Tenable (NASDAQ:TENB) Shares Gap Down – Here’s What Happened

Tenable Holdings, Inc. (NASDAQ:TENB) gapped down before the market opened on Wednesday . The stock had previously closed at $38.09, but opened at $36.86. Tenable shares last traded at $36.9380, with a volume of 1,615,520 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Cantor Fitzgerald upped their target price on shares of Tenable from $30.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Canaccord Genuity Group upped their price objective on Tenable from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Wedbush lowered Tenable from an “outperform” rating to an “underperform” rating and set a $29.00 price objective on the stock. in a research report on Thursday, September 10th. Needham & Company LLC boosted their target price on Tenable from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Finally, Susquehanna upped their price target on Tenable from $26.00 to $36.00 and gave the company a “positive” rating in a research note on Thursday, July 30th. Seven research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $34.68.

Tenable Stock Down 0.9%

The company has a market capitalization of $3.97 billion, a P/E ratio of 721.34 and a beta of 0.96. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.78. The firm has a fifty day simple moving average of $35.54 and a 200-day simple moving average of $27.98.

Tenable (NASDAQ:TENB) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.04. The company had revenue of $268.51 million during the quarter, compared to analysts’ expectations of $264.87 million. Tenable had a net margin of 0.65% and a return on equity of 14.90%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.34 earnings per share. Tenable has set its FY 2026 guidance at 1.950-2.000 EPS and its Q3 2026 guidance at 0.490-0.520 EPS. On average, equities research analysts expect that Tenable Holdings, Inc. will post 0.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Allworth Financial LP raised its position in Tenable by 25.6% in the second quarter. Allworth Financial LP now owns 2,838 shares of the company’s stock worth $105,000 after purchasing an additional 579 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Tenable by 36.2% during the second quarter. GAMMA Investing LLC now owns 2,524 shares of the company’s stock valued at $93,000 after purchasing an additional 671 shares in the last quarter. Fulton Bank N.A. boosted its holdings in Tenable by 7.0% during the first quarter. Fulton Bank N.A. now owns 11,645 shares of the company’s stock valued at $197,000 after purchasing an additional 758 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of Tenable by 4.7% in the 4th quarter. ProShare Advisors LLC now owns 22,208 shares of the company’s stock valued at $523,000 after purchasing an additional 997 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Tenable by 0.4% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 253,666 shares of the company’s stock worth $9,355,000 after buying an additional 1,094 shares in the last quarter. Institutional investors own 89.06% of the company’s stock.

About Tenable

Tenable Holdings, Inc is a cybersecurity company that helps organizations identify, assess and reduce cyber risk across their technology environments. Its platform is designed to provide visibility into vulnerabilities and exposures affecting information technology, cloud, operational technology and identity systems.

The company’s product portfolio includes Tenable One, an exposure-management platform that brings together data and capabilities for vulnerability management, attack-surface management and other risk assessments.