Tenable (NASDAQ:TENB) Price Target Cut to $53.00 by Analysts at Robert W. Baird

Tenable (NASDAQ:TENB) had its price objective decreased by Robert W. Baird from $55.00 to $53.00 in a research note issued to investors on Thursday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

TENB has been the subject of several other research reports. Baird R W raised Tenable to a strong-buy rating in a research note on Monday, July 15th. Westpark Capital reissued a buy rating and set a $54.00 price target on shares of Tenable in a research report on Monday. DA Davidson downgraded 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 research note on Thursday. Needham & Company LLC reiterated a buy rating and issued a $62.00 price objective on shares of Tenable in a report on Friday, June 14th. Finally, Scotiabank assumed coverage on shares of Tenable in a report on Friday, April 26th. They issued a sector perform rating and a $47.00 target price on the stock. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Tenable currently has a consensus rating of Moderate Buy and a consensus target price of $53.00.

Tenable Stock Down 2.0 %

Shares of NASDAQ:TENB traded down $0.87 during midday trading on Thursday, hitting $41.61. 723,318 shares of the company’s stock traded hands, compared to its average volume of 970,380. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.23 and a current ratio of 1.23. Tenable has a twelve month low of $33.85 and a twelve month high of $53.50. The company has a market cap of $4.95 billion, a PE ratio of -73.24 and a beta of 0.86. The firm’s fifty day moving average price is $42.43 and its two-hundred day moving average price is $45.49.

Tenable (NASDAQ:TENB) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.03. The firm had revenue of $215.96 million for the quarter, compared to the consensus estimate of $213.56 million. Tenable had a negative net margin of 7.77% and a negative return on equity of 7.70%. On average, equities research analysts anticipate that Tenable will post -0.14 EPS for the current fiscal year.

Insider Buying and Selling at Tenable

In other news, insider Mark C. Thurmond 4,700 shares of Tenable stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Mark C. Thurmond 4,700 shares of the firm’s stock in a transaction on Tuesday, July 30th. The was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Yoran Amit 70,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The disclosure for this trade can be found here. In the last quarter, insiders sold 64,132 shares of company stock worth $2,957,983. Insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Tenable

Institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new position in Tenable during the fourth quarter worth $56,568,000. Readystate Asset Management LP purchased a new position in Tenable in the fourth quarter valued at about $32,199,000. First Trust Advisors LP increased its position in shares of Tenable by 18.0% during the fourth quarter. First Trust Advisors LP now owns 4,452,555 shares of the company’s stock worth $205,085,000 after purchasing an additional 680,477 shares in the last quarter. Champlain Investment Partners LLC boosted its position in Tenable by 59.5% in the 1st quarter. Champlain Investment Partners LLC now owns 1,591,147 shares of the company’s stock worth $78,650,000 after purchasing an additional 593,529 shares in the last quarter. Finally, William Blair Investment Management LLC increased its stake in shares of Tenable by 20.2% in 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 in the last quarter. 89.06% of the stock is owned by hedge funds and other institutional investors.

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.