Needham & Company LLC Reiterates Buy Rating for Tenable (NASDAQ:TENB)

Tenable (NASDAQ:TENB)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a research note issued on Thursday, Benzinga reports. They presently have a $62.00 price objective on the stock. Needham & Company LLC’s price target would indicate a potential upside of 37.69% from the company’s previous close.

Several other research firms also recently commented on TENB. Truist Financial lifted their price objective on shares of Tenable from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Wells Fargo & Company raised their target price on shares of Tenable from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Wedbush reissued an “outperform” rating and set a $65.00 target price on shares of Tenable in a report on Wednesday, April 10th. Stephens raised their target price on shares of Tenable from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Finally, Scotiabank started coverage on shares of Tenable in a report on Friday, April 26th. They set a “sector perform” rating and a $47.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $57.20.

Tenable Price Performance

Shares of TENB opened at $45.03 on Thursday. The company has a market cap of $5.35 billion, a price-to-earnings ratio of -66.22 and a beta of 0.94. Tenable has a twelve month low of $33.85 and a twelve month high of $53.50. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.04. The company has a 50 day moving average of $47.16 and a two-hundred day moving average of $45.17.

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

Insider Activity

In other news, CFO Stephen A. Vintz sold 5,216 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $46.22, for a total value of $241,083.52. Following the sale, the chief financial officer now directly owns 238,593 shares of the company’s stock, valued at approximately $11,027,768.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Stephen A. Vintz sold 2,382 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $47.67, for a total transaction of $113,549.94. Following the sale, the chief financial officer now directly owns 262,969 shares of the company’s stock, valued at approximately $12,535,732.23. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Stephen A. Vintz sold 5,216 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $46.22, for a total transaction of $241,083.52. Following the completion of the sale, the chief financial officer now directly owns 238,593 shares in the company, valued at $11,027,768.46. The disclosure for this sale can be found here. In the last three months, insiders have sold 317,382 shares of company stock valued at $15,021,615. Company insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Tenable

A number of large investors have recently modified their holdings of the company. Xponance Inc. boosted its stake in Tenable by 3.5% during the 4th quarter. Xponance Inc. now owns 6,939 shares of the company’s stock worth $320,000 after purchasing an additional 232 shares during the period. Fulton Bank N.A. boosted its stake in Tenable by 4.1% during the 1st quarter. Fulton Bank N.A. now owns 7,576 shares of the company’s stock worth $374,000 after purchasing an additional 295 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Tenable by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,708 shares of the company’s stock worth $183,000 after purchasing an additional 312 shares during the period. PNC Financial Services Group Inc. boosted its stake in Tenable by 4.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 7,160 shares of the company’s stock worth $321,000 after purchasing an additional 332 shares during the period. Finally, Diversified Trust Co lifted its stake in shares of Tenable by 5.5% in the 4th quarter. Diversified Trust Co now owns 6,901 shares of the company’s stock worth $318,000 after acquiring an additional 361 shares during the period. 89.06% of the stock is owned by hedge funds and other institutional investors.

Tenable Company Profile

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.