Tenable (NASDAQ:TENB) Receives New Coverage from Analysts at Scotiabank

Scotiabank initiated coverage on shares of Tenable (NASDAQ:TENB) in a report released on Friday morning, Marketbeat reports. The brokerage issued a sector perform rating and a $47.00 target price on the stock.

A number of other analysts have also recently commented on the stock. Needham & Company LLC reiterated a buy rating and issued a $62.00 target price on shares of Tenable in a research note on Tuesday. Susquehanna upped their target price on Tenable from $55.00 to $60.00 and gave the company a positive rating in a research report on Thursday, February 8th. Truist Financial lifted their price target on Tenable from $50.00 to $60.00 and gave the stock a buy rating in a research report on Wednesday, February 7th. Wells Fargo & Company raised their price objective on Tenable from $55.00 to $60.00 and gave the stock an overweight rating in a research note on Wednesday, February 7th. Finally, Wedbush reaffirmed an outperform rating and set a $65.00 target price on shares of Tenable in a report on Wednesday, April 10th. 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, Tenable presently has an average rating of Moderate Buy and a consensus target price of $57.20.

Tenable Price Performance

Shares of TENB opened at $45.99 on Friday. Tenable has a twelve month low of $33.85 and a twelve month high of $53.50. The company has a 50 day moving average of $47.40 and a two-hundred day moving average of $45.12. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.04. The company has a market cap of $5.46 billion, a price-to-earnings ratio of -67.63 and a beta of 0.94.

Tenable (NASDAQ:TENB) last announced its earnings results on Tuesday, February 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.06. Tenable had a negative return on equity of 15.19% and a negative net margin of 9.80%. The company had revenue of $213.31 million for the quarter, compared to analyst estimates of $206.95 million. As a group, analysts predict that Tenable will post -0.12 earnings per share for the current fiscal year.

Insider Activity at Tenable

In other Tenable news, CFO Stephen A. Vintz sold 5,216 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 $241,083.52. Following the completion of the transaction, the chief financial officer now owns 238,593 shares in the company, valued at $11,027,768.46. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Stephen A. Vintz sold 5,216 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $46.22, for a total value of $241,083.52. Following the completion of the sale, the chief financial officer now directly owns 238,593 shares in the company, valued at $11,027,768.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Amit Yoran sold 12,329 shares of the stock in a transaction that occurred on 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 317,382 shares of company stock worth $15,021,615. 4.30% of the stock is owned by company insiders.

Institutional Trading of Tenable

A number of institutional investors and hedge funds have recently modified their holdings of the stock. NBC Securities Inc. purchased a new stake in Tenable during the 3rd quarter worth approximately $27,000. Principal Securities Inc. purchased a new stake in shares of Tenable during the fourth quarter worth approximately $35,000. SG Americas Securities LLC acquired a new position in Tenable in the 4th quarter valued at $127,000. Verity & Verity LLC acquired a new stake in Tenable during the 1st quarter worth $127,000. Finally, Shell Asset Management Co. acquired a new stake in Tenable during the 3rd quarter worth $138,000. Hedge funds and other institutional investors own 89.06% of the company’s stock.

Tenable Company Profile

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.