Tenable (NASDAQ:TENB) Stock Rating Reaffirmed by Wedbush

Tenable (NASDAQ:TENB)‘s stock had its “outperform” rating restated by research analysts at Wedbush in a note issued to investors on Wednesday, Benzinga reports. They presently have a $65.00 price target on the stock. Wedbush’s target price would suggest a potential upside of 30.21% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $62.00 price target on shares of Tenable in a report on Tuesday, March 19th. Westpark Capital upgraded shares of 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. Morgan Stanley upgraded shares of Tenable from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $46.00 to $60.00 in a research report on Tuesday, January 9th. Susquehanna lifted their target price on shares of Tenable from $55.00 to $60.00 and gave the stock a “positive” rating in a research report on Thursday, February 8th. Finally, Wells Fargo & Company lifted their target price on shares of Tenable from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Tenable currently has an average rating of “Moderate Buy” and an average price target of $56.63.

Tenable Price Performance

TENB stock opened at $49.92 on Wednesday. The company has a quick ratio of 1.19, a current 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. The firm has a market cap of $5.90 billion, a P/E ratio of -73.41 and a beta of 0.94. The company’s 50-day moving average price is $48.32 and its two-hundred day moving average price is $45.04.

Tenable (NASDAQ:TENB) last released its earnings results on Tuesday, February 6th. The company reported ($0.06) EPS for the quarter, beating 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 firm had revenue of $213.31 million for the quarter, compared to analyst estimates of $206.95 million. On average, analysts anticipate that Tenable will post -0.12 earnings per share for the current fiscal year.

Insider Buying and Selling at Tenable

In other news, CEO Amit Yoran sold 33,201 shares of the company’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $47.90, for a total value of $1,590,327.90. Following the completion of the sale, the chief executive officer now owns 291,532 shares in the company, valued at approximately $13,964,382.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Amit Yoran sold 33,201 shares of the stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $47.90, for a total transaction of $1,590,327.90. Following the completion of the transaction, the chief executive officer now owns 291,532 shares in the company, valued at $13,964,382.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Linda Kay Zecher sold 2,600 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $50.75, for a total transaction of $131,950.00. Following the transaction, the director now owns 2 shares of the company’s stock, valued at approximately $101.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 351,383 shares of company stock worth $16,650,143. 4.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tenable

Institutional investors have recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust purchased a new stake in Tenable during the first quarter valued at about $25,000. NBC Securities Inc. purchased a new stake in Tenable during the third quarter valued at about $27,000. Principal Securities Inc. purchased a new stake in Tenable during the fourth quarter valued at about $35,000. Captrust Financial Advisors lifted its holdings in Tenable by 81.0% during the second quarter. Captrust Financial Advisors now owns 791 shares of the company’s stock valued at $36,000 after purchasing an additional 354 shares during the last quarter. Finally, KBC Group NV purchased a new stake in Tenable during the fourth quarter valued at about $111,000. Institutional investors own 89.06% of the company’s stock.

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.