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 research note published on Saturday morning.

TENB has been the subject of a number of other reports. Stifel Nicolaus boosted their target price on shares of Tenable from $30.00 to $35.00 and gave the company a "hold" rating in a report on Thursday, July 31st. UBS Group boosted their target price on shares of Tenable from $40.00 to $43.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Needham & Company LLC boosted their target price on shares of Tenable from $35.00 to $42.00 and gave the company a "buy" rating in a report on Thursday, July 31st. DA Davidson boosted their target price on shares of Tenable from $32.00 to $34.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Finally, Wells Fargo & Company restated an "overweight" rating and issued a $45.00 target price (up from $40.00) on shares of Tenable in a report on Thursday, July 31st. Nine investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $41.06.

Tenable Trading Up 1.9%

Shares of NASDAQ:TENB traded up $0.57 during trading on Friday, reaching $30.38. The stock had a trading volume of 1,606,830 shares, compared to its average volume of 1,317,335. The business has a fifty day moving average price of $31.01 and a 200-day moving average price of $32.61. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.01. The stock has a market cap of $3.68 billion, a P/E ratio of -82.11 and a beta of 0.73. Tenable has a fifty-two week low of $28.51 and a fifty-two week high of $45.44.

Tenable (NASDAQ:TENB - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.04. The business had revenue of $247.30 million during the quarter, compared to analyst estimates of $242.15 million. Tenable had a negative net margin of 4.74% and a negative return on equity of 3.32%. The company's revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.31 earnings per share. 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, analysts anticipate that Tenable will post 0.12 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Mark C. Thurmond sold 28,500 shares of the company's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $30.25, for a total value of $862,125.00. Following the completion of the transaction, the chief executive officer directly owned 102,322 shares in the company, valued at approximately $3,095,240.50. This represents a 21.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director A Brooke Seawell sold 4,622 shares of the company's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $30.12, for a total transaction of $139,214.64. Following the completion of the transaction, the director owned 15,000 shares of the company's stock, valued at $451,800. This trade represents a 23.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 64,549 shares of company stock valued at $1,954,751 over the last ninety days. 1.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Thrivent Financial for Lutherans boosted its stake in shares of Tenable by 50.9% in the second quarter. Thrivent Financial for Lutherans now owns 38,320 shares of the company's stock valued at $1,294,000 after purchasing an additional 12,918 shares during the period. State of Wyoming raised its holdings in Tenable by 1,056.2% in the second quarter. State of Wyoming now owns 16,603 shares of the company's stock valued at $561,000 after acquiring an additional 15,167 shares in the last quarter. FORA Capital LLC acquired a new stake in Tenable in the second quarter valued at $473,000. Headlands Technologies LLC raised its holdings in Tenable by 936.3% in the second quarter. Headlands Technologies LLC now owns 32,189 shares of the company's stock valued at $1,087,000 after acquiring an additional 29,083 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its holdings in Tenable by 0.7% in the second quarter. CANADA LIFE ASSURANCE Co now owns 447,870 shares of the company's stock valued at $15,123,000 after acquiring an additional 3,324 shares in the last quarter. 89.06% of the stock is currently owned by hedge funds and other institutional investors.

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.