Tenable (NASDAQ:TENB) Upgraded at BidaskClub

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BidaskClub upgraded shares of Tenable (NASDAQ:TENB) from a buy rating to a strong-buy rating in a research report report published on Saturday, BidAskClub reports.

A number of other equities research analysts have also recently commented on the company. Goldman Sachs Group began coverage on Tenable in a report on Tuesday, March 24th. They set a buy rating and a $29.00 price target on the stock. Morgan Stanley raised their price target on Tenable from $30.00 to $33.00 and gave the company an overweight rating in a report on Wednesday, May 13th. Monness Crespi & Hardt raised their price objective on Tenable from $30.00 to $35.00 and gave the company a buy rating in a research report on Thursday, June 11th. Cowen cut their price objective on Tenable from $36.00 to $30.00 and set an outperform rating for the company in a research report on Tuesday, April 21st. Finally, Zacks Investment Research upgraded Tenable from a hold rating to a buy rating and set a $29.00 price objective for the company in a research report on Saturday, May 2nd. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $33.00.

NASDAQ:TENB opened at $29.16 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.40. The business’s 50-day simple moving average is $29.78 and its two-hundred day simple moving average is $25.75. The stock has a market cap of $2.97 billion, a PE ratio of -28.31 and a beta of 1.89. Tenable has a 52 week low of $16.28 and a 52 week high of $32.10.

Tenable (NASDAQ:TENB) last posted its quarterly earnings results on Tuesday, April 28th. The company reported ($0.09) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.10. The business had revenue of $102.60 million for the quarter, compared to analysts’ expectations of $100.07 million. Tenable had a negative return on equity of 76.21% and a negative net margin of 26.68%. The business’s quarterly revenue was up 27.8% on a year-over-year basis. During the same period last year, the firm earned ($0.13) earnings per share. Sell-side analysts anticipate that Tenable will post -0.85 earnings per share for the current fiscal year.

In other Tenable news, General Counsel Stephen A. Riddick sold 1,457 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $29.18, for a total transaction of $42,515.26. Following the completion of the transaction, the general counsel now owns 10,193 shares in the company, valued at $297,431.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Amit Yoran sold 900 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $30.19, for a total value of $27,171.00. Following the transaction, the chief executive officer now owns 1,349,471 shares of the company’s stock, valued at approximately $40,740,529.49. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,033,137 shares of company stock valued at $30,301,743. 16.40% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in the business. Baird Financial Group Inc. boosted its position in shares of Tenable by 1.3% during the first quarter. Baird Financial Group Inc. now owns 33,794 shares of the company’s stock valued at $739,000 after buying an additional 434 shares during the period. Wells Fargo & Company MN boosted its position in shares of Tenable by 2.3% during the first quarter. Wells Fargo & Company MN now owns 20,970 shares of the company’s stock valued at $458,000 after buying an additional 478 shares during the period. Citigroup Inc. boosted its position in shares of Tenable by 7.0% during the fourth quarter. Citigroup Inc. now owns 7,650 shares of the company’s stock valued at $183,000 after buying an additional 501 shares during the period. Victory Capital Management Inc. boosted its position in shares of Tenable by 8.7% during the fourth quarter. Victory Capital Management Inc. now owns 6,611 shares of the company’s stock valued at $180,000 after buying an additional 531 shares during the period. Finally, Red Spruce Capital LLC boosted its position in shares of Tenable by 3.5% during the first quarter. Red Spruce Capital LLC now owns 22,150 shares of the company’s stock valued at $484,000 after buying an additional 750 shares during the period. Institutional investors and hedge funds own 69.98% of the company’s stock.

Tenable Company Profile

Tenable Holdings, Inc provides cybersecurity solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company enterprise software platform enables visibility into an organization's cyber exposure across the attack surface and deep insights that help organizations translate vulnerability data into business insights to understand and reduce their cybersecurity risk.

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Analyst Recommendations for Tenable (NASDAQ:TENB)

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