Tenable (NASDAQ:TENB) PT Lowered to $53.00

Tenable (NASDAQ:TENB) had its price target reduced by equities researchers at Canaccord Genuity Group from $57.00 to $53.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 26.40% from the company’s previous close.

A number of other equities analysts also recently commented on TENB. Westpark Capital reissued a “buy” rating and set a $54.00 price objective on shares of Tenable in a research report on Monday. Wedbush reiterated an “outperform” rating and issued a $65.00 price objective on shares of Tenable in a research note on Thursday, May 2nd. Susquehanna cut their price target on Tenable from $60.00 to $48.00 and set a “positive” rating for the company in a research note on Thursday. DA Davidson lowered Tenable from a “buy” rating to a “neutral” rating and lowered their target price for the company from $56.00 to $40.00 in a report on Thursday. Finally, Truist Financial reaffirmed a “buy” rating and set a $55.00 price objective (down previously from $60.00) on shares of Tenable in a research note on Thursday. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $53.19.

Tenable Price Performance

TENB traded down $3.99 on Thursday, hitting $41.93. 2,285,992 shares of the company’s stock were exchanged, compared to its average volume of 953,654. Tenable has a fifty-two week low of $33.85 and a fifty-two week high of $53.50. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.00. The firm has a 50-day moving average price of $42.45 and a 200-day moving average price of $45.52. The stock has a market cap of $4.98 billion, a price-to-earnings ratio of -72.29 and a beta of 0.86.

Tenable (NASDAQ:TENB) last issued its quarterly earnings data on Wednesday, May 1st. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.03. The firm had revenue of $215.96 million for the quarter, compared to analyst estimates of $213.56 million. Tenable had a negative net margin of 8.18% and a negative return on equity of 10.40%. As a group, equities analysts anticipate that Tenable will post -0.14 earnings per share for the current 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 SEC, which can be accessed through this link. In other news, Director Yoran Amit 70,000 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Stephen A. Vintz sold 2,813 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $43.76, for a total value of $123,096.88. Following the completion of the transaction, the chief financial officer now owns 260,955 shares in the company, valued at $11,419,390.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,132 shares of company stock valued at $1,049,183. Corporate insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Tenable by 0.3% during the first quarter. Vanguard Group Inc. now owns 12,543,352 shares of the company’s stock worth $620,018,000 after acquiring an additional 32,535 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Tenable by 18.0% in the fourth 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 in the last quarter. William Blair Investment Management LLC lifted its holdings in shares of Tenable by 20.2% in the first 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 in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Tenable by 0.5% in the fourth 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 in the last quarter. Finally, Champlain Investment Partners LLC lifted its holdings in shares of Tenable by 59.5% in the first 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 in the last quarter. 89.06% of the stock is currently owned by institutional investors.

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.