Tenable (NASDAQ:TENB) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Tenable (NASDAQ:TENB) in a report issued on Tuesday, Benzinga reports. Needham & Company LLC currently has a $62.00 price objective on the stock.

Several other equities research analysts also recently issued reports on the stock. Susquehanna raised their price objective on shares of Tenable from $55.00 to $60.00 and gave the stock a positive rating in a research report on Thursday, February 8th. Morgan Stanley upgraded shares of Tenable from an equal weight rating to an overweight rating and raised their price objective for the stock from $46.00 to $60.00 in a research report on Tuesday, January 9th. Truist Financial raised their price objective on shares of Tenable from $50.00 to $60.00 and gave the stock a buy rating in a research report on Wednesday, February 7th. Stephens raised their price objective on shares of Tenable from $60.00 to $62.00 and gave the stock an overweight rating in a research report on Wednesday, February 7th. Finally, Westpark Capital upgraded shares of Tenable from a hold rating to a buy rating and set a $65.00 price target for the company in a research report on Friday, January 12th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $57.93.

Tenable Stock Performance

Tenable stock opened at $45.38 on Tuesday. Tenable has a 52 week low of $33.85 and a 52 week high of $53.50. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.04. The stock has a 50-day simple moving average of $47.50 and a 200 day simple moving average of $45.11.

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

Insider Buying and Selling at Tenable

In other Tenable news, CEO Amit Yoran sold 12,329 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $46.22, for a total transaction of $569,846.38. Following the completion of the transaction, the chief executive officer now directly owns 304,444 shares in the company, valued at $14,071,401.68. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Tenable news, CEO Amit Yoran sold 12,329 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $46.22, for a total transaction of $569,846.38. Following the completion of the transaction, the chief executive officer now directly owns 304,444 shares in the company, valued at $14,071,401.68. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Stephen A. Vintz sold 5,216 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $46.22, for a total transaction of $241,083.52. Following the transaction, the chief financial officer now owns 238,593 shares of the company’s stock, valued at $11,027,768.46. The disclosure for this sale can be found here. Insiders sold a total of 317,382 shares of company stock worth $15,021,615 over the last three months. Corporate insiders own 4.30% of the company’s stock.

Institutional Trading of Tenable

A number of hedge funds and other institutional investors have recently modified their holdings of TENB. Norges Bank bought a new stake in shares of Tenable during the fourth quarter worth $56,568,000. William Blair Investment Management LLC grew its stake in shares of Tenable by 36.6% during the third quarter. William Blair Investment Management LLC now owns 3,028,310 shares of the company’s stock worth $135,668,000 after buying an additional 810,831 shares during the last quarter. Readystate Asset Management LP bought a new stake in shares of Tenable during the fourth quarter worth $32,199,000. First Trust Advisors LP grew its stake in shares of Tenable by 18.0% during the fourth quarter. First Trust Advisors LP now owns 4,452,555 shares of the company’s stock worth $205,085,000 after buying an additional 680,477 shares during the last quarter. Finally, Lord Abbett & CO. LLC grew its stake in shares of Tenable by 114.7% during the third quarter. Lord Abbett & CO. LLC now owns 1,006,755 shares of the company’s stock worth $45,103,000 after buying an additional 537,886 shares during the last quarter. Institutional investors own 89.06% of the company’s stock.

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.