Tenable (NASDAQ:TENB) Sets New 1-Year Low – What’s Next?

Shares of Tenable Holdings, Inc. (NASDAQ:TENB) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $21.26 and last traded at $21.44, with a volume of 299241 shares traded. The stock had previously closed at $22.47.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Wall Street Zen raised Tenable from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Morgan Stanley set a $30.00 price objective on shares of Tenable in a report on Thursday, December 18th. Truist Financial set a $27.00 target price on shares of Tenable in a research note on Tuesday, January 20th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Tenable in a research report on Thursday, January 22nd. Finally, DA Davidson set a $32.00 price objective on shares of Tenable in a report on Thursday, October 30th. Ten equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $35.82.

Tenable Stock Performance

The firm has a 50 day moving average price of $24.42 and a 200-day moving average price of $28.06. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of -79.59 and a beta of 0.64.

Tenable (NASDAQ:TENB) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.05. The company had revenue of $252.44 million during the quarter, compared to analyst estimates of $247.43 million. During the same period in the prior year, the business earned $0.32 EPS. Tenable’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, sell-side analysts expect that Tenable Holdings, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tenable news, Director A Brooke Seawell sold 115,000 shares of the stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $24.82, for a total value of $2,854,300.00. The sale was disclosed in a filing with the SEC, which is available through this link. 1.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tenable

Several large investors have recently bought and sold shares of TENB. Quarry LP purchased a new stake in Tenable during the 3rd quarter worth about $25,000. Signaturefd LLC increased its stake in Tenable by 312.9% in the fourth quarter. Signaturefd LLC now owns 1,251 shares of the company’s stock valued at $29,000 after purchasing an additional 948 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in Tenable during the second quarter worth approximately $37,000. Exchange Traded Concepts LLC purchased a new position in Tenable during the 3rd quarter worth approximately $45,000. Finally, Horizon Investments LLC acquired a new position in Tenable during the third quarter worth approximately $45,000. Hedge funds and other institutional investors own 89.06% of the company’s stock.

About Tenable

Tenable Holdings, Inc is a global cybersecurity company specializing in vulnerability management and continuous threat exposure assessment. Headquartered in Columbia, Maryland, Tenable was founded in 2002 by Ron Gula and Jack Huffard to address the growing need for proactive network security solutions. Over the years, the company has evolved from a pioneer in open-source vulnerability scanning to a leading provider of comprehensive security platforms that help organizations identify, investigate and prioritize cyber risks across on-premises, cloud and operational technology environments.

At the core of Tenable’s product suite is Nessus, one of the industry’s most widely adopted vulnerability scanners.