Tenable Holdings, Inc. (NASDAQ:TENB) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• Tenable has a consensus “Hold” rating from 21 analysts: 11 holds, nine buys and one sell. The average 12-month price target is approximately $33.42.
• The stock opened at $31.37 and is down 3.3%, with a market capitalization of about $3.46 billion. Its 52-week trading range is $15.73 to $43.67.
• Tenable exceeded quarterly expectations, reporting adjusted EPS of $0.47 versus a $0.41 consensus estimate and revenue of $262.06 million, up 9.6% year over year. Institutional investors own approximately 89.06% of the company.

Tenable Holdings, Inc. (NASDAQ:TENB - Get Free Report) has been given a consensus rating of "Hold" by the twenty-one ratings firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $33.4211.

A number of equities research analysts have commented on the company. Scotiabank upgraded Tenable from a "sector perform" rating to a "sector outperform" rating and set a $50.00 target price on the stock in a report on Monday, July 6th. Wells Fargo & Company upped their price objective on Tenable from $19.00 to $20.00 and gave the company an "equal weight" rating in a research report on Thursday, April 30th. Truist Financial reaffirmed a "hold" rating and set a $40.00 price objective (up from $27.00) on shares of Tenable in a research note on Tuesday, July 21st. William Blair downgraded shares of Tenable from an "outperform" rating to a "market perform" rating in a research note on Tuesday, April 28th. Finally, Morgan Stanley set a $27.00 target price on shares of Tenable in a report on Thursday, April 30th.

Tenable Stock Down 3.3%

TENB stock opened at $31.37 on Wednesday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85. The company's 50 day simple moving average is $31.69 and its 200-day simple moving average is $24.43. Tenable has a 12 month low of $15.73 and a 12 month high of $43.67. The firm has a market capitalization of $3.46 billion, a PE ratio of -313.70 and a beta of 0.93.

Tenable (NASDAQ:TENB - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.06. Tenable had a positive return on equity of 7.85% and a negative net margin of 1.15%.The firm had revenue of $262.06 million during the quarter, compared to the consensus estimate of $258.83 million. During the same period in the previous year, the firm posted $0.36 EPS. The company's quarterly revenue was up 9.6% compared to the same quarter last year. Equities analysts expect that Tenable will post 0.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tenable

Several institutional investors and hedge funds have recently modified their holdings of TENB. Quarry LP purchased a new stake in Tenable in the 3rd quarter worth approximately $25,000. Kemnay Advisory Services Inc. acquired a new position in Tenable in the 4th quarter valued at $28,000. Signaturefd LLC lifted its stake in shares of Tenable by 312.9% during the 4th quarter. Signaturefd LLC now owns 1,251 shares of the company's stock worth $29,000 after purchasing an additional 948 shares during the period. Quadrant Capital Group LLC purchased a new position in shares of Tenable during the 4th quarter worth $38,000. Finally, Horizon Investments LLC purchased a new position in shares of Tenable during the 3rd quarter worth $45,000. Hedge funds and other institutional investors own 89.06% of the company's stock.

About Tenable

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.