UBS Group Cuts Tenable (NASDAQ:TENB) Price Target to $40.00

Tenable (NASDAQ:TENB - Get Free Report) had its price objective reduced by research analysts at UBS Group from $47.00 to $40.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. UBS Group's target price would suggest a potential upside of 30.73% from the company's previous close.

TENB has been the topic of a number of other reports. Stephens began coverage on Tenable in a report on Tuesday, April 1st. They set an "equal weight" rating and a $42.00 price target on the stock. Morgan Stanley decreased their price objective on shares of Tenable from $40.00 to $30.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Barclays cut their target price on Tenable from $48.00 to $40.00 and set an "equal weight" rating for the company in a research report on Monday, April 14th. Scotiabank lifted their price target on Tenable from $44.00 to $45.00 and gave the company a "sector perform" rating in a research report on Tuesday, January 21st. Finally, Stifel Nicolaus cut Tenable from a "buy" rating to a "hold" rating and decreased their target price for the company from $46.00 to $45.00 in a research note on Friday, January 17th. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Tenable currently has a consensus rating of "Moderate Buy" and a consensus target price of $44.84.

Tenable Stock Performance

Shares of Tenable stock traded down $3.08 during trading hours on Wednesday, reaching $30.60. The company's stock had a trading volume of 1,410,039 shares, compared to its average volume of 985,778. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.28 and a current ratio of 1.28. Tenable has a one year low of $27.18 and a one year high of $49.18. The company's 50 day simple moving average is $34.95 and its 200 day simple moving average is $39.05. The stock has a market cap of $3.68 billion, a P/E ratio of -101.70 and a beta of 0.88.

Tenable (NASDAQ:TENB - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.36 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.08. Tenable had a negative return on equity of 2.07% and a negative net margin of 4.03%. The firm had revenue of $239.14 million during the quarter, compared to the consensus estimate of $234.12 million. During the same period in the prior year, the business earned $0.25 EPS. The firm's revenue was up 10.7% on a year-over-year basis. As a group, analysts expect that Tenable will post 0.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Stephen A. Vintz sold 6,681 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $38.16, for a total value of $254,946.96. Following the completion of the transaction, the chief executive officer now owns 316,523 shares in the company, valued at $12,078,517.68. This represents a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark C. Thurmond sold 1,341 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $39.56, for a total transaction of $53,049.96. Following the sale, the chief executive officer now owns 41,266 shares in the company, valued at approximately $1,632,482.96. The trade was a 3.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,128 shares of company stock worth $539,256. Corporate insiders own 1.50% of the company's stock.

Hedge Funds Weigh In On Tenable

A number of large investors have recently added to or reduced their stakes in the company. Arizona State Retirement System boosted its holdings in shares of Tenable by 1.0% in the 4th quarter. Arizona State Retirement System now owns 34,560 shares of the company's stock valued at $1,361,000 after buying an additional 332 shares during the last quarter. Summit Investment Advisors Inc. grew its position in shares of Tenable by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 12,336 shares of the company's stock valued at $486,000 after acquiring an additional 390 shares during the period. Oppenheimer & Co. Inc. increased its stake in shares of Tenable by 3.0% during the 4th quarter. Oppenheimer & Co. Inc. now owns 15,650 shares of the company's stock worth $616,000 after purchasing an additional 450 shares during the last quarter. Tidal Investments LLC increased its stake in shares of Tenable by 1.8% during the 4th quarter. Tidal Investments LLC now owns 32,082 shares of the company's stock worth $1,263,000 after purchasing an additional 564 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Tenable by 858.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 642 shares of the company's stock valued at $25,000 after purchasing an additional 575 shares during the period. 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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