Tenable’s (TENB) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Tenable (NASDAQ:TENB) in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a $62.00 price target on the stock.

Other equities analysts also recently issued research reports about the stock. Susquehanna upped their price objective on shares of Tenable from $55.00 to $60.00 and gave the company a positive rating in a report on Thursday, February 8th. Truist Financial upped their price target on shares of Tenable from $50.00 to $60.00 and gave the company a buy rating in a research note on Wednesday, February 7th. Stephens lifted their price objective on shares of Tenable from $60.00 to $62.00 and gave the stock an overweight rating in a research note on Wednesday, February 7th. Westpark Capital raised Tenable from a hold rating to a buy rating and set a $65.00 target price on the stock in a research report on Friday, January 12th. Finally, Wells Fargo & Company raised their target price on Tenable from $55.00 to $60.00 and gave the stock an overweight rating in a research note on Wednesday, February 7th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Tenable has a consensus rating of Moderate Buy and a consensus target price of $57.20.

Tenable Price Performance

NASDAQ TENB opened at $45.99 on Tuesday. The firm’s fifty day simple moving average is $47.40 and its two-hundred day simple moving average is $45.12. The firm has a market capitalization of $5.46 billion, a P/E ratio of -67.63 and a beta of 0.94. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.04. Tenable has a 12-month low of $33.85 and a 12-month high of $53.50.

Tenable (NASDAQ:TENB) last announced its earnings results on Tuesday, February 6th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.06. Tenable had a negative return on equity of 15.19% and a negative net margin of 9.80%. The firm had revenue of $213.31 million for the quarter, compared to the consensus estimate of $206.95 million. Analysts forecast that Tenable will post -0.12 EPS for the current fiscal year.

Insider Activity

In related news, CEO Amit Yoran sold 12,329 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $46.22, for a total transaction of $569,846.38. Following the sale, the chief executive officer now directly owns 304,444 shares of the company’s stock, valued at $14,071,401.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Tenable news, Director Linda Kay Zecher sold 2,600 shares of Tenable stock in a transaction on Friday, February 9th. The shares were sold at an average price of $50.75, for a total value of $131,950.00. Following the completion of the transaction, the director now owns 2 shares of the company’s stock, valued at $101.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Amit Yoran sold 12,329 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $46.22, for a total transaction of $569,846.38. Following the sale, the chief executive officer now directly owns 304,444 shares in the company, valued at $14,071,401.68. The disclosure for this sale can be found here. Insiders sold a total of 317,382 shares of company stock valued at $15,021,615 in the last quarter. 4.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tenable

Several institutional investors and hedge funds have recently modified their holdings of TENB. Norges Bank purchased a new position in shares of Tenable during the 4th quarter valued at approximately $56,568,000. William Blair Investment Management LLC raised its position in Tenable by 36.6% during the third quarter. William Blair Investment Management LLC now owns 3,028,310 shares of the company’s stock worth $135,668,000 after acquiring an additional 810,831 shares during the period. Readystate Asset Management LP purchased a new position in Tenable during the fourth quarter valued at $32,199,000. First Trust Advisors LP grew its position in shares of Tenable by 18.0% in the fourth quarter. First Trust Advisors LP now owns 4,452,555 shares of the company’s stock valued at $205,085,000 after purchasing an additional 680,477 shares during the period. Finally, Lord Abbett & CO. LLC increased its stake in shares of Tenable by 114.7% during the third quarter. Lord Abbett & CO. LLC now owns 1,006,755 shares of the company’s stock worth $45,103,000 after purchasing an additional 537,886 shares in 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.