Tuesday, February 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.06. The firm had revenue of $213.31 million for the quarter, compared to analysts’ expectations of $206.95 million. Tenable had a negative net margin of 8.18% and a negative return on equity of 10.59%. Analysts forecast that Tenable will post -0.14 EPS for the current fiscal year.

Insider Buying and Selling

In other Tenable news, CEO Amit Yoran sold 12,329 shares of Tenable stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $46.22, for a total transaction of $569,846.38. Following the sale, the chief executive officer now owns 304,444 shares of the company’s stock, valued at approximately $14,071,401.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other 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 value of $768,427.80. Following the completion of the transaction, the chief financial officer now directly owns 257,924 shares in the company, valued at $12,782,713.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Amit Yoran sold 12,329 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $46.22, for a total value of $569,846.38. Following the sale, the chief executive officer now directly owns 304,444 shares in the company, valued at approximately $14,071,401.68. The disclosure for this sale can be found here. Insiders sold 317,382 shares of company stock valued at $15,021,615 in the last three months. 4.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tenable

Hedge funds have recently modified their holdings of the company. Vanderbilt University boosted its stake in Tenable by 51.4% during the fourth quarter. Vanderbilt University now owns 65,313 shares of the company’s stock valued at $3,008,000 after buying an additional 22,187 shares in the last quarter. Mutual of America Capital Management LLC boosted its position in shares of Tenable by 39.3% during the 4th quarter. Mutual of America Capital Management LLC now owns 82,858 shares of the company’s stock valued at $3,816,000 after purchasing an additional 23,385 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of Tenable by 60.0% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 32,000 shares of the company’s stock worth $1,419,000 after purchasing an additional 12,000 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Tenable by 15.9% in the 3rd quarter. American Century Companies Inc. now owns 1,791,909 shares of the company’s stock worth $80,278,000 after purchasing an additional 245,243 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Tenable by 6.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 801,267 shares of the company’s stock valued at $36,906,000 after purchasing an additional 48,410 shares during the last quarter. 89.06% of the stock is currently owned by institutional investors and hedge funds.

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.