Tenable (NASDAQ:TENB) Trading Down 3.9% - Time to Sell?

Key Points

• Tenable shares fell 3.9% to about $32.61 in midday trading, with volume significantly below the average session level.
• Analyst sentiment remains mixed: the stock has an overall “Hold” rating and a consensus price target of $34.68, after Truist and Jefferies lowered their targets to $30.
• Tenable exceeded quarterly expectations with $0.51 EPS and $268.5 million in revenue, up 8.6% year over year; institutional investors own approximately 89.1% of the shares.

Tenable Holdings, Inc. (NASDAQ:TENB - Get Free Report) shares fell 3.9% during mid-day trading on Tuesday . The stock traded as low as $32.67 and last traded at $32.6050. Approximately 469,832 shares were traded during mid-day trading, a decline of 85% from the average session volume of 3,194,807 shares. The stock had previously closed at $33.94.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TENB. Wall Street Zen raised Tenable from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 1st. Truist Financial dropped their price objective on shares of Tenable from $40.00 to $30.00 and set a "hold" rating on the stock in a report on Thursday, July 30th. Robert W. Baird set a $34.00 target price on shares of Tenable in a research report on Thursday, April 30th. Jefferies Financial Group reduced their target price on shares of Tenable from $35.00 to $30.00 and set a "hold" rating for the company in a research note on Thursday, July 30th. Finally, Stephens upped their price target on shares of Tenable from $24.00 to $29.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 26th. Eight equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $34.68.

Tenable Stock Performance

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 company has a market capitalization of $3.54 billion, a P/E ratio of 642.33 and a beta of 0.94. The business has a 50 day moving average of $34.88 and a 200-day moving average of $26.19.

Tenable (NASDAQ:TENB - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.51 earnings per share (EPS) 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 analysts' expectations of $264.87 million. Tenable had a return on equity of 14.90% and a net margin of 0.65%.The firm's quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $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. On average, sell-side analysts predict that Tenable Holdings, Inc. will post 0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Tenable

A number of large investors have recently modified their holdings of TENB. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Tenable during the 2nd quarter worth approximately $3,582,000. California State Teachers Retirement System boosted its holdings in Tenable by 3,258.3% in the 2nd quarter. California State Teachers Retirement System now owns 4,807,898 shares of the company's stock valued at $177,315,000 after purchasing an additional 4,664,733 shares during the period. Readystate Asset Management LP purchased a new position in shares of Tenable during the 2nd quarter valued at $7,376,000. HB Wealth Management LLC bought a new position in shares of Tenable in the second quarter worth $286,000. Finally, Nykredit A S purchased a new stake in shares of Tenable in the second quarter worth $198,000. 89.06% of the stock is currently owned by institutional investors.

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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