Tenable (NASDAQ:TENB) Trading Down 5.7% - Should You Sell?

Key Points

• Tenable shares fell 5.7% to about $36.16 in midday trading, on volume 84% below the stock’s average daily volume.
• Analyst sentiment is mixed: the stock has a consensus “Hold” rating from 20 analysts, with an average price target of $34.68, although recent targets range from $29 to $50.
• Tenable exceeded quarterly expectations, reporting $0.51 in EPS and $268.5 million in revenue, with revenue up 8.6% year over year. Institutional investors remain heavily involved, owning approximately 89.1% of outstanding shares.

Tenable Holdings, Inc. (NASDAQ:TENB - Get Free Report) fell 5.7% during mid-day trading on Monday . The company traded as low as $35.71 and last traded at $36.1610. 527,741 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 3,247,836 shares. The stock had previously closed at $38.33.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TENB. Wedbush reiterated an "outperform" rating and issued a $29.00 price objective on shares of Tenable in a report on Tuesday, May 26th. Scotiabank raised Tenable from a "sector perform" rating to a "sector outperform" rating and set a $50.00 target price for the company in a research note on Monday, July 6th. Barclays dropped their price target on shares of Tenable from $41.00 to $38.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 30th. Wall Street Zen raised shares of Tenable from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 1st. Finally, Cantor Fitzgerald boosted their target price on shares of Tenable from $30.00 to $45.00 and gave the stock an "overweight" rating in a report on Friday, July 24th. Eight research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Tenable has a consensus rating of "Hold" and an average target price of $34.68.

Tenable Price Performance

The stock has a market cap of $3.95 billion, a P/E ratio of 718.24 and a beta of 0.94. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.78. The company's fifty day simple moving average is $33.95 and its 200-day simple moving average is $25.64.

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

Institutional Investors Weigh In On Tenable

A number of hedge funds and other institutional investors have recently modified their holdings of TENB. Vanguard Group Inc. lifted its position in shares of Tenable by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 15,427,510 shares of the company's stock worth $363,009,000 after buying an additional 465,039 shares during the last quarter. BlackRock Inc. bought a new position in shares of Tenable during the 2nd quarter worth $498,387,000. Ameriprise Financial Inc. raised its stake in shares of Tenable by 11.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 7,179,473 shares of the company's stock valued at $209,354,000 after purchasing an additional 713,291 shares during the period. First Trust Advisors LP lifted its position in Tenable by 31.8% during the fourth quarter. First Trust Advisors LP now owns 4,243,625 shares of the company's stock valued at $99,852,000 after purchasing an additional 1,023,671 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in Tenable by 175.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,732,271 shares of the company's stock valued at $63,131,000 after purchasing an additional 2,375,587 shares during the last quarter. Institutional investors and hedge funds own 89.06% of the company's stock.

Tenable Company Profile

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.

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