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

Key Points

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Tenable (NASDAQ:TENB - Get Free Report) had its target price hoisted by analysts at Morgan Stanley from $28.00 to $32.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Morgan Stanley's price target would indicate a potential upside of 4.68% from the stock's current price.

TENB has been the topic of a number of other research reports. 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. Robert W. Baird dropped their price target on Tenable from $44.00 to $40.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Wedbush boosted their price target on Tenable from $40.00 to $42.00 and gave the company an "outperform" rating in a research report on Thursday. Barclays boosted their price target on Tenable from $33.00 to $39.00 and gave the company an "equal weight" rating in a research report on Monday, July 14th. Finally, Westpark Capital reiterated a "hold" rating on shares of Tenable in a research report on Wednesday, April 30th. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $41.06.

Tenable Stock Performance

Shares of TENB traded down $0.74 during midday trading on Thursday, reaching $30.57. 1,722,086 shares of the stock were exchanged, compared to its average volume of 1,469,725. The business's 50-day moving average price is $32.91 and its 200 day moving average price is $35.10. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.04 and a quick ratio of 1.04. Tenable has a twelve month low of $28.75 and a twelve month high of $45.44. The company has a market capitalization of $3.73 billion, a price-to-earnings ratio of -82.62 and a beta of 0.76.

Tenable (NASDAQ:TENB - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.34 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $247.30 million for the quarter, compared to analysts' expectations of $242.15 million. During the same quarter in the previous year, the firm earned $0.31 earnings per share. The business's revenue was up 11.8% compared to the same quarter last year. On average, sell-side analysts expect that Tenable will post 0.12 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Tenable

A number of institutional investors and hedge funds have recently bought and sold shares of TENB. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Tenable by 858.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 642 shares of the company's stock valued at $25,000 after buying an additional 575 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of Tenable during the 4th quarter worth $35,000. Byrne Asset Management LLC increased its holdings in shares of Tenable by 115.4% during the 1st quarter. Byrne Asset Management LLC now owns 1,357 shares of the company's stock worth $47,000 after buying an additional 727 shares during the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of Tenable during the 4th quarter worth $53,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Tenable during the 1st quarter worth $69,000. Hedge funds and other institutional investors 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.