Tenable (NASDAQ:TENB) Upgraded at Wall Street Zen

Key Points

• Tenable (NASDAQ:TENB) has been upgraded to a "strong-buy" rating by Wall Street Zen, reflecting positive sentiment from analysts.
• Multiple investment firms have raised their target prices for Tenable, with Needham & Company increasing it from $35.00 to $42.00 and UBS raising it from $40.00 to $43.00.
• The company's recent earnings report showed a revenue increase of 11.8% compared to the same quarter last year, with an earnings per share of $0.34, exceeding analysts' estimates.

Wall Street Zen upgraded shares of Tenable (NASDAQ:TENB - Free Report) from a buy rating to a strong-buy rating in a report published on Saturday morning.

A number of other research firms also recently weighed in on TENB. Needham & Company LLC upped their price target on Tenable from $35.00 to $42.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Barclays upped their price target on Tenable from $33.00 to $39.00 and gave the stock an "equal weight" rating in a research note on Monday, July 14th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $45.00 price target (up from $40.00) on shares of Tenable in a research note on Thursday, July 31st. Morgan Stanley increased their price objective on Tenable from $28.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Finally, Stifel Nicolaus increased their price objective on Tenable from $30.00 to $35.00 and gave the stock a "hold" rating in a research note on Thursday, July 31st. Nine investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $41.06.

Tenable Trading Down 1.0%

Shares of NASDAQ TENB traded down $0.31 during trading on Friday, reaching $29.59. The company had a trading volume of 1,176,725 shares, compared to its average volume of 1,282,442. The company's fifty day moving average price is $31.31 and its 200-day moving average price is $32.70. Tenable has a 12 month low of $28.51 and a 12 month high of $45.44. The stock has a market cap of $3.58 billion, a P/E ratio of -79.97 and a beta of 0.73. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.01.

Tenable (NASDAQ:TENB - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.34 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.04. Tenable had a negative return on equity of 3.32% and a negative net margin of 4.74%.The firm had revenue of $247.30 million for the quarter, compared to analyst estimates of $242.15 million. During the same quarter in the previous year, the company posted $0.31 EPS. The business's revenue was up 11.8% on a year-over-year basis. Tenable has set its FY 2025 guidance at 1.450-1.530 EPS. Q3 2025 guidance at 0.360-0.370 EPS. As a group, research analysts expect that Tenable will post 0.12 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Barron Anschutz sold 1,261 shares of the firm's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $30.25, for a total value of $38,145.25. Following the completion of the transaction, the insider directly owned 59,645 shares of the company's stock, valued at $1,804,261.25. This trade represents a 2.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen A. Vintz sold 29,196 shares of the firm's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $30.25, for a total value of $883,179.00. Following the completion of the transaction, the chief executive officer directly owned 358,949 shares of the company's stock, valued at $10,858,207.25. The trade was a 7.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,549 shares of company stock valued at $1,954,751 over the last three months. Insiders own 1.50% of the company's stock.

Institutional Investors Weigh In On Tenable

Large investors have recently added to or reduced their stakes in the business. Elevation Point Wealth Partners LLC purchased a new stake in Tenable during the second quarter valued at about $37,000. Byrne Asset Management LLC grew its stake in shares of Tenable by 115.4% in the first quarter. Byrne Asset Management LLC now owns 1,357 shares of the company's stock worth $47,000 after purchasing an additional 727 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Tenable during the 1st quarter valued at approximately $69,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Tenable by 743.3% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 2,471 shares of the company's stock worth $86,000 after purchasing an additional 2,178 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in Tenable in the 1st quarter worth approximately $109,000. 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.