Analysts Set Tenable Holdings, Inc. (NASDAQ:TENB) Price Target at $41.06

Key Points

• Tenable Holdings, Inc. has received an average consensus rating of "Moderate Buy" from analysts, with nine buy recommendations and eight hold recommendations among seventeen research firms.
• The company's shares opened at $29.62, with a 12-month range between $28.51 and $45.44, and have a market capitalization of $3.59 billion.
• In its most recent earnings report, Tenable recorded a quarterly revenue of $247.30 million, exceeding analyst expectations and representing an 11.8% increase from the previous year.

Tenable Holdings, Inc. (NASDAQ:TENB - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the seventeen ratings firms that are presently covering the company, MarketBeat reports. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $41.0625.

Several brokerages recently issued reports on TENB. Barclays raised their target price on Tenable from $33.00 to $39.00 and gave the stock an "equal weight" rating in a research report on Monday, July 14th. JPMorgan Chase & Co. lowered their target price on Tenable from $53.00 to $43.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Needham & Company LLC raised their target price on Tenable from $35.00 to $42.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. UBS Group raised their target price on Tenable from $40.00 to $43.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Finally, Westpark Capital reaffirmed a "hold" rating on shares of Tenable in a research report on Wednesday, April 30th.

Tenable Price Performance

Shares of TENB traded down $1.57 during trading hours on Wednesday, reaching $29.10. The stock had a trading volume of 1,573,218 shares, compared to its average volume of 1,491,736. Tenable has a 12 month low of $28.51 and a 12 month high of $45.44. The company has a quick ratio of 1.04, a current ratio of 0.94 and a debt-to-equity ratio of 1.01. The company's 50-day moving average is $32.43 and its two-hundred day moving average is $34.32.

Tenable (NASDAQ:TENB - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.34 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.04. Tenable had a negative return on equity of 3.32% and a negative net margin of 4.74%. The company had revenue of $247.30 million during the quarter, compared to analysts' expectations of $242.15 million. During the same period in the prior year, the company earned $0.31 EPS. Tenable's revenue was up 11.8% compared to the same quarter last year. As a group, analysts forecast that Tenable will post 0.12 EPS for the current fiscal year.

Insider Activity

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 completion of the sale, 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Mark C. Thurmond sold 2,483 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $32.45, for a total value of $80,573.35. Following the completion of the sale, the chief executive officer owned 72,727 shares of the company's stock, valued at approximately $2,359,991.15. This represents a 3.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,815 shares of company stock worth $669,797 in the last three months. Company insiders own 1.50% of the company's stock.

Institutional Trading of Tenable

Several large investors have recently made changes to their positions in the company. Ameriprise Financial Inc. grew its stake in shares of Tenable by 5.6% in the 1st quarter. Ameriprise Financial Inc. now owns 5,918,686 shares of the company's stock valued at $207,038,000 after buying an additional 312,299 shares during the period. RGM Capital LLC boosted its stake in Tenable by 2.0% during the 1st quarter. RGM Capital LLC now owns 3,772,624 shares of the company's stock valued at $131,966,000 after purchasing an additional 72,607 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Tenable by 1,043.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 3,239,624 shares of the company's stock valued at $109,434,000 after purchasing an additional 2,956,367 shares during the last quarter. State Street Corp boosted its stake in Tenable by 1.4% during the 2nd quarter. State Street Corp now owns 3,056,055 shares of the company's stock valued at $103,234,000 after purchasing an additional 43,098 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in Tenable by 10.4% during the 2nd quarter. First Trust Advisors LP now owns 2,937,689 shares of the company's stock valued at $99,235,000 after purchasing an additional 276,211 shares during the last quarter. 89.06% of the stock is currently owned by institutional investors and hedge funds.

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.