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

Needham & Company LLC reissued their buy rating on shares of Tenable (NASDAQ:TENB) in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a $62.00 price objective on the stock.

Other equities analysts have also recently issued reports about the company. Scotiabank initiated coverage on Tenable in a report on Friday, April 26th. They set a sector perform rating and a $47.00 price target on the stock. Morgan Stanley upgraded Tenable from an equal weight rating to an overweight rating and increased their price target for the stock from $46.00 to $60.00 in a report on Tuesday, January 9th. Stephens upped their target price on Tenable from $60.00 to $62.00 and gave the stock an overweight rating in a research report on Wednesday, February 7th. Wells Fargo & Company lifted their price target on shares of Tenable from $55.00 to $60.00 and gave the company an overweight rating in a research report on Wednesday, February 7th. Finally, Wedbush restated an outperform rating and set a $65.00 price target on shares of Tenable in a research note on Wednesday, April 10th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Tenable currently has a consensus rating of Moderate Buy and a consensus target price of $57.20.

Tenable Stock Down 1.3 %

Shares of TENB stock opened at $44.60 on Thursday. The business’s 50 day simple moving average is $47.06 and its 200 day simple moving average is $45.18. Tenable has a one year low of $33.85 and a one year 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.

Tenable (NASDAQ:TENB) last posted its quarterly earnings results on Tuesday, February 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.06. The firm had revenue of $213.31 million for the quarter, compared to analysts’ expectations of $206.95 million. Tenable had a negative return on equity of 10.59% and a negative net margin of 8.18%. As a group, equities analysts anticipate that Tenable will post -0.14 earnings per share for the current fiscal year.

Insider Activity at Tenable

In related news, CEO Amit Yoran sold 12,329 shares of the stock in a transaction dated 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 owns 304,444 shares in the company, valued at $14,071,401.68. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CFO Stephen A. Vintz sold 15,505 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $49.56, for a total transaction of $768,427.80. Following the completion of the sale, the chief financial officer now owns 257,924 shares in the company, valued at approximately $12,782,713.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Amit Yoran sold 12,329 shares of the firm’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 transaction of $569,846.38. Following the sale, the chief executive officer now owns 304,444 shares of the company’s stock, valued at approximately $14,071,401.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 317,382 shares of company stock valued at $15,021,615. 4.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Tenable

Several large investors have recently modified their holdings of the stock. Norges Bank bought a new stake in Tenable during the 4th quarter valued at $56,568,000. William Blair Investment Management LLC grew its position in shares of Tenable by 36.6% during the 3rd quarter. William Blair Investment Management LLC now owns 3,028,310 shares of the company’s stock valued at $135,668,000 after purchasing an additional 810,831 shares in the last quarter. Readystate Asset Management LP purchased a new position in shares of Tenable during the 4th quarter valued at $32,199,000. First Trust Advisors LP grew its position in shares of Tenable by 18.0% during the 4th quarter. First Trust Advisors LP now owns 4,452,555 shares of the company’s stock valued at $205,085,000 after purchasing an additional 680,477 shares in the last quarter. Finally, Lord Abbett & CO. LLC grew its position in shares of Tenable by 114.7% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,006,755 shares of the company’s stock valued at $45,103,000 after purchasing an additional 537,886 shares in the last quarter. 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.