Tenable (NASDAQ:TENB) Given “Outperform” Rating at Wedbush

Wedbush restated their outperform rating on shares of Tenable (NASDAQ:TENB) in a research report released on Thursday morning, Benzinga reports. Wedbush currently has a $65.00 price objective on the stock.

Several other research firms have also weighed in on TENB. Morgan Stanley raised Tenable from an equal weight rating to an overweight rating and lifted their price objective for the company from $46.00 to $60.00 in a research note on Tuesday, January 9th. Wells Fargo & Company boosted their price objective on shares of Tenable from $55.00 to $60.00 and gave the stock an overweight rating in a research note on Wednesday, February 7th. Westpark Capital raised shares of Tenable from a hold rating to a buy rating and set a $65.00 target price on the stock in a research note on Friday, January 12th. Truist Financial increased their price target on Tenable from $50.00 to $60.00 and gave the company a buy rating in a report on Wednesday, February 7th. Finally, Susquehanna boosted their price objective on Tenable from $55.00 to $60.00 and gave the stock a positive rating in a research note on Thursday, February 8th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Tenable has a consensus rating of Moderate Buy and an average target price of $57.20.

Tenable Trading Down 1.3 %

NASDAQ TENB traded down $0.61 during trading hours on Thursday, hitting $44.60. 954,961 shares of the company’s stock were exchanged, compared to its average volume of 792,766. The business’s 50 day moving average is $47.06 and its 200-day moving average is $45.18. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.19 and a current ratio of 1.19. Tenable has a 12-month low of $33.85 and a 12-month high of $53.50. The firm has a market capitalization of $5.30 billion, a P/E ratio of -76.90 and a beta of 0.94.

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

Insider Buying and Selling at Tenable

In other news, Director Linda Kay Zecher sold 2,600 shares of the company’s stock in a transaction dated 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 owns 2 shares in the company, valued at approximately $101.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Linda Kay Zecher sold 2,600 shares of Tenable stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $50.75, for a total value of $131,950.00. Following the completion of the transaction, the director now owns 2 shares in the company, valued at approximately $101.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Stephen A. Vintz sold 15,505 shares of the company’s 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 sale, the chief financial officer now directly owns 257,924 shares in the company, valued at $12,782,713.44. The disclosure for this sale can be found here. Insiders have sold 317,382 shares of company stock worth $15,021,615 in the last ninety days. 4.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of TENB. Fidelis Capital Partners LLC bought a new position in Tenable in the first quarter worth about $58,000. BNP Paribas bought a new stake in shares of Tenable in the 1st quarter worth approximately $1,701,000. BNP Paribas Financial Markets boosted its position in Tenable by 16.4% during the 1st quarter. BNP Paribas Financial Markets now owns 144,697 shares of the company’s stock valued at $7,152,000 after purchasing an additional 20,432 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Tenable by 16.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 932,384 shares of the company’s stock worth $46,088,000 after buying an additional 131,117 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Tenable by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,708 shares of the company’s stock worth $183,000 after buying an additional 312 shares during the period. 89.06% of the stock is owned by institutional investors and hedge funds.

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.