Tenable (NASDAQ:TENB) Coverage Initiated by Analysts at Scotiabank

Scotiabank initiated coverage on shares of Tenable (NASDAQ:TENB) in a report released on Friday morning, MarketBeat.com reports. The firm issued a sector perform rating and a $47.00 target price on the stock.

Several other equities research analysts have also commented on the stock. Westpark Capital upgraded shares of Tenable from a hold rating to a buy rating and set a $65.00 price objective on the stock in a research report on Friday, January 12th. Wedbush reiterated an outperform rating and issued a $65.00 price target on shares of Tenable in a research report on Wednesday, April 10th. Stephens lifted their price objective on Tenable from $60.00 to $62.00 and gave the stock an overweight rating in a research report on Wednesday, February 7th. Needham & Company LLC reissued a buy rating and set a $62.00 price target on shares of Tenable in a research report on Tuesday. Finally, Truist Financial boosted their price target on Tenable from $50.00 to $60.00 and gave the stock a buy rating in a report on Wednesday, February 7th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $57.20.

Tenable Trading Up 1.3 %

Shares of Tenable stock opened at $45.99 on Friday. The company has a 50-day moving average of $47.40 and a two-hundred day moving average of $45.12. The stock has a market cap of $5.46 billion, a PE ratio of -67.63 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. Tenable has a 12-month low of $33.85 and a 12-month high of $53.50.

Tenable (NASDAQ:TENB) last released its quarterly earnings data on Tuesday, February 6th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.06. The firm had revenue of $213.31 million during the quarter, compared to the consensus estimate of $206.95 million. Tenable had a negative return on equity of 15.19% and a negative net margin of 9.80%. On average, research analysts anticipate that Tenable will post -0.12 EPS for the current fiscal year.

Insider Activity

In related news, Director Linda Kay Zecher sold 2,600 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $50.75, for a total value of $131,950.00. Following the sale, the director now directly owns 2 shares of the company’s stock, valued at $101.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Tenable news, Director Linda Kay Zecher sold 2,600 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $50.75, for a total transaction of $131,950.00. Following the completion of the sale, the director now owns 2 shares of the company’s stock, valued at $101.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Stephen A. Vintz sold 15,505 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was 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 owns 257,924 shares in the company, valued at $12,782,713.44. 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 in the last 90 days. 4.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tenable

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new stake in Tenable during the 4th quarter valued at $56,568,000. William Blair Investment Management LLC grew its stake in shares of Tenable by 36.6% during the third quarter. William Blair Investment Management LLC now owns 3,028,310 shares of the company’s stock valued at $135,668,000 after acquiring an additional 810,831 shares in the last quarter. Readystate Asset Management LP purchased a new stake in shares of Tenable during the fourth quarter worth about $32,199,000. First Trust Advisors LP lifted its stake 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 worth $205,085,000 after acquiring an additional 680,477 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its holdings in Tenable by 114.7% in the third quarter. Lord Abbett & CO. LLC now owns 1,006,755 shares of the company’s stock valued at $45,103,000 after purchasing an additional 537,886 shares during 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.