Tenable (NASDAQ:TENB) Price Target Raised to $43.00 at UBS Group

Key Points

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Tenable (NASDAQ:TENB - Get Free Report) had its target price increased by analysts at UBS Group from $40.00 to $43.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. UBS Group's target price would suggest a potential upside of 31.58% from the company's previous close.

Several other equities analysts have also issued reports on the company. Stifel Nicolaus reduced their price target on Tenable from $45.00 to $30.00 and set a "hold" rating on the stock in a research report on Wednesday, April 30th. JPMorgan Chase & Co. reduced their price target on Tenable from $53.00 to $43.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Robert W. Baird reduced 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. Needham & Company LLC lifted their price objective on Tenable from $35.00 to $42.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Barclays lifted their price objective on Tenable from $33.00 to $39.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Tenable has a consensus rating of "Moderate Buy" and an average target price of $41.00.

Tenable Price Performance

Shares of NASDAQ TENB traded up $0.44 during trading hours on Thursday, reaching $32.68. 859,325 shares of the stock traded hands, compared to its average volume of 1,372,342. The company has a market capitalization of $3.99 billion, a P/E ratio of -88.32 and a beta of 0.80. 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 has a 52-week low of $28.75 and a 52-week high of $47.19. The company's 50-day simple moving average is $32.95 and its two-hundred day simple moving average is $35.21.

Tenable (NASDAQ:TENB - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.04. Tenable had a negative return on equity of 3.11% and a negative net margin of 4.86%. The business had revenue of $247.30 million for the quarter, compared to analyst estimates of $242.15 million. During the same period last year, the company earned $0.31 EPS. Tenable's revenue for the quarter was up 11.8% compared to the same quarter last year. Equities research analysts forecast that Tenable will post 0.12 EPS for the current year.

Insider Buying and Selling at Tenable

In other Tenable news, CEO Mark C. Thurmond sold 2,483 shares of the business's stock in a transaction dated 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 sale, the chief executive officer owned 72,727 shares of the company's stock, valued at approximately $2,359,991.15. The trade was a 3.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Barron Anschutz sold 970 shares of the company's stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $33.08, for a total value of $32,087.60. Following the completion of the transaction, the insider directly owned 58,311 shares of the company's stock, valued at approximately $1,928,927.88. This trade represents a 1.64% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,815 shares of company stock valued at $669,797. Company insiders own 1.50% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake 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 purchasing an additional 575 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC purchased a new position in shares of Tenable during the 4th quarter valued at about $35,000. Johnson Financial Group Inc. purchased a new position in shares of Tenable during the 4th quarter valued at about $53,000. Byrne Asset Management LLC grew its position 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 valued at $47,000 after acquiring an additional 727 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Tenable in the 1st quarter worth about $69,000. 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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