Brokerages Set Tenable Holdings, Inc. (NASDAQ:TENB) Price Target at $56.63

Tenable Holdings, Inc. (NASDAQ:TENB) has been assigned a consensus rating of “Moderate Buy” from the fifteen brokerages that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $57.20.

Several brokerages recently weighed in on TENB. Morgan Stanley upgraded Tenable from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $46.00 to $60.00 in a report on Tuesday, January 9th. Needham & Company LLC restated a “buy” rating and set a $62.00 target price on shares of Tenable in a report on Tuesday, April 23rd. Wells Fargo & Company increased their price objective on Tenable from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Westpark Capital upgraded Tenable from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a report on Friday, January 12th. Finally, Scotiabank began coverage on Tenable in a report on Friday. They issued a “sector perform” rating and a $47.00 price objective for the company.

Tenable Trading Up 1.3 %

Shares of TENB stock opened at $45.99 on Thursday. The stock has a market capitalization of $5.46 billion, a PE ratio of -67.63 and a beta of 0.94. Tenable has a 1-year low of $33.85 and a 1-year high of $53.50. The business has a 50-day moving average of $47.40 and a 200 day moving average of $45.13. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.19 and a quick ratio of 1.19.

Tenable (NASDAQ:TENB) last issued its earnings results on Tuesday, February 6th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.06. The company had revenue of $213.31 million during the quarter, compared to analysts’ expectations of $206.95 million. Tenable had a negative return on equity of 15.19% and a negative net margin of 9.80%. As a group, sell-side analysts anticipate that Tenable will post -0.12 earnings per share for the current year.

Insider Activity

In other news, Director Linda Kay Zecher sold 2,600 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $50.75, for a total value of $131,950.00. Following the completion of the transaction, the director now owns 2 shares in the company, valued at approximately $101.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Linda Kay Zecher sold 2,600 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $50.75, for a total transaction of $131,950.00. Following the completion of the transaction, the director now owns 2 shares of the company’s stock, valued at approximately $101.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Stephen A. Vintz sold 15,505 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $49.56, for a total value of $768,427.80. Following the transaction, the chief financial officer now directly owns 257,924 shares of the company’s stock, valued at approximately $12,782,713.44. The disclosure for this sale can be found here. Insiders sold a total of 317,382 shares of company stock worth $15,021,615 in the last quarter. 4.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Xponance Inc. increased its holdings in shares of Tenable by 3.5% in the 4th quarter. Xponance Inc. now owns 6,939 shares of the company’s stock worth $320,000 after purchasing an additional 232 shares in the last quarter. Fulton Bank N.A. increased its holdings in shares of Tenable by 4.1% in the 1st quarter. Fulton Bank N.A. now owns 7,576 shares of the company’s stock worth $374,000 after purchasing an additional 295 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Tenable by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,708 shares of the company’s stock worth $183,000 after purchasing an additional 312 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Tenable by 4.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 7,160 shares of the company’s stock worth $321,000 after purchasing an additional 332 shares in the last quarter. Finally, Diversified Trust Co increased its holdings in shares of Tenable by 5.5% in the 4th quarter. Diversified Trust Co now owns 6,901 shares of the company’s stock worth $318,000 after purchasing an additional 361 shares in the last quarter. 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.