Tenable (NASDAQ:TENB) Price Target Raised to $37.00 at Scotiabank

Key Points

• Scotiabank has raised its price target for Tenable (NASDAQ:TENB) from $30.00 to $37.00, indicating a potential upside of 16.70% from the stock's previous close.
• Equities analysts have mixed opinions on TENB, with some maintaining "hold" ratings while others have set price targets ranging from $28.00 to $42.00.
• The company's stock has a consensus rating of "Moderate Buy" and analysts predict that Tenable will post $0.12 EPS for the current fiscal year.

Tenable (NASDAQ:TENB - Get Free Report) had its target price hoisted by analysts at Scotiabank from $30.00 to $37.00 in a report released on Thursday,Benzinga reports. The firm presently has a "sector perform" rating on the stock. Scotiabank's price objective indicates a potential upside of 16.70% from the stock's previous close.

Several other equities analysts also recently weighed in on TENB. Westpark Capital restated a "hold" rating on shares of Tenable in a report on Wednesday, April 30th. Morgan Stanley raised their price target on shares of Tenable from $28.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Thursday. DA Davidson decreased their price objective on Tenable from $45.00 to $28.00 and set a "neutral" rating on the stock in a report on Wednesday, April 30th. Wedbush increased their price objective on shares of Tenable from $40.00 to $42.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, Robert W. Baird lowered their target price 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 eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $42.11.

Tenable Stock Performance

TENB stock traded down $0.54 on Thursday, hitting $31.71. The company's stock had a trading volume of 2,478,203 shares, compared to its average volume of 1,383,075. Tenable has a 1 year low of $28.75 and a 1 year high of $47.19. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.93. The stock has a market cap of $3.87 billion, a price-to-earnings ratio of -85.89 and a beta of 0.80. The firm has a 50 day moving average of $32.95 and a two-hundred day moving average of $35.21.

Tenable (NASDAQ:TENB - Get Free Report) last announced its quarterly earnings data 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 net margin of 4.86% and a negative return on equity of 3.11%. The firm had revenue of $247.30 million during the quarter, compared to the consensus estimate of $242.15 million. During the same quarter last year, the firm earned $0.31 earnings per share. The firm's revenue was up 11.8% compared to the same quarter last year. Equities analysts predict that Tenable will post 0.12 EPS for the current fiscal year.

Insider Buying and Selling at Tenable

In other Tenable news, insider Barron Anschutz sold 970 shares of the firm's stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $33.08, for a total value of $32,087.60. Following the sale, the insider owned 58,311 shares in the company, valued at approximately $1,928,927.88. This trade represents a 1.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Stephen A. Vintz sold 3,386 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $32.45, for a total value of $109,875.70. Following the transaction, 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 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 over the last 90 days. Insiders own 1.50% of the company's stock.

Hedge Funds Weigh In On Tenable

Several hedge funds have recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Tenable by 858.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 642 shares of the company's stock worth $25,000 after acquiring an additional 575 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in Tenable during the fourth quarter valued at approximately $35,000. Johnson Financial Group Inc. bought a new stake in Tenable during the fourth quarter worth approximately $53,000. Byrne Asset Management LLC grew its position in Tenable by 115.4% in the first 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. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Tenable in the first quarter valued at $69,000. 89.06% of the stock is currently owned by institutional investors and hedge funds.

About Tenable

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.