Tenable (NASDAQ:TENB) Price Target Raised to $39.00

Tenable (NASDAQ:TENB - Get Free Report) had its price objective raised by equities research analysts at Barclays from $33.00 to $39.00 in a research note issued on Monday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Barclays's target price would indicate a potential upside of 19.05% from the company's current price.

A number of other research firms have also weighed in on TENB. Stifel Nicolaus lowered their price target on shares of Tenable from $45.00 to $30.00 and set a "hold" rating on the stock in a research report on Wednesday, April 30th. Westpark Capital restated a "hold" rating on shares of Tenable in a report on Wednesday, April 30th. Cantor Fitzgerald began coverage on shares of Tenable in a report on Monday, March 31st. They issued an "overweight" rating and a $50.00 price objective on the stock. Morgan Stanley cut their target price on shares of Tenable from $40.00 to $30.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Finally, Truist Financial cut their target price on shares of Tenable from $48.00 to $45.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Eight investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $40.78.

Tenable Trading Up 0.6%

NASDAQ:TENB opened at $32.76 on Monday. The company's 50 day moving average price is $32.77 and its 200-day moving average price is $35.71. The stock has a market cap of $4.00 billion, a price-to-earnings ratio of -88.54 and a beta of 0.80. Tenable has a 52 week low of $28.75 and a 52 week high of $49.18. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.93.

Tenable (NASDAQ:TENB - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.08. Tenable had a negative net margin of 4.86% and a negative return on equity of 3.11%. The company had revenue of $239.14 million during the quarter, compared to analysts' expectations of $234.12 million. During the same period in the previous year, the company earned $0.25 EPS. The firm's quarterly revenue was up 10.7% on a year-over-year basis. On average, equities research analysts forecast that Tenable will post 0.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tenable news, insider Barron Anschutz sold 1,245 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $31.98, for a total value of $39,815.10. Following the transaction, the insider directly owned 57,905 shares of the company's stock, valued at $1,851,801.90. This trade represents a 2.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mark C. Thurmond sold 2,483 shares of the business's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $32.45, for a total transaction of $80,573.35. Following the completion of the transaction, the chief executive officer owned 72,727 shares of the company's stock, valued at approximately $2,359,991.15. This trade represents a 3.30% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,845 shares of company stock valued at $637,709. Company insiders own 1.50% of the company's stock.

Hedge Funds Weigh In On Tenable

A number of large investors have recently bought and sold shares of TENB. Summit Investment Advisors Inc. grew its holdings in Tenable by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 12,336 shares of the company's stock worth $486,000 after acquiring an additional 390 shares in the last quarter. Xponance Inc. lifted its position in shares of Tenable by 6.6% in the 1st quarter. Xponance Inc. now owns 9,021 shares of the company's stock worth $316,000 after buying an additional 562 shares during the last quarter. Tidal Investments LLC lifted its position in shares of Tenable by 1.8% in the 4th quarter. Tidal Investments LLC now owns 32,082 shares of the company's stock worth $1,263,000 after buying an additional 564 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Tenable by 858.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 642 shares of the company's stock worth $25,000 after buying an additional 575 shares during the last quarter. Finally, Fiera Capital Corp lifted its position in shares of Tenable by 1.1% in the 1st quarter. Fiera Capital Corp now owns 59,626 shares of the company's stock worth $2,086,000 after buying an additional 651 shares during the last quarter. Hedge funds and other institutional investors own 89.06% of the company's stock.

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.

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