Tenable (NASDAQ:TENB) Stock Price Expected to Rise, Wedbush Analyst Says

Key Points

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Tenable (NASDAQ:TENB - Free Report) had its price target lifted by Wedbush from $40.00 to $42.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

TENB has been the topic of several other reports. Stephens downgraded shares of Tenable from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 1st. Robert W. Baird lowered their target price on shares of Tenable from $44.00 to $40.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. JPMorgan Chase & Co. lowered their target price on shares of Tenable from $53.00 to $43.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. DA Davidson lowered their target price on shares of Tenable from $45.00 to $28.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 30th. Finally, Stifel Nicolaus lowered their target price 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. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $41.06.

Tenable Price Performance

Shares of NASDAQ:TENB traded down $0.74 on Thursday, reaching $30.57. 1,722,086 shares of the company traded hands, compared to its average volume of 1,469,725. Tenable has a fifty-two week low of $28.75 and a fifty-two week high of $45.44. The company's 50 day moving average is $32.91 and its 200-day moving average is $35.10. The stock has a market capitalization of $3.73 billion, a PE ratio of -82.62 and a beta of 0.76. 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 (NASDAQ:TENB - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.04. Tenable had a negative net margin of 4.74% and a negative return on equity of 3.22%. 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. The company's revenue was up 11.8% on a year-over-year basis. As a group, analysts anticipate that Tenable will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tenable news, CEO Mark C. Thurmond sold 2,483 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $32.45, for a total value of $80,573.35. Following the sale, the chief executive officer owned 72,727 shares in the company, valued at $2,359,991.15. This trade represents a 3.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Stephen A. Vintz sold 3,386 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $32.45, for a total transaction of $109,875.70. Following the completion of the sale, the chief executive officer owned 328,008 shares in the company, valued at $10,643,859.60. This represents a 1.02% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,815 shares of company stock worth $669,797. Corporate insiders own 1.50% of the company's stock.

Hedge Funds Weigh In On Tenable

A number of hedge funds have recently modified their holdings of the business. FMR LLC lifted its holdings in shares of Tenable by 2.0% during the fourth quarter. FMR LLC now owns 15,515,164 shares of the company's stock worth $610,987,000 after purchasing an additional 304,237 shares during the period. Ameriprise Financial Inc. raised its stake in Tenable by 5.6% during the first quarter. Ameriprise Financial Inc. now owns 5,918,686 shares of the company's stock worth $207,038,000 after buying an additional 312,299 shares during the last quarter. RGM Capital LLC raised its stake in Tenable by 2.0% during the first quarter. RGM Capital LLC now owns 3,772,624 shares of the company's stock worth $131,966,000 after buying an additional 72,607 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Tenable by 1,043.7% during the second quarter. Assenagon Asset Management S.A. now owns 3,239,624 shares of the company's stock worth $109,434,000 after buying an additional 2,956,367 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Tenable by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 2,803,231 shares of the company's stock worth $110,416,000 after buying an additional 8,746 shares during the last quarter. Institutional investors and hedge funds 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.