Weiss Ratings Reaffirms "Sell (E+)" Rating for Tenable (NASDAQ:TENB)

Key Points

• Weiss Ratings has reaffirmed its "Sell (E+)" rating on Tenable (NASDAQ:TENB), indicating ongoing concerns about the company's stock performance.
• Despite the negative outlook from Weiss Ratings, other analysts provide mixed reviews, with nine analysts rating the stock as a Buy and an average target price of $41.06.
• Tenable reported strong quarterly earnings with a net revenue increase of 11.8% compared to the previous year, surpassing analyst consensus estimates for both earnings and revenue.

Tenable (NASDAQ:TENB - Get Free Report)'s stock had its "sell (e+)" rating restated by equities research analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

TENB has been the subject of a number of other research reports. Jefferies Financial Group restated a "hold" rating and set a $38.00 price objective (up previously from $37.00) on shares of Tenable in a report on Thursday, July 31st. UBS Group upped their price target on shares of Tenable from $40.00 to $43.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Barclays raised their price objective on shares of Tenable from $33.00 to $39.00 and gave the stock an "equal weight" rating in a report on Monday, July 14th. Wall Street Zen raised shares of Tenable from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 13th. Finally, Morgan Stanley raised their price objective on shares of Tenable from $28.00 to $32.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Nine equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $41.06.

Tenable Stock Performance

NASDAQ TENB opened at $29.90 on Wednesday. Tenable has a 52-week low of $28.51 and a 52-week high of $45.44. The company has a 50-day simple moving average of $30.08 and a 200 day simple moving average of $31.93. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market capitalization of $3.62 billion, a PE ratio of -80.81 and a beta of 0.73.

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

Insider Activity

In other Tenable news, CEO Mark C. Thurmond sold 28,500 shares of the firm'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 of the company's stock, valued at $3,095,240.50. This trade represents a 21.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director A Brooke Seawell sold 4,622 shares of the business's stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $30.12, for a total transaction of $139,214.64. Following the completion of the transaction, the director directly owned 15,000 shares of the company's stock, valued at approximately $451,800. This represents a 23.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold 64,549 shares of company stock valued at $1,954,751 in the last quarter. 1.50% of the stock is currently owned by company insiders.

Institutional Trading of Tenable

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Xponance Inc. boosted its stake in Tenable by 6.6% during the first quarter. Xponance Inc. now owns 9,021 shares of the company's stock worth $316,000 after acquiring an additional 562 shares in the last quarter. Fiera Capital Corp boosted its stake in Tenable by 1.1% during the first quarter. Fiera Capital Corp now owns 59,626 shares of the company's stock worth $2,086,000 after acquiring an additional 651 shares in the last quarter. Amundi boosted its stake in Tenable by 1.2% during the first quarter. Amundi now owns 58,149 shares of the company's stock worth $1,939,000 after acquiring an additional 676 shares in the last quarter. Byrne Asset Management LLC raised its holdings in 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 buying an additional 727 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co raised its holdings in Tenable by 5.2% in the second quarter. Elo Mutual Pension Insurance Co now owns 16,535 shares of the company's stock worth $559,000 after buying an additional 814 shares during the last quarter. Hedge funds and other 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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