Tenable Holdings, Inc. (NASDAQ:TENB) Stock Has Average Target Price of $46.25

Key Points

• Analyst sentiment is mixed: 22 brokerages give Tenable an average “Hold” rating, with 10 buys, 11 holds, and one sell. The average 12-month price target is $46.25; recent targets include $55 from Needham and $45 from Truist.
• Quarterly results beat expectations: Tenable reported EPS of $0.63 versus the $0.51 consensus and revenue of $276.39 million versus estimates of $271.58 million. Revenue rose 9.5% year over year.
• Company insiders sold 26,390 shares worth about $1.31 million over the past 90 days, while institutional investors and hedge funds own 89.06% of Tenable’s stock.

Shares of Tenable Holdings, Inc. (NASDAQ:TENB - Get Free Report) have been given an average rating of "Hold" by the twenty-two brokerages that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $46.25.

Several equities analysts have commented on the stock. Needham & Company LLC boosted their price target on shares of Tenable from $36.00 to $55.00 and gave the stock a "buy" rating in a research note on Thursday, October 29th. Truist Financial reiterated a "hold" rating and issued a $45.00 price objective (up from $35.00) on shares of Tenable in a research note on Thursday, October 29th. Wells Fargo & Company lifted their target price on Tenable from $38.00 to $45.00 and gave the company an "equal weight" rating in a report on Friday, October 30th. Piper Sandler lifted their target price on Tenable from $30.00 to $47.00 and gave the company a "neutral" rating in a report on Thursday, October 29th. Finally, Robert W. Baird set a $55.00 target price on Tenable in a research note on Thursday, October 29th.

Insider Transactions at Tenable

In other news, CAO Barron Anschutz sold 10,000 shares of Tenable stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $51.00, for a total value of $510,000.00. Following the completion of the transaction, the chief accounting officer owned 66,077 shares in the company, valued at approximately $3,369,927. This trade represents a 13.14% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director A. Brooke Seawell sold 15,000 shares of the business's stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $50.33, for a total value of $754,950.00. Following the transaction, the director directly owned 115,292 shares of the company's stock, valued at approximately $5,802,646.36. This represents a 11.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 26,390 shares of company stock worth $1,314,446 in the last ninety days. 1.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Tenable in the second quarter valued at approximately $498,387,000. The Manufacturers Life Insurance Company acquired a new stake in Tenable during the second quarter worth approximately $76,759,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Tenable by 175.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,732,271 shares of the company's stock worth $63,131,000 after buying an additional 2,375,587 shares during the last quarter. Freestone Grove Partners LP purchased a new stake in shares of Tenable during the 2nd quarter worth approximately $42,489,000. Finally, Bank of America Corp DE purchased a new stake in shares of Tenable during the 2nd quarter worth approximately $30,884,000. Institutional investors and hedge funds own 89.06% of the company's stock.

Tenable Trading Down 6.7%

NASDAQ TENB opened at $44.16 on Friday. The firm has a 50 day simple moving average of $39.05 and a 200-day simple moving average of $29.25. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.79 and a current ratio of 1.04. Tenable has a one year low of $15.73 and a one year high of $53.22. The firm has a market cap of $4.86 billion, a price-to-earnings ratio of 339.72 and a beta of 0.89.

Tenable (NASDAQ:TENB - Get Free Report) last announced its earnings results on Wednesday, October 28th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.12. The firm had revenue of $276.39 million for the quarter, compared to the consensus estimate of $271.58 million. Tenable had a net margin of 1.48% and a return on equity of 28.72%. The firm's revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.42 EPS. Equities research analysts anticipate that Tenable will post 0.58 EPS for the current fiscal year.

Tenable Company Profile

Tenable is a cybersecurity company that helps organizations identify, assess and reduce cyber risk across their technology environments. Its exposure management platform is designed to provide visibility into vulnerabilities and other security exposures affecting cloud systems, applications, endpoints, networks, operational technology, Internet of Things devices and identities.

The company's product portfolio includes Nessus, a widely used vulnerability assessment solution, and Tenable One, an exposure management platform that brings together vulnerability management, cloud security, identity exposure and related capabilities.

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