Needham & Company LLC Issues Pessimistic Forecast for Tenable (NASDAQ:TENB) Stock Price

Tenable (NASDAQ:TENB) had its price objective lowered by investment analysts at Needham & Company LLC from $38.00 to $28.00 in a research report issued to clients and investors on Thursday. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price target suggests a potential upside of 17.15% from the company’s previous close.

Several other research firms have also recently weighed in on TENB. DA Davidson set a $32.00 price objective on shares of Tenable in a research report on Thursday, October 30th. Barclays lowered their price target on Tenable from $33.00 to $28.00 and set an “equal weight” rating on the stock in a report on Monday. Wall Street Zen raised Tenable from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Morgan Stanley set a $30.00 price objective on Tenable in a research report on Thursday, December 18th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Tenable in a report on Wednesday, October 8th. Ten research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $36.88.

Tenable Price Performance

NASDAQ TENB opened at $23.90 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.03. Tenable has a 1 year low of $22.51 and a 1 year high of $45.44. The company has a market cap of $2.85 billion, a PE ratio of -88.52 and a beta of 0.64. The stock’s 50-day moving average price is $25.89 and its two-hundred day moving average price is $29.23.

Tenable (NASDAQ:TENB) last announced its earnings results on Wednesday, October 29th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.37 by $0.05. The firm had revenue of $252.44 million during the quarter, compared to analyst estimates of $247.43 million. During the same quarter in the previous year, the business earned $0.32 earnings per share. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. Tenable has set its FY 2025 guidance at 1.510-1.540 EPS and its Q4 2025 guidance at 0.390-0.430 EPS. On average, analysts predict that Tenable will post 0.12 EPS for the current year.

Insider Buying and Selling

In related news, Director A Brooke Seawell sold 115,000 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $24.82, for a total transaction of $2,854,300.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Barron Anschutz sold 976 shares of the business’s stock in a transaction that occurred on Friday, October 17th. The stock was sold at an average price of $29.10, for a total transaction of $28,401.60. Following the completion of the sale, the insider directly owned 61,420 shares of the company’s stock, valued at $1,787,322. This represents a 1.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Tenable

Several institutional investors have recently bought and sold shares of TENB. Royal Bank of Canada lifted its position in shares of Tenable by 11.5% in the first quarter. Royal Bank of Canada now owns 124,839 shares of the company’s stock worth $4,367,000 after buying an additional 12,868 shares during the last quarter. Amundi raised its stake in shares of Tenable by 1.2% in the 1st quarter. Amundi now owns 58,149 shares of the company’s stock valued at $1,939,000 after acquiring an additional 676 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Tenable by 132.8% in the 1st quarter. AQR Capital Management LLC now owns 245,111 shares of the company’s stock worth $8,574,000 after purchasing an additional 139,831 shares during the last quarter. Caxton Associates LLP bought a new stake in Tenable during the first quarter worth approximately $466,000. Finally, Woodline Partners LP grew its holdings in Tenable by 1,765.8% during the first quarter. Woodline Partners LP now owns 190,215 shares of the company’s stock valued at $6,654,000 after purchasing an additional 180,020 shares during the last quarter. 89.06% of the stock is currently owned by institutional investors.

Tenable Company Profile

Tenable Holdings, Inc is a global cybersecurity company specializing in vulnerability management and continuous threat exposure assessment. Headquartered in Columbia, Maryland, Tenable was founded in 2002 by Ron Gula and Jack Huffard to address the growing need for proactive network security solutions. Over the years, the company has evolved from a pioneer in open-source vulnerability scanning to a leading provider of comprehensive security platforms that help organizations identify, investigate and prioritize cyber risks across on-premises, cloud and operational technology environments.

At the core of Tenable’s product suite is Nessus, one of the industry’s most widely adopted vulnerability scanners.