Equities Analysts Offer Predictions for Tenable Holdings, Inc.’s Q2 2024 Earnings (NASDAQ:TENB)

Tenable Holdings, Inc. (NASDAQ:TENB) – Research analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for shares of Tenable in a research report issued on Thursday, May 2nd. DA Davidson analyst R. Kessinger forecasts that the company will post earnings of ($0.08) per share for the quarter. The consensus estimate for Tenable’s current full-year earnings is ($0.14) per share. DA Davidson also issued estimates for Tenable’s FY2024 earnings at ($0.14) EPS and FY2025 earnings at ($0.13) EPS.

Tenable (NASDAQ:TENB) last announced its quarterly earnings results on Tuesday, February 6th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.06. Tenable had a negative net margin of 8.18% and a negative return on equity of 10.59%. The firm had revenue of $213.31 million for the quarter, compared to analyst estimates of $206.95 million.

Several other research analysts have also recently weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $62.00 price objective on shares of Tenable in a research report on Thursday, May 2nd. 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 report on Wednesday, February 7th. Wells Fargo & Company lifted their price target on shares of Tenable from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. Morgan Stanley upgraded shares of Tenable from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $46.00 to $60.00 in a research note on Tuesday, January 9th. Finally, Westpark Capital raised 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. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $57.20.

Tenable Stock Up 2.1 %

Shares of TENB stock opened at $45.53 on Monday. The company has a market capitalization of $5.41 billion, a price-to-earnings ratio of -78.50 and a beta of 0.94. Tenable has a 12-month low of $33.85 and a 12-month high of $53.50. The firm has a fifty day moving average of $47.02 and a 200-day moving average of $45.20. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.04.

Institutional Trading of Tenable

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Tenable by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 12,510,817 shares of the company’s stock valued at $576,248,000 after buying an additional 259,552 shares during the period. First Trust Advisors LP lifted its position in shares of Tenable by 18.0% during the 4th quarter. First Trust Advisors LP now owns 4,452,555 shares of the company’s stock valued at $205,085,000 after acquiring an additional 680,477 shares during the period. Mackenzie Financial Corp grew its holdings in shares of Tenable by 0.5% during the 4th quarter. Mackenzie Financial Corp now owns 3,038,152 shares of the company’s stock worth $139,937,000 after purchasing an additional 16,515 shares in the last quarter. William Blair Investment Management LLC increased its position in shares of Tenable by 36.6% in the third quarter. William Blair Investment Management LLC now owns 3,028,310 shares of the company’s stock worth $135,668,000 after purchasing an additional 810,831 shares during the period. Finally, Westfield Capital Management Co. LP raised its stake in Tenable by 11.6% in the third quarter. Westfield Capital Management Co. LP now owns 2,195,092 shares of the company’s stock valued at $98,340,000 after purchasing an additional 227,977 shares in the last quarter. Institutional investors own 89.06% of the company’s stock.

Insider Buying and Selling at Tenable

In related news, CEO Amit Yoran sold 12,329 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $46.22, for a total value of $569,846.38. Following the transaction, the chief executive officer now owns 304,444 shares in the company, valued at approximately $14,071,401.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Tenable news, CEO Amit Yoran sold 12,329 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $46.22, for a total value of $569,846.38. Following the transaction, the chief executive officer now directly owns 304,444 shares of the company’s stock, valued at approximately $14,071,401.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Linda Kay Zecher sold 2,600 shares of the stock in a transaction 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 transaction, the director now owns 2 shares in the company, valued at approximately $101.50. The disclosure for this sale can be found here. Insiders sold 313,406 shares of company stock valued at $14,833,391 in the last quarter. 4.30% of the stock is currently owned by insiders.

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.