Tenable (NASDAQ:TENB) Hits New 1-Year Low - Time to Sell?

Key Points

• Tenable Holdings, Inc. shares reached a new 52-week low of $28.63, following a trading volume of 875,924 shares, indicating a potential downturn in the stock's performance.
• Despite recent struggles, several analysts, including Needham & Company, have issued upgrades, resulting in a consensus rating of "Moderate Buy" with a target price of $41.06.
• The company reported earnings per share (EPS) of $0.34 for the latest quarter, beating estimates, while quarterly revenue grew by 11.8% year-over-year, reflecting ongoing business growth.

Tenable Holdings, Inc. (NASDAQ:TENB - Get Free Report)'s share price reached a new 52-week low on Monday . The company traded as low as $28.67 and last traded at $28.63, with a volume of 875924 shares. The stock had previously closed at $28.99.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TENB shares. Needham & Company LLC boosted their price target on shares of Tenable from $35.00 to $42.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. DA Davidson upped their price objective on shares of Tenable from $32.00 to $34.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Jefferies Financial Group reissued a "hold" rating and issued a $38.00 target price (up from $37.00) on shares of Tenable in a research note on Thursday, July 31st. Morgan Stanley upped their price objective on shares of Tenable from $28.00 to $32.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Finally, Robert W. Baird decreased their price objective on shares of Tenable from $44.00 to $40.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $41.06.

Tenable Stock Down 1.4%

The company's 50-day moving average is $32.68 and its 200 day moving average is $34.59. The company has a market capitalization of $3.49 billion, a PE ratio of -77.24 and a beta of 0.76. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.04 and a current ratio of 1.04.

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

Insider Buying and Selling

In other Tenable news, CEO Mark C. Thurmond sold 5,577 shares of Tenable stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $31.98, for a total transaction of $178,352.46. Following the transaction, the chief executive officer owned 75,210 shares of the company's stock, valued at $2,405,215.80. The trade was a 6.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Barron Anschutz sold 1,245 shares of Tenable stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $31.98, for a total transaction of $39,815.10. Following the transaction, the insider directly owned 57,905 shares in the company, valued at $1,851,801.90. This represents a 2.10% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have 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

Institutional investors and hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. increased its position in Tenable by 18.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,764 shares of the company's stock worth $376,000 after purchasing an additional 1,682 shares during the last quarter. KBC Group NV boosted its stake in shares of Tenable by 19.4% during the first quarter. KBC Group NV now owns 5,652 shares of the company's stock valued at $198,000 after purchasing an additional 919 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Tenable by 41.9% during the fourth quarter. Wells Fargo & Company MN now owns 67,831 shares of the company's stock valued at $2,671,000 after purchasing an additional 20,031 shares during the period. Invesco Ltd. boosted its stake in shares of Tenable by 15.6% during the fourth quarter. Invesco Ltd. now owns 101,337 shares of the company's stock valued at $3,991,000 after purchasing an additional 13,655 shares during the period. Finally, One68 Global Capital LLC purchased a new stake in shares of Tenable during the fourth quarter valued at $591,000. 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.

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