Tenable (NASDAQ:TENB) Shares Down 3.9% – Here’s What Happened

Shares of Tenable Holdings, Inc. (NASDAQ:TENB) traded down 3.9% during trading on Tuesday . The stock traded as low as $32.67 and last traded at $32.6050. Approximately 469,832 shares were traded during mid-day trading, a decline of 85% from the average session volume of 3,194,807 shares. The stock had previously closed at $33.94.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TENB. Wells Fargo & Company reduced their price target on Tenable from $43.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 30th. UBS Group lowered their price objective on Tenable from $37.00 to $34.00 and set a “neutral” rating for the company in a research report on Thursday, July 30th. Scotiabank upgraded Tenable from a “sector perform” rating to a “sector outperform” rating and set a $50.00 target price for the company in a research note on Monday, July 6th. Morgan Stanley set a $27.00 target price on Tenable in a research report on Thursday, April 30th. Finally, Weiss Ratings upgraded Tenable from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Wednesday, August 5th. Eight analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $34.68.

Tenable Stock Up 2.7%

The company has a debt-to-equity ratio of 1.78, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of 673.33 and a beta of 0.94. The firm’s 50-day moving average is $35.14 and its 200 day moving average is $26.38.

Tenable (NASDAQ:TENB) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.04. The company had revenue of $268.51 million for the quarter, compared to analyst estimates of $264.87 million. Tenable had a net margin of 0.65% and a return on equity of 14.90%. Tenable’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the business earned $0.34 EPS. Tenable has set its FY 2026 guidance at 1.950-2.000 EPS and its Q3 2026 guidance at 0.490-0.520 EPS. Sell-side analysts anticipate that Tenable Holdings, Inc. will post 0.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tenable

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP purchased a new position in shares of Tenable in the 3rd quarter worth about $25,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Tenable during the 4th quarter worth about $28,000. Quadrant Capital Group LLC purchased a new stake in shares of Tenable during the 4th quarter worth about $38,000. Horizon Investments LLC acquired a new stake in Tenable during the 3rd quarter worth approximately $45,000. Finally, Los Angeles Capital Management LLC acquired a new stake in Tenable during the 4th quarter worth approximately $48,000. 89.06% of the stock is currently owned by institutional investors and hedge funds.

Tenable Company Profile

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.