Tenable (NASDAQ:TENB) Price Target Raised to $38.00

Tenable (NASDAQ:TENB) had its price objective hoisted by Wells Fargo & Company from $35.00 to $38.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other research firms also recently weighed in on TENB. Weiss Ratings raised Tenable from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, October 8th. Scotiabank upgraded shares of Tenable from a “sector perform” rating to a “sector outperform” rating and set a $50.00 price target on the stock in a research report on Monday, July 6th. Cantor Fitzgerald increased their price objective on Tenable from $30.00 to $45.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. UBS Group reduced their target price on shares of Tenable from $37.00 to $34.00 and set a “neutral” rating on the stock in a research note on Thursday, July 30th. Finally, Wall Street Zen cut Tenable from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 19th. Seven analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $34.84.

Tenable Trading Down 5.4%

NASDAQ TENB opened at $37.20 on Thursday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.78. Tenable has a 1-year low of $15.73 and a 1-year high of $43.67. The firm’s fifty day simple moving average is $36.26 and its 200-day simple moving average is $30.50. The company has a market capitalization of $4.10 billion, a PE ratio of 744.15 and a beta of 1.01.

Tenable (NASDAQ:TENB) last posted its earnings results on Wednesday, July 29th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.04. Tenable had a return on equity of 14.90% and a net margin of 0.65%. The firm had revenue of $268.51 million during the quarter, compared to analyst estimates of $264.87 million. During the same period in the previous year, the company earned $0.34 EPS. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. Tenable has set its FY 2026 guidance at 1.950-2.000 EPS and its Q3 2026 guidance at 0.490-0.520 EPS. As a group, sell-side analysts anticipate that Tenable will post 0.50 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tenable

Several hedge funds have recently added to or reduced their stakes in TENB. BlackRock Inc. bought a new position in Tenable during the 2nd quarter worth $498,387,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Tenable by 175.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,732,271 shares of the company’s stock worth $63,131,000 after purchasing an additional 2,375,587 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in Tenable during the second quarter worth approximately $76,759,000. Renaissance Technologies LLC grew its holdings in Tenable by 140.8% in the first quarter. Renaissance Technologies LLC now owns 1,260,100 shares of the company’s stock worth $21,315,000 after purchasing an additional 736,800 shares during the period. Finally, Freestone Grove Partners LP bought a new stake in shares of Tenable during the second quarter valued at approximately $42,489,000. Institutional investors and hedge funds own 89.06% of the company’s stock.

Tenable Company Profile

Tenable Holdings, Inc (NASDAQ: TENB) is a cybersecurity company focused on exposure management, helping organizations identify, assess and reduce security risks across their technology environments. Its platform is designed to provide visibility into vulnerabilities and other exposures affecting networks, cloud infrastructure, applications, identities and operational technology.

The company’s product portfolio includes Tenable One, an exposure management platform, and Nessus, a widely used vulnerability assessment solution.