Tenable (NASDAQ:TENB) Now Covered by Scotiabank

Scotiabank initiated coverage on shares of Tenable (NASDAQ:TENB - Free Report) in a research report report published on Friday morning, MarketBeat.com reports. The brokerage issued a sector perform rating and a $47.00 price target on the stock.

Other analysts also recently issued reports about the stock. Needham & Company LLC restated a buy rating and set a $62.00 target price on shares of Tenable in a report on Tuesday. Stephens raised their target price on shares of Tenable from $60.00 to $62.00 and gave the stock an overweight rating in a report on Wednesday, February 7th. Morgan Stanley upgraded shares of Tenable from an equal weight rating to an overweight rating and raised their target price for the stock from $46.00 to $60.00 in a report on Tuesday, January 9th. Truist Financial raised their target price on shares of Tenable from $50.00 to $60.00 and gave the stock a buy rating in a report on Wednesday, February 7th. Finally, Wedbush restated an outperform rating and set a $65.00 target price on shares of Tenable in a report on Wednesday, April 10th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $57.20.

Tenable Trading Up 1.3 %

Shares of NASDAQ TENB traded up $0.61 during mid-day trading on Friday, hitting $45.99. The company's stock had a trading volume of 603,171 shares, compared to its average volume of 937,358. The stock has a market cap of $5.46 billion, a price-to-earnings ratio of -66.74 and a beta of 0.94. The company's fifty day simple moving average is $47.50 and its 200-day simple moving average is $45.11. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.19 and a quick ratio of 1.19. Tenable has a one year low of $33.85 and a one year high of $53.50.

Tenable (NASDAQ:TENB - Get Free Report) last announced its quarterly earnings results on Tuesday, February 6th. The company reported ($0.06) earnings per share for the quarter, beating analysts' consensus estimates of ($0.12) by $0.06. The business had revenue of $213.31 million for the quarter, compared to the consensus estimate of $206.95 million. Tenable had a negative net margin of 9.80% and a negative return on equity of 15.19%. On average, sell-side analysts anticipate that Tenable will post -0.12 earnings per share for the current fiscal year.

Insider Activity at Tenable

In other Tenable news, Director Linda Kay Zecher sold 2,600 shares of Tenable stock in a transaction on Friday, February 9th. The shares were sold at an average price of $50.75, for a total transaction of $131,950.00. Following the completion of the transaction, the director now directly owns 2 shares of the company's stock, valued at $101.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Tenable news, Director Linda Kay Zecher sold 2,600 shares of Tenable stock in a transaction on Friday, February 9th. The shares were sold at an average price of $50.75, for a total transaction of $131,950.00. Following the completion of the transaction, the director now directly owns 2 shares of the company's stock, valued at $101.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Mark C. Thurmond sold 1,089 shares of Tenable stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $47.73, for a total transaction of $51,977.97. Following the transaction, the chief operating officer now directly owns 48,846 shares of the company's stock, valued at $2,331,419.58. The disclosure for this sale can be found here. Over the last three months, insiders sold 317,382 shares of company stock valued at $15,021,615. 4.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tenable

A number of hedge funds and other institutional investors have recently modified their holdings of TENB. Dakota Wealth Management acquired a new stake in shares of Tenable during the third quarter worth $210,000. Raymond James & Associates lifted its holdings in shares of Tenable by 4.8% during the third quarter. Raymond James & Associates now owns 17,336 shares of the company's stock worth $777,000 after buying an additional 800 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Tenable by 2.0% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 45,740 shares of the company's stock worth $2,049,000 after buying an additional 904 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Tenable by 0.9% during the third quarter. Mackenzie Financial Corp now owns 3,021,637 shares of the company's stock worth $131,955,000 after buying an additional 27,875 shares in the last quarter. Finally, Emerald Advisers LLC raised its stake in Tenable by 7.7% in the third quarter. Emerald Advisers LLC now owns 795,198 shares of the company's stock valued at $35,625,000 after purchasing an additional 56,677 shares in the last quarter. Institutional investors and hedge funds own 89.06% of the company's stock.

Tenable Company Profile

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.