Tenable (NASDAQ:TENB) Stock Falls 5.4% - Here's Why

Key Points

• Tenable shares fell 5.4% to $33.93 in heavy trading, despite the company recently exceeding quarterly EPS and revenue expectations.
• Analyst sentiment is mixed: Scotiabank upgraded the stock to outperform, while Piper Sandler, Barclays and Jefferies lowered their targets. The consensus rating remains “Hold,” with an average price target of $34.68.
• Tenable’s quarterly revenue rose 8.6% year over year to $268.51 million, and institutional investors own 89.06% of the company’s shares.

Tenable Holdings, Inc. (NASDAQ:TENB - Get Free Report) shares fell 5.4% on Friday. The stock traded as low as $33.97 and last traded at $33.93. Approximately 1,598,723 shares traded hands during trading, a decline of 54% from the average daily volume of 3,509,115 shares. The stock had previously closed at $35.88.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Scotiabank raised Tenable from a "sector perform" rating to a "sector outperform" rating and set a $50.00 price objective for the company in a report on Monday, July 6th. Piper Sandler cut Tenable from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $35.00 to $30.00 in a research report on Thursday, July 30th. Barclays decreased their price target on Tenable from $41.00 to $38.00 and set an "equal weight" rating for the company in a report on Thursday, July 30th. Jefferies Financial Group lowered their price objective on Tenable from $35.00 to $30.00 and set a "hold" rating on the stock in a research report on Thursday, July 30th. Finally, Wall Street Zen cut shares of Tenable from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 19th. Seven analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $34.68.

Tenable Price Performance

The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.78. The stock has a 50-day moving average price of $35.10 and a 200 day moving average price of $28.52. The stock has a market capitalization of $3.74 billion, a price-to-earnings ratio of 679.06 and a beta of 0.96.

Tenable (NASDAQ:TENB - Get Free Report) last released its quarterly 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. Tenable had a return on equity of 14.90% and a net margin of 0.65%.The company had revenue of $268.51 million during the quarter, compared to analysts' expectations of $264.87 million. During the same quarter in the prior year, the firm posted $0.34 EPS. Tenable's quarterly revenue was up 8.6% compared to the same quarter last year. Tenable has set its FY 2026 guidance at 1.950-2.000 EPS and its Q3 2026 guidance at 0.490-0.520 EPS. As a group, equities research analysts expect that Tenable Holdings, Inc. will post 0.5 earnings per share for the current year.

Hedge Funds Weigh In On Tenable

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pinnacle Wealth Management Advisory Group LLC acquired a new stake in shares of Tenable in the second quarter valued at about $214,000. Integrated Wealth Concepts LLC purchased a new position in Tenable in the 2nd quarter valued at about $197,000. Allworth Financial LP boosted its holdings in Tenable by 25.6% in the 2nd quarter. Allworth Financial LP now owns 2,838 shares of the company's stock worth $105,000 after buying an additional 579 shares during the last quarter. Nykredit A S purchased a new stake in Tenable during the 2nd quarter worth approximately $198,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Tenable during the 2nd quarter worth approximately $3,582,000. 89.06% of the stock is owned by hedge funds and other 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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