Tenable’s (TENB) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Tenable (NASDAQ:TENB) in a research report sent to investors on Tuesday, Benzinga reports. They currently have a $62.00 price target on the stock.

Several other research firms also recently weighed in on TENB. Wells Fargo & Company upped their price objective on shares of Tenable from $55.00 to $60.00 and gave the stock an overweight rating in a report on Wednesday, February 7th. Westpark Capital upgraded shares of Tenable from a hold rating to a buy rating and set a $65.00 target price for the company in a research report on Friday, January 12th. Truist Financial increased their target price on shares of Tenable from $50.00 to $60.00 and gave the stock a buy rating in a research report on Wednesday, February 7th. Wedbush reiterated an outperform rating and set a $65.00 target price on shares of Tenable in a research report on Wednesday, April 10th. Finally, Morgan Stanley upgraded shares of Tenable from an equal weight rating to an overweight rating and increased their target price for the stock from $46.00 to $60.00 in a research report on Tuesday, January 9th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Tenable has an average rating of Moderate Buy and an average target price of $56.63.

Tenable Stock Up 2.5 %

Tenable stock opened at $46.15 on Tuesday. 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’s fifty day moving average is $47.71 and its 200 day moving average is $45.10. The company has a market capitalization of $5.48 billion, a PE ratio of -67.87 and a beta of 0.94.

Tenable (NASDAQ:TENB) last released its quarterly earnings data on Tuesday, February 6th. The company reported ($0.06) earnings per share 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 firm had revenue of $213.31 million for the quarter, compared to the consensus estimate of $206.95 million. As a group, sell-side analysts predict that Tenable will post -0.12 EPS for the current fiscal year.

Insider Activity at Tenable

In related news, COO Mark C. Thurmond sold 3,976 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $47.34, for a total value of $188,223.84. Following the sale, the chief operating officer now directly owns 53,500 shares of the company’s stock, valued at $2,532,690. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Mark C. Thurmond sold 3,976 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $47.34, for a total value of $188,223.84. Following the sale, the chief operating officer now directly owns 53,500 shares of the company’s stock, valued at $2,532,690. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Linda Kay Zecher sold 2,600 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $50.75, for a total transaction of $131,950.00. Following the completion of the sale, the director now directly owns 2 shares in the company, valued at $101.50. The disclosure for this sale can be found here. Insiders have sold 317,382 shares of company stock valued at $15,021,615 over the last three months. 4.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Tenable by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 12,510,817 shares of the company’s stock worth $576,248,000 after acquiring an additional 259,552 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Tenable by 18.0% during the fourth quarter. First Trust Advisors LP now owns 4,452,555 shares of the company’s stock worth $205,085,000 after acquiring an additional 680,477 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of Tenable by 0.5% during the fourth quarter. Mackenzie Financial Corp now owns 3,038,152 shares of the company’s stock worth $139,937,000 after acquiring an additional 16,515 shares in the last quarter. William Blair Investment Management LLC raised its stake in shares of Tenable by 36.6% during the third quarter. William Blair Investment Management LLC now owns 3,028,310 shares of the company’s stock worth $135,668,000 after acquiring an additional 810,831 shares in the last quarter. Finally, Westfield Capital Management Co. LP raised its stake in shares of Tenable by 11.6% during the third quarter. Westfield Capital Management Co. LP now owns 2,195,092 shares of the company’s stock worth $98,340,000 after acquiring an additional 227,977 shares in the last quarter. 89.06% of the stock is owned by hedge funds and other institutional investors.

About Tenable

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.