Susquehanna Lowers Tenable (NASDAQ:TENB) Price Target to $48.00

Tenable (NASDAQ:TENB) had its target price reduced by investment analysts at Susquehanna from $60.00 to $48.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “positive” rating on the stock. Susquehanna’s price objective indicates a potential upside of 22.54% from the stock’s current price.

A number of other equities analysts also recently commented on the company. Westpark Capital restated a “buy” rating and set a $54.00 target price on shares of Tenable in a report on Monday. Robert W. Baird decreased their target price on Tenable from $55.00 to $53.00 and set an “outperform” rating for the company in a report on Thursday. Wedbush restated an “outperform” rating and set a $65.00 target price on shares of Tenable in a report on Thursday, May 2nd. Needham & Company LLC restated a “buy” rating and set a $62.00 target price on shares of Tenable in a report on Friday, June 14th. Finally, DA Davidson downgraded Tenable from a “buy” rating to a “neutral” rating and decreased their target price for the company from $56.00 to $40.00 in a report on Thursday. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $54.75.

Tenable Stock Performance

NASDAQ:TENB opened at $39.17 on Thursday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.23 and a quick ratio of 1.23. The business has a 50 day moving average of $42.45 and a 200 day moving average of $45.52. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of -67.53 and a beta of 0.86. Tenable has a 1-year low of $33.85 and a 1-year high of $53.50.

Tenable (NASDAQ:TENB) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.03. Tenable had a negative return on equity of 10.40% and a negative net margin of 8.18%. The firm had revenue of $215.96 million during the quarter, compared to the consensus estimate of $213.56 million. On average, sell-side analysts predict that Tenable will post -0.14 earnings per share for the current fiscal year.

Insider Transactions at Tenable

In related news, Director Yoran Amit 70,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Mark C. Thurmond 4,700 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Yoran Amit 70,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The disclosure for this trade can be found here. Over the last three months, insiders have sold 24,132 shares of company stock valued at $1,049,183. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TENB. Vanguard Group Inc. raised its stake in Tenable by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 12,543,352 shares of the company’s stock valued at $620,018,000 after purchasing an additional 32,535 shares during the period. First Trust Advisors LP raised its stake in Tenable by 18.0% during the 4th quarter. First Trust Advisors LP now owns 4,452,555 shares of the company’s stock valued at $205,085,000 after purchasing an additional 680,477 shares during the period. William Blair Investment Management LLC raised its stake in Tenable by 20.2% during the 1st quarter. William Blair Investment Management LLC now owns 3,491,301 shares of the company’s stock valued at $172,575,000 after purchasing an additional 585,559 shares during the period. Mackenzie Financial Corp raised its stake in Tenable by 0.5% during the 4th quarter. Mackenzie Financial Corp now owns 3,038,152 shares of the company’s stock valued at $139,937,000 after purchasing an additional 16,515 shares during the period. Finally, Champlain Investment Partners LLC raised its stake in Tenable by 59.5% during the 1st quarter. Champlain Investment Partners LLC now owns 1,591,147 shares of the company’s stock valued at $78,650,000 after purchasing an additional 593,529 shares during the period. Institutional investors own 89.06% of the company’s stock.

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.