Jefferies Financial Group Lowers Tenable (NASDAQ:TENB) Price Target to $24.00

Tenable (NASDAQ:TENB) had its price objective dropped by analysts at Jefferies Financial Group from $29.00 to $24.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “hold” rating on the stock. Jefferies Financial Group’s price target would indicate a potential upside of 8.99% from the company’s current price.

A number of other equities analysts have also weighed in on TENB. JPMorgan Chase & Co. dropped their price objective on shares of Tenable from $44.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday, October 27th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Tenable in a research report on Thursday, January 22nd. Scotiabank cut their price target on Tenable from $37.00 to $31.00 and set a “sector perform” rating for the company in a report on Thursday, October 30th. Needham & Company LLC cut their price target on shares of Tenable from $38.00 to $28.00 and set a “buy” rating for the company in a report on Thursday, January 8th. Finally, Wall Street Zen raised shares of Tenable from a “buy” rating to a “strong-buy” rating in a research report on Sunday, January 25th. Ten equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $34.41.

Tenable Stock Down 0.2%

TENB stock traded down $0.04 during trading on Monday, reaching $22.02. 2,164,077 shares of the stock were exchanged, compared to its average volume of 1,755,709. 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 twelve month low of $21.26 and a twelve month high of $43.68. The firm’s 50 day moving average is $24.26 and its 200 day moving average is $27.87. The firm has a market cap of $2.63 billion, a P/E ratio of -81.56 and a beta of 0.63.

Insider Transactions at Tenable

In related news, Director A Brooke Seawell sold 115,000 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $24.82, for a total transaction of $2,854,300.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Tenable

Several hedge funds and other institutional investors have recently bought and sold shares of TENB. UBS Group AG increased its holdings in Tenable by 327.6% during the 4th quarter. UBS Group AG now owns 3,092,577 shares of the company’s stock valued at $72,768,000 after purchasing an additional 2,369,402 shares in the last quarter. Norges Bank bought a new position in shares of Tenable in the 2nd quarter valued at about $47,983,000. Shapiro Capital Management LLC grew its holdings in Tenable by 38.8% during the 3rd quarter. Shapiro Capital Management LLC now owns 3,612,353 shares of the company’s stock worth $105,336,000 after acquiring an additional 1,010,230 shares during the period. Marshall Wace LLP lifted its stake in Tenable by 272.1% in the second quarter. Marshall Wace LLP now owns 1,237,173 shares of the company’s stock valued at $41,792,000 after buying an additional 904,662 shares during the period. Finally, Barclays PLC increased its stake in Tenable by 98.9% in the third quarter. Barclays PLC now owns 1,675,871 shares of the company’s stock valued at $48,868,000 after purchasing an additional 833,125 shares in 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.