JPMorgan Chase & Co. Issues Pessimistic Forecast for Tenable (NASDAQ:TENB) Stock Price

Tenable (NASDAQ:TENB - Get Free Report) had its price objective dropped by stock analysts at JPMorgan Chase & Co. from $53.00 to $43.00 in a research note issued on Monday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 39.75% from the stock's previous close.

Several other research analysts have also recently weighed in on the stock. Truist Financial lowered their price target on shares of Tenable from $48.00 to $45.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Jefferies Financial Group cut their price target on shares of Tenable from $45.00 to $37.00 and set a "hold" rating for the company in a report on Monday, March 31st. Scotiabank raised their target price on Tenable from $44.00 to $45.00 and gave the stock a "sector perform" rating in a research note on Tuesday, January 21st. UBS Group cut their price objective on Tenable from $55.00 to $47.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Finally, Stephens began coverage on Tenable in a research report on Tuesday, April 1st. They set an "equal weight" rating and a $42.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $40.44.

Tenable Price Performance

Shares of TENB traded up $0.03 during trading hours on Monday, hitting $30.77. 1,984,179 shares of the stock were exchanged, compared to its average volume of 1,006,736. Tenable has a 12-month low of $28.75 and a 12-month high of $49.18. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.28 and a current ratio of 1.28. The stock's 50-day moving average price is $34.47 and its two-hundred day moving average price is $38.83. The company has a market cap of $3.70 billion, a price-to-earnings ratio of -102.57 and a beta of 0.88.

Tenable (NASDAQ:TENB - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.08. The firm had revenue of $239.14 million for the quarter, compared to analyst estimates of $234.12 million. Tenable had a negative net margin of 4.03% and a negative return on equity of 2.07%. Tenable's quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.25 earnings per share. Research analysts expect that Tenable will post 0.12 earnings per share for the current year.

Insider Buying and Selling

In other Tenable news, Director Linda Kay Zecher sold 2,500 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $37.00, for a total value of $92,500.00. Following the completion of the transaction, the director now owns 353 shares in the company, valued at approximately $13,061. This represents a 87.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mark C. Thurmond sold 1,341 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $39.56, for a total transaction of $53,049.96. Following the transaction, the chief executive officer now directly owns 41,266 shares in the company, valued at approximately $1,632,482.96. This trade represents a 3.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,128 shares of company stock valued at $539,256 over the last ninety days. Corporate insiders own 1.50% of the company's stock.

Institutional Trading of Tenable

Several large investors have recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Tenable by 858.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 642 shares of the company's stock valued at $25,000 after buying an additional 575 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of Tenable during the 4th quarter worth about $35,000. SBI Securities Co. Ltd. purchased a new stake in shares of Tenable during the fourth quarter worth about $38,000. Johnson Financial Group Inc. acquired a new position in shares of Tenable in the fourth quarter valued at approximately $53,000. Finally, Byrne Asset Management LLC lifted its stake in shares of Tenable by 115.4% during the first quarter. Byrne Asset Management LLC now owns 1,357 shares of the company's stock valued at $47,000 after buying an additional 727 shares during the period. 89.06% of the stock is currently owned by institutional investors and hedge funds.

About Tenable

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.