Stifel Nicolaus Issues Positive Forecast for Tenable (NASDAQ:TENB) Stock Price

Key Points

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Tenable (NASDAQ:TENB - Get Free Report) had its price objective increased by equities research analysts at Stifel Nicolaus from $30.00 to $35.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a "hold" rating on the stock. Stifel Nicolaus' price objective would indicate a potential upside of 13.76% from the company's previous close.

TENB has been the topic of several other research reports. Morgan Stanley lowered their target price on Tenable from $40.00 to $30.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. JPMorgan Chase & Co. lowered their target price on Tenable from $53.00 to $43.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Robert W. Baird lowered their target price on Tenable from $44.00 to $40.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Westpark Capital reaffirmed a "hold" rating on shares of Tenable in a research note on Wednesday, April 30th. Finally, Barclays increased their price objective on Tenable from $33.00 to $39.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $41.06.

Tenable Price Performance

NASDAQ:TENB traded up $0.20 during trading hours on Thursday, hitting $30.77. The company's stock had a trading volume of 123,280 shares, compared to its average volume of 1,391,760. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market capitalization of $3.76 billion, a PE ratio of -83.16 and a beta of 0.76. Tenable has a 52-week low of $28.75 and a 52-week high of $45.44. The business's 50-day moving average is $32.91 and its two-hundred day moving average is $35.01.

Tenable (NASDAQ:TENB - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.04. The company had revenue of $247.30 million for the quarter, compared to analyst estimates of $242.15 million. Tenable had a negative return on equity of 3.22% and a negative net margin of 4.74%. Tenable's revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.31 earnings per share. As a group, research analysts anticipate that Tenable will post 0.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Stephen A. Vintz sold 3,386 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $32.45, for a total value of $109,875.70. Following the transaction, the chief executive officer directly owned 328,008 shares in the company, valued at $10,643,859.60. This trade represents a 1.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mark C. Thurmond sold 2,483 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $32.45, for a total value of $80,573.35. Following the completion of the transaction, the chief executive officer owned 72,727 shares in the company, valued at approximately $2,359,991.15. This trade represents a 3.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,815 shares of company stock valued at $669,797. Insiders own 1.50% of the company's stock.

Hedge Funds Weigh In On Tenable

A number of large investors have recently modified their holdings of TENB. Assenagon Asset Management S.A. raised its holdings in shares of Tenable by 1,043.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 3,239,624 shares of the company's stock worth $109,434,000 after purchasing an additional 2,956,367 shares during the period. Norges Bank purchased a new position in shares of Tenable in the 4th quarter worth about $54,950,000. Nuveen LLC purchased a new position in shares of Tenable in the 1st quarter worth about $35,330,000. Shapiro Capital Management LLC raised its holdings in shares of Tenable by 647.5% in the 4th quarter. Shapiro Capital Management LLC now owns 1,060,055 shares of the company's stock worth $41,745,000 after purchasing an additional 918,235 shares during the period. Finally, Penserra Capital Management LLC raised its holdings in shares of Tenable by 47.6% during the 1st quarter. Penserra Capital Management LLC now owns 1,687,589 shares of the company's stock valued at $59,031,000 after buying an additional 544,375 shares during the period. 89.06% of the stock is currently owned by hedge funds and other institutional investors.

Tenable Company Profile

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.