Tenable Holdings, Inc. (NASDAQ:TENB) Receives $47.76 Average Price Target from Brokerages

Tenable Holdings, Inc. (NASDAQ:TENB) has earned a consensus rating of “Moderate Buy” from the eighteen analysts that are presently covering the stock, MarketBeat reports. Seven investment analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $46.71.

A number of equities research analysts have weighed in on the company. Stephens started coverage on Tenable in a research report on Tuesday, April 1st. They set an “equal weight” rating and a $42.00 price target on the stock. Morgan Stanley reduced their price target on shares of Tenable from $40.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Scotiabank boosted their price objective on shares of Tenable from $44.00 to $45.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 21st. Stifel Nicolaus cut shares of Tenable from a “buy” rating to a “hold” rating and cut their price objective for the company from $46.00 to $45.00 in a research note on Friday, January 17th. Finally, Cantor Fitzgerald began coverage on shares of Tenable in a research note on Monday, March 31st. They issued an “overweight” rating and a $50.00 price target for the company.

Insider Activity at Tenable

In related news, Director Linda Kay Zecher sold 2,500 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $37.00, for a total value of $92,500.00. Following the completion of the transaction, the director now directly owns 353 shares in the company, valued at $13,061. This trade represents a 87.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark C. Thurmond sold 1,341 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $39.56, for a total transaction of $53,049.96. Following the sale, the chief executive officer now directly owns 41,266 shares in the company, valued at $1,632,482.96. The trade was a 3.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,128 shares of company stock worth $539,256 over the last 90 days. 4.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tenable

Several institutional investors and hedge funds have recently modified their holdings of TENB. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Tenable by 858.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 642 shares of the company’s stock valued at $25,000 after purchasing an additional 575 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of Tenable during the fourth quarter valued at approximately $35,000. SBI Securities Co. Ltd. bought a new stake in shares of Tenable during the fourth quarter valued at approximately $38,000. Byrne Asset Management LLC raised its holdings in Tenable by 115.4% in the 1st quarter. Byrne Asset Management LLC now owns 1,357 shares of the company’s stock worth $47,000 after acquiring an additional 727 shares during the last quarter. Finally, Johnson Financial Group Inc. bought a new position in Tenable in the 4th quarter valued at approximately $53,000. 89.06% of the stock is currently owned by institutional investors.

Tenable Price Performance

Tenable stock opened at $31.97 on Thursday. The business has a 50-day simple moving average of $36.30 and a 200 day simple moving average of $39.63. Tenable has a 52 week low of $30.50 and a 52 week high of $49.18. The stock has a market cap of $3.84 billion, a price-to-earnings ratio of -106.57 and a beta of 0.88. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.88.

Tenable (NASDAQ:TENB) last announced its earnings results on Wednesday, February 5th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.26). Tenable had a negative net margin of 4.03% and a negative return on equity of 2.07%. On average, research analysts forecast that Tenable will post 0.12 earnings per share for the current fiscal year.

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.