Needham & Company LLC Lowers Tenable (NASDAQ:TENB) Price Target to $35.00

Tenable (NASDAQ:TENB - Free Report) had its price target cut by Needham & Company LLC from $50.00 to $35.00 in a research note published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

TENB has been the topic of a number of other research reports. JPMorgan Chase & Co. reduced their target price on Tenable from $53.00 to $43.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. UBS Group decreased their target price on shares of Tenable from $55.00 to $47.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Cantor Fitzgerald initiated coverage on shares of Tenable in a research report on Monday, March 31st. They set an "overweight" rating and a $50.00 price target for the company. Truist Financial decreased their price objective on shares of Tenable from $48.00 to $45.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Finally, Scotiabank lifted their target price on shares of Tenable from $44.00 to $45.00 and gave the company a "sector perform" rating in a report on Tuesday, January 21st. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $40.44.

Tenable Trading Up 0.1 %

Shares of TENB stock traded up $0.03 on Wednesday, hitting $30.77. 1,984,179 shares of the stock traded hands, compared to its average volume of 1,006,944. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.28 and a current ratio of 1.28. Tenable has a twelve month low of $28.75 and a twelve month high of $49.18. The firm's 50-day moving average price is $34.47 and its two-hundred day moving average price is $38.80. The stock has a market capitalization of $3.70 billion, a PE ratio of -102.57 and a beta of 0.88.

Tenable (NASDAQ:TENB - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.08. The company 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 revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.25 EPS. As a group, analysts anticipate that Tenable will post 0.12 EPS 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 that occurred on Tuesday, March 11th. The shares were sold at an average price of $37.00, for a total value of $92,500.00. Following the sale, the director now directly owns 353 shares of the company's stock, valued at approximately $13,061. This represents a 87.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Stephen A. Vintz sold 6,681 shares of Tenable stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $38.16, for a total transaction of $254,946.96. Following the sale, the chief executive officer now directly owns 316,523 shares of the company's stock, valued at approximately $12,078,517.68. This trade represents a 2.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,128 shares of company stock worth $539,256. Company insiders own 1.50% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Assenagon Asset Management S.A. purchased a new position in Tenable in the fourth quarter valued at approximately $15,653,000. Nordea Investment Management AB lifted its holdings in shares of Tenable by 10.4% in the 4th quarter. Nordea Investment Management AB now owns 267,519 shares of the company's stock valued at $10,489,000 after purchasing an additional 25,247 shares during the last quarter. Barclays PLC boosted its holdings in shares of Tenable by 31.9% in the third quarter. Barclays PLC now owns 731,626 shares of the company's stock valued at $29,646,000 after acquiring an additional 177,048 shares during the period. Harbor Capital Advisors Inc. grew its position in Tenable by 430.7% during the 4th quarter. Harbor Capital Advisors Inc. now owns 248,117 shares of the company's stock worth $9,771,000 after purchasing an additional 201,360 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in Tenable by 41.9% in the fourth quarter. Wells Fargo & Company MN now owns 67,831 shares of the company's stock valued at $2,671,000 after purchasing an additional 20,031 shares during the period. Hedge funds and other institutional investors own 89.06% of the company's stock.

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.