Tenable (NASDAQ:TENB) Price Target Raised to $32.00

Key Points

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Tenable (NASDAQ:TENB - Get Free Report) had its price objective increased by research analysts at Morgan Stanley from $28.00 to $32.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Morgan Stanley's target price points to a potential upside of 4.01% from the stock's previous close.

Several other research firms also recently issued reports on TENB. Wedbush lifted their price objective on Tenable from $40.00 to $42.00 and gave the stock an "outperform" rating in a report on Thursday. JPMorgan Chase & Co. decreased 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 lifted their target price on Tenable from $35.00 to $42.00 and gave the stock a "buy" rating in a research report on Thursday. DA Davidson decreased their target price on Tenable from $45.00 to $28.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. Finally, Wells Fargo & Company reiterated an "overweight" rating and issued a $45.00 target price (up previously from $40.00) on shares of Tenable in a research report on Thursday. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $41.06.

Tenable Stock Up 0.6%

TENB stock traded up $0.20 during midday trading on Thursday, hitting $30.77. 123,280 shares of the company's stock were exchanged, compared to its average volume of 1,391,760. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.93. Tenable has a 12-month low of $28.75 and a 12-month high of $45.44. The firm has a 50 day moving average price of $32.91 and a 200-day moving average price of $35.01. The stock has a market capitalization of $3.76 billion, a price-to-earnings ratio of -83.16 and a beta of 0.76.

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

Insider Transactions at Tenable

In related news, insider Barron Anschutz sold 1,245 shares of the company's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $31.98, for a total value of $39,815.10. Following the completion of the sale, the insider owned 57,905 shares of the company's stock, valued at $1,851,801.90. This represents a 2.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Stephen A. Vintz sold 6,499 shares of the company's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $31.98, for a total transaction of $207,838.02. Following the completion of the sale, the chief executive officer directly owned 331,394 shares of the company's stock, valued at $10,597,980.12. The trade was a 1.92% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,815 shares of company stock valued at $669,797. 1.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tenable

Several institutional investors have recently bought and sold shares of the stock. Summit Investment Advisors Inc. lifted its holdings in Tenable by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 12,336 shares of the company's stock worth $486,000 after purchasing an additional 390 shares during the period. Xponance Inc. raised its position in shares of Tenable by 6.6% during the first quarter. Xponance Inc. now owns 9,021 shares of the company's stock worth $316,000 after purchasing an additional 562 shares during the period. Tidal Investments LLC raised its position in shares of Tenable by 1.8% during the fourth quarter. Tidal Investments LLC now owns 32,082 shares of the company's stock worth $1,263,000 after purchasing an additional 564 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Tenable by 858.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 642 shares of the company's stock worth $25,000 after purchasing an additional 575 shares during the period. Finally, Fiera Capital Corp raised its position in shares of Tenable by 1.1% during the first quarter. Fiera Capital Corp now owns 59,626 shares of the company's stock worth $2,086,000 after purchasing an additional 651 shares during the period. Institutional investors and hedge funds own 89.06% of the company's stock.

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.