Tenable (NASDAQ:TENB) Shares Gap Up - Here's Why

Key Points

• Tenable shares jumped 10%, opening at $36.35 versus a prior close of $33.66 and later trading near $37.32.
• The company beat quarterly expectations, reporting $0.51 EPS versus $0.47 expected and $268.5 million in revenue, up 8.6% year over year.
• Analyst sentiment remains mixed: Tenable has a consensus “Hold” rating and a $34.68 price target, while institutional investors own approximately 89.1% of the stock.

Shares of Tenable Holdings, Inc. (NASDAQ:TENB - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $33.66, but opened at $36.35. Tenable shares last traded at $37.3150, with a volume of 1,112,937 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have issued reports on TENB shares. JPMorgan Chase & Co. increased their price objective on Tenable from $35.00 to $40.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 30th. Piper Sandler lowered shares of Tenable from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $35.00 to $30.00 in a report on Thursday, July 30th. UBS Group dropped their target price on shares of Tenable from $37.00 to $34.00 and set a "neutral" rating for the company in a research report on Thursday, July 30th. Wall Street Zen raised shares of Tenable from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 1st. Finally, Stephens lifted their price target on shares of Tenable from $24.00 to $29.00 and gave the company an "equal weight" rating in a report on Tuesday, May 26th. Eight investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $34.68.

Tenable Trading Up 10.0%

The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a market cap of $4.08 billion, a P/E ratio of 736.91 and a beta of 0.94. The company has a 50-day simple moving average of $35.14 and a 200-day simple moving average of $26.38.

Tenable (NASDAQ:TENB - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.47 by $0.04. Tenable had a return on equity of 14.90% and a net margin of 0.65%.The company had revenue of $268.51 million for the quarter, compared to analysts' expectations of $264.87 million. During the same quarter in the prior year, the business earned $0.34 earnings per share. The business's revenue for the quarter was up 8.6% on a year-over-year basis. Tenable has set its FY 2026 guidance at 1.950-2.000 EPS and its Q3 2026 guidance at 0.490-0.520 EPS. On average, sell-side analysts forecast that Tenable Holdings, Inc. will post 0.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Tenable

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of Tenable in the second quarter valued at approximately $498,387,000. California State Teachers Retirement System lifted its holdings in Tenable by 3,258.3% during the 2nd quarter. California State Teachers Retirement System now owns 4,807,898 shares of the company's stock worth $177,315,000 after buying an additional 4,664,733 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Tenable by 175.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,732,271 shares of the company's stock worth $63,131,000 after buying an additional 2,375,587 shares in the last quarter. UBS Group AG boosted its position in Tenable by 327.6% in the 4th quarter. UBS Group AG now owns 3,092,577 shares of the company's stock valued at $72,768,000 after buying an additional 2,369,402 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in Tenable in the 2nd quarter valued at $76,759,000. Institutional investors and hedge funds own 89.06% of the company's stock.

Tenable Company Profile

Tenable Holdings, Inc is a global cybersecurity company specializing in vulnerability management and continuous threat exposure assessment. Headquartered in Columbia, Maryland, Tenable was founded in 2002 by Ron Gula and Jack Huffard to address the growing need for proactive network security solutions. Over the years, the company has evolved from a pioneer in open-source vulnerability scanning to a leading provider of comprehensive security platforms that help organizations identify, investigate and prioritize cyber risks across on-premises, cloud and operational technology environments.

At the core of Tenable's product suite is Nessus, one of the industry's most widely adopted vulnerability scanners.

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