Tenable (NASDAQ:TENB) was downgraded by equities research analysts at BidaskClub from a "strong-buy" rating to a "buy" rating in a report released on Wednesday, BidAskClub reports.
Several other research firms have also recently commented on TENB. Morgan Stanley boosted their price target on shares of Tenable from $30.00 to $33.00 and gave the company an "overweight" rating in a report on Wednesday, May 13th. Goldman Sachs Group began coverage on shares of Tenable in a report on Tuesday, March 24th. They issued a "buy" rating and a $29.00 price objective for the company. Monness Crespi & Hardt upped their price objective on shares of Tenable from $30.00 to $35.00 and gave the stock a "buy" rating in a report on Thursday, June 11th. Cowen decreased their price objective on shares of Tenable from $36.00 to $30.00 and set an "outperform" rating for the company in a report on Tuesday, April 21st. Finally, Zacks Investment Research cut shares of Tenable from a "buy" rating to a "hold" rating in a report on Tuesday, June 30th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. The company currently has a consensus rating of "Buy" and an average price target of $33.00.
Tenable stock opened at $29.13 on Wednesday. The company's fifty day simple moving average is $30.11 and its 200-day simple moving average is $26.19. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.40. Tenable has a 12 month low of $16.28 and a 12 month high of $32.10. The stock has a market cap of $2.90 billion, a P/E ratio of -28.28 and a beta of 1.87.
Tenable (NASDAQ:TENB) last posted its quarterly earnings results on Tuesday, April 28th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.10. Tenable had a negative net margin of 26.68% and a negative return on equity of 76.21%. The business had revenue of $102.60 million for the quarter, compared to analysts' expectations of $100.07 million. During the same period in the previous year, the company posted ($0.13) EPS. Tenable's revenue was up 27.8% on a year-over-year basis. On average, equities research analysts expect that Tenable will post -0.85 earnings per share for the current fiscal year.
In other news, major shareholder Insight Holdings Group, Llc sold 127,506 shares of the company's stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $31.24, for a total transaction of $3,983,287.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Stephen A. Riddick sold 1,457 shares of the company's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $29.18, for a total transaction of $42,515.26. Following the transaction, the general counsel now directly owns 10,193 shares of the company's stock, valued at approximately $297,431.74. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,162,471 shares of company stock valued at $34,341,845. Company insiders own 16.40% of the company's stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Pathstone Family Office LLC acquired a new position in shares of Tenable during the first quarter valued at about $25,000. First Mercantile Trust Co. acquired a new position in Tenable in the first quarter worth about $90,000. State of Tennessee Treasury Department acquired a new position in Tenable in the first quarter worth about $125,000. Citigroup Inc. raised its position in Tenable by 7.0% in the fourth quarter. Citigroup Inc. now owns 7,650 shares of the company's stock worth $183,000 after purchasing an additional 501 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. acquired a new position in Tenable in the first quarter worth about $244,000. 69.96% of the stock is owned by institutional investors and hedge funds.
Tenable Holdings, Inc provides cybersecurity solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company enterprise software platform enables visibility into an organization's cyber exposure across the attack surface and deep insights that help organizations translate vulnerability data into business insights to understand and reduce their cybersecurity risk.
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7 Virus-Resistant Retail Stocks to Own Now
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