Tenable (NASDAQ:TENB) Receives Buy Rating from Needham & Company LLC

Tenable (NASDAQ:TENB - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at Needham & Company LLC in a note issued to investors on Tuesday, Benzinga reports. They presently have a $62.00 price objective on the stock. Needham & Company LLC's price target indicates a potential upside of 34.34% from the company's current price.

TENB has been the topic of a number of other research reports. Truist Financial boosted their target price on Tenable from $50.00 to $60.00 and gave the company a "buy" rating in a research report on Wednesday, February 7th. Westpark Capital raised Tenable from a "hold" rating to a "buy" rating and set a $65.00 price objective on the stock in a research report on Friday, January 12th. Susquehanna upped their price objective on Tenable from $55.00 to $60.00 and gave the stock a "positive" rating in a research report on Thursday, February 8th. Wells Fargo & Company upped their price objective on Tenable from $55.00 to $60.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 7th. Finally, Morgan Stanley raised Tenable from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $46.00 to $60.00 in a research report on Tuesday, January 9th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $56.63.

Tenable Trading Up 2.5 %

Shares of TENB stock traded up $1.12 during trading on Tuesday, hitting $46.15. 576,235 shares of the stock traded hands, compared to its average volume of 951,330. The firm has a market capitalization of $5.48 billion, a P/E ratio of -66.22 and a beta of 0.94. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.19 and a quick ratio of 1.19. The firm's fifty day moving average price is $47.77 and its 200-day moving average price is $45.10. Tenable has a 52-week low of $33.85 and a 52-week high of $53.50.

Tenable (NASDAQ:TENB - Get Free Report) last released its quarterly earnings results on Tuesday, February 6th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.06. The firm had revenue of $213.31 million for the quarter, compared to analyst estimates of $206.95 million. Tenable had a negative net margin of 9.80% and a negative return on equity of 15.19%. As a group, research analysts forecast that Tenable will post -0.12 earnings per share for the current fiscal year.

Insider Transactions at Tenable

In related news, COO Mark C. Thurmond sold 3,976 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $47.34, for a total transaction of $188,223.84. Following the completion of the transaction, the chief operating officer now directly owns 53,500 shares of the company's stock, valued at $2,532,690. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Mark C. Thurmond sold 1,089 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $47.73, for a total transaction of $51,977.97. Following the completion of the transaction, the chief operating officer now directly owns 48,846 shares of the company's stock, valued at $2,331,419.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Mark C. Thurmond sold 3,976 shares of the stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $47.34, for a total transaction of $188,223.84. Following the transaction, the chief operating officer now directly owns 53,500 shares of the company's stock, valued at $2,532,690. The disclosure for this sale can be found here. Over the last quarter, insiders sold 317,382 shares of company stock worth $15,021,615. Company insiders own 4.30% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. NBC Securities Inc. purchased a new position in Tenable in the third quarter valued at about $27,000. Principal Securities Inc. purchased a new position in Tenable in the fourth quarter valued at about $35,000. SG Americas Securities LLC purchased a new position in Tenable in the fourth quarter valued at about $127,000. Shell Asset Management Co. purchased a new position in Tenable in the third quarter valued at about $138,000. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Tenable by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,708 shares of the company's stock valued at $183,000 after purchasing an additional 312 shares during the last quarter. 89.06% of the stock is owned by hedge funds and other institutional investors.

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.