Tenable (NASDAQ:TENB) Stock Price Up 7.9% - Here's Why

Key Points

• Tenable shares jumped 7.9% to about $39.24, despite trading volume falling 73% below its average daily level.
• The rise followed stronger-than-expected quarterly results: EPS was $0.51 versus $0.47 expected, while revenue reached $268.51 million and grew 8.6% year over year.
• Analyst sentiment has improved, with Needham, JPMorgan, and Scotiabank raising price targets or ratings; however, the overall consensus remains “Hold” with a $34.68 target price.

Tenable Holdings, Inc. (NASDAQ:TENB - Get Free Report) shot up 7.9% during trading on Monday . The stock traded as high as $39.20 and last traded at $39.2440. Approximately 870,064 shares changed hands during trading, a decline of 73% from the average session volume of 3,274,157 shares. The stock had previously closed at $36.38.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Weiss Ratings upgraded shares of Tenable from a "sell (d-)" rating to a "sell (d+)" rating in a report on Wednesday. Needham & Company LLC increased their target price on Tenable from $30.00 to $36.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. JPMorgan Chase & Co. boosted their target price on shares of Tenable from $35.00 to $40.00 and gave the company an "overweight" rating in a research note on Tuesday, June 30th. DA Davidson raised their price target on shares of Tenable from $22.00 to $25.00 and gave the stock a "neutral" rating in a research note on Friday, May 22nd. Finally, Scotiabank upgraded shares of Tenable from a "sector perform" rating to a "sector outperform" rating and set a $50.00 price objective for the company in a report on Monday, July 6th. Eight analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Tenable currently has a consensus rating of "Hold" and a consensus target price of $34.68.

Tenable Trading Up 5.8%

The firm has a market capitalization of $4.24 billion, a P/E ratio of 769.37 and a beta of 0.94. The stock has a 50-day simple moving average of $33.09 and a two-hundred day simple moving average of $25.10. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.78.

Tenable (NASDAQ:TENB - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.04. The business had revenue of $268.51 million for the quarter, compared to the consensus estimate of $264.87 million. Tenable had a return on equity of 14.90% and a net margin of 0.65%.The business's revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.34 EPS. Tenable has set its FY 2026 guidance at 1.950-2.000 EPS and its Q3 2026 guidance at 0.490-0.520 EPS. On average, equities research analysts anticipate that Tenable Holdings, Inc. will post 0.5 earnings per share for the current year.

Institutional Investors Weigh In On Tenable

Large investors have recently modified their holdings of the business. Quarry LP bought a new position in shares of Tenable during the third quarter valued at approximately $25,000. Kemnay Advisory Services Inc. purchased a new stake in Tenable during the fourth quarter worth $28,000. Signaturefd LLC lifted its holdings in Tenable by 312.9% during the fourth quarter. Signaturefd LLC now owns 1,251 shares of the company's stock worth $29,000 after buying an additional 948 shares during the period. Quadrant Capital Group LLC bought a new stake in Tenable during the 4th quarter valued at $38,000. Finally, Horizon Investments LLC purchased a new position in shares of Tenable in the 3rd quarter valued at $45,000. Institutional investors own 89.06% of the company's stock.

About Tenable

Tenable Holdings, Inc is a global cybersecurity company specializing in vulnerability management and continuous threat exposure assessment. Headquartered in Columbia, Maryland, Tenable was founded in 2002 by Ron Gula and Jack Huffard to address the growing need for proactive network security solutions. Over the years, the company has evolved from a pioneer in open-source vulnerability scanning to a leading provider of comprehensive security platforms that help organizations identify, investigate and prioritize cyber risks across on-premises, cloud and operational technology environments.

At the core of Tenable's product suite is Nessus, one of the industry's most widely adopted vulnerability scanners.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source