Truist Securiti Weighs in on Tenable Holdings, Inc.’s Q2 2021 Earnings (NASDAQ:TENB)


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Tenable Holdings, Inc. (NASDAQ:TENB) – Analysts at Truist Securiti dropped their Q2 2021 earnings estimates for Tenable in a report released on Wednesday, April 28th. Truist Securiti analyst J. Fishbein now anticipates that the company will earn ($0.15) per share for the quarter, down from their prior forecast of ($0.14). Truist Securiti also issued estimates for Tenable’s Q3 2021 earnings at ($0.16) EPS, Q4 2021 earnings at ($0.17) EPS, FY2021 earnings at ($0.51) EPS and FY2022 earnings at ($0.31) EPS.

Several other brokerages have also issued reports on TENB. The Goldman Sachs Group upped their price target on Tenable from $41.00 to $57.00 and gave the company a “buy” rating in a research note on Friday, January 8th. Canaccord Genuity increased their target price on Tenable from $57.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday. Berenberg Bank lowered Tenable from a “buy” rating to a “hold” rating and increased their target price for the company from $43.00 to $51.00 in a research note on Monday, February 8th. Monness Crespi & Hardt increased their target price on Tenable from $44.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, January 7th. Finally, Morgan Stanley increased their target price on Tenable from $48.00 to $67.00 and gave the company an “overweight” rating in a research note on Friday, January 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $52.29.

Tenable stock opened at $36.88 on Monday. Tenable has a 52 week low of $25.62 and a 52 week high of $58.45. The firm has a market cap of $3.89 billion, a P/E ratio of -46.09 and a beta of 1.81. The business’s fifty day moving average is $38.79 and its two-hundred day moving average is $42.32.

Tenable (NASDAQ:TENB) last posted its quarterly earnings data on Tuesday, April 27th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.07. The company had revenue of $123.20 million for the quarter, compared to analyst estimates of $119.72 million. Tenable had a negative return on equity of 56.02% and a negative net margin of 18.87%. The business’s revenue was up 19.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.09) earnings per share.

A number of hedge funds and other institutional investors have recently modified their holdings of TENB. Select Equity Group L.P. boosted its position in Tenable by 16.7% during the fourth quarter. Select Equity Group L.P. now owns 5,323,543 shares of the company’s stock valued at $278,208,000 after purchasing an additional 761,062 shares during the last quarter. Norges Bank acquired a new stake in shares of Tenable in the fourth quarter valued at approximately $36,979,000. Amundi Pioneer Asset Management Inc. lifted its position in shares of Tenable by 28.9% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 2,497,453 shares of the company’s stock valued at $130,517,000 after buying an additional 560,317 shares during the last quarter. Washington Harbour Partners LP acquired a new stake in shares of Tenable in the fourth quarter valued at approximately $28,157,000. Finally, Kornitzer Capital Management Inc. KS lifted its position in shares of Tenable by 217.0% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 784,760 shares of the company’s stock valued at $41,012,000 after buying an additional 537,180 shares during the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.

In related news, General Counsel Stephen A. Riddick sold 7,799 shares of the stock in a transaction that occurred on Monday, February 22nd. The stock was sold at an average price of $43.71, for a total transaction of $340,894.29. Following the completion of the transaction, the general counsel now directly owns 27,684 shares of the company’s stock, valued at $1,210,067.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Stephen A. Vintz sold 131,483 shares of the stock in a transaction that occurred on Tuesday, February 16th. The shares were sold at an average price of $44.98, for a total value of $5,914,105.34. Following the transaction, the chief financial officer now directly owns 183,921 shares of the company’s stock, valued at $8,272,766.58. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 373,568 shares of company stock valued at $15,843,222. 16.40% of the stock is owned by corporate insiders.

Tenable Company Profile

Tenable Holdings, Inc provides cyber exposure solutions for in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan. The company's platforms include Tenable.io, a cloud-delivered software as a service; and Tenable.sc, an on-premises solution. Its platforms provides organizations with a risk-based view of traditional and modern attack surfaces to deliver a complete and continuous view of assets, associated vulnerabilities, internal and regulatory compliance violations, misconfigurations, and other cybersecurity issues, as well as prioritizes these issues for remediation based on risk assessment and predictive analytics, and provides insightful remediation guidance.

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Earnings History and Estimates for Tenable (NASDAQ:TENB)

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