Several other analysts have also recently commented on the company. Monness Crespi & Hardt upped their target price on Tenable from $30.00 to $35.00 and gave the company a buy rating in a report on Thursday, June 11th. Wedbush increased their price target on Tenable from $35.00 to $40.00 and gave the stock an outperform rating in a report on Wednesday. SunTrust Banks upgraded Tenable from a hold rating to a buy rating and increased their price target for the stock from $25.00 to $40.00 in a report on Wednesday. JPMorgan Chase & Co. increased their price target on Tenable from $31.00 to $45.00 and gave the stock an overweight rating in a report on Wednesday. Finally, Zacks Investment Research cut Tenable from a buy rating to a hold rating in a report on Tuesday, June 30th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has an average rating of Buy and an average target price of $36.00.
Shares of TENB stock opened at $33.93 on Wednesday. The business’s 50 day simple moving average is $30.25 and its 200 day simple moving average is $26.72. Tenable has a one year low of $16.28 and a one year high of $36.51. The stock has a market capitalization of $3.43 billion, a PE ratio of -36.88 and a beta of 1.87. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.11 and a quick ratio of 1.11.
Tenable (NASDAQ:TENB) last announced its earnings results on Tuesday, July 28th. The company reported $0.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.25. Tenable had a negative return on equity of 68.92% and a negative net margin of 22.79%. The business had revenue of $107.21 million for the quarter, compared to analysts’ expectations of $102.23 million. During the same period in the prior year, the business posted ($0.10) earnings per share. The firm’s revenue was up 25.6% on a year-over-year basis. As a group, research analysts expect that Tenable will post -0.57 earnings per share for the current year.
In other news, CEO Amit Yoran sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $27.98, for a total transaction of $419,700.00. Following the transaction, the chief executive officer now directly owns 1,349,471 shares of the company’s stock, valued at $37,758,198.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Insight Holdings Group, Llc sold 635,705 shares of the company’s stock in a transaction that occurred on Wednesday, July 22nd. The stock was sold at an average price of $31.35, for a total value of $19,929,351.75. The disclosure for this sale can be found here. Insiders have sold 2,048,426 shares of company stock worth $62,581,158 over the last ninety days. 16.40% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pathstone Family Office LLC purchased a new stake in Tenable in the 1st quarter valued at $25,000. First Mercantile Trust Co. purchased a new stake in Tenable in the 1st quarter valued at $90,000. State of Tennessee Treasury Department purchased a new stake in Tenable in the 1st quarter valued at $125,000. UBS Group AG raised its position in Tenable by 32.8% in the 2nd quarter. UBS Group AG now owns 5,336 shares of the company’s stock valued at $159,000 after buying an additional 1,319 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in Tenable by 27.8% in the 4th quarter. Victory Capital Management Inc. now owns 7,768 shares of the company’s stock valued at $186,000 after buying an additional 1,688 shares during the last quarter. 69.96% of the stock is owned by institutional investors and hedge funds.
Tenable Company Profile
Tenable Holdings, Inc provides cybersecurity solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company enterprise software platform enables visibility into an organization's cyber exposure across the attack surface and deep insights that help organizations translate vulnerability data into business insights to understand and reduce their cybersecurity risk.
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