Tenable (NASDAQ:TENB) Shares Up 6.5% - Time to Buy?

Key Points

• Tenable shares rose 6.5% to about $37.27 in mid-day trading, although trading volume was 81% below the average daily level.
• Analyst sentiment remains mixed: seven analysts rate the stock a Buy, eleven Hold, and two Sell. The consensus rating is Hold, with an average price target of $34.68.
• Tenable exceeded quarterly earnings and revenue expectations, reporting $0.51 EPS and $268.51 million in revenue, while revenue grew 8.6% year over year. Institutional investors own approximately 89.06% of the company’s shares.

Shares of Tenable Holdings, Inc. (NASDAQ:TENB - Get Free Report) were up 6.5% during mid-day trading on Wednesday. The stock traded as high as $36.85 and last traded at $37.2660. Approximately 648,473 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 3,493,112 shares. The stock had previously closed at $34.99.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Wedbush downgraded shares of Tenable from an "outperform" rating to an "underperform" rating and set a $29.00 target price for the company. in a report on Thursday, September 10th. Stifel Nicolaus raised their price target on Tenable from $26.00 to $31.00 and gave the stock a "hold" rating in a research report on Thursday, July 30th. Jefferies Financial Group decreased their target price on shares of Tenable from $35.00 to $30.00 and set a "hold" rating on the stock in a report on Thursday, July 30th. JPMorgan Chase & Co. boosted their price objective on shares of Tenable from $35.00 to $40.00 and gave the company an "overweight" rating in a research report on Tuesday, June 30th. Finally, Needham & Company LLC raised their target price on Tenable from $30.00 to $36.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Seven equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $34.68.

Tenable Stock Performance

The stock has a market capitalization of $4.09 billion, a P/E ratio of 742.57 and a beta of 0.96. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.78. The company has a 50-day moving average price of $34.92 and a two-hundred day moving average price of $28.81.

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

Institutional Investors Weigh In On Tenable

Several large investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC grew its stake in shares of Tenable by 217.7% during the first quarter. EverSource Wealth Advisors LLC now owns 3,549 shares of the company's stock valued at $60,000 after buying an additional 2,432 shares during the last quarter. Harbor Investment Advisory LLC bought a new position in Tenable in the 2nd quarter worth about $66,000. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Tenable in the fourth quarter valued at approximately $72,000. Northwestern Mutual Wealth Management Co. purchased a new position in Tenable during the 2nd quarter worth $81,000. Finally, KBC Group NV boosted its stake in Tenable by 42.1% in the first quarter. KBC Group NV now owns 4,897 shares of the company's stock valued at $83,000 after acquiring an additional 1,451 shares in the last quarter. 89.06% of the stock is owned by institutional investors.

About Tenable

Tenable Holdings, Inc is a cybersecurity company that helps organizations identify, assess and reduce cyber risk across their technology environments. Its platform is designed to provide visibility into vulnerabilities and exposures affecting information technology, cloud, operational technology and identity systems.

The company's product portfolio includes Tenable One, an exposure-management platform that brings together data and capabilities for vulnerability management, attack-surface management and other risk assessments.

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