Tenable’s (TENB) “Outperform” Rating Reiterated at Wedbush

Wedbush reissued their outperform rating on shares of Tenable (NASDAQ:TENB) in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has a $65.00 price target on the stock.

Several other equities research analysts also recently issued reports on TENB. Stephens increased their price objective on Tenable from $60.00 to $62.00 and gave the stock an overweight rating in a research note on Wednesday, February 7th. Truist Financial lifted their target price on Tenable from $50.00 to $60.00 and gave the company a buy rating in a research note on Wednesday, February 7th. Westpark Capital raised Tenable from a hold rating to a buy rating and set a $65.00 target price on the stock in a research note on Friday, January 12th. Morgan Stanley upgraded Tenable from an equal weight rating to an overweight rating and lifted their price target for the company from $46.00 to $60.00 in a report on Tuesday, January 9th. Finally, Susquehanna lifted their price target on Tenable from $55.00 to $60.00 and gave the company a positive rating in a report on Thursday, February 8th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $57.20.

Tenable Price Performance

Tenable stock opened at $44.60 on Thursday. 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 moving average of $47.06 and a 200-day moving average of $45.18. Tenable has a 52 week low of $33.85 and a 52 week high of $53.50.

Tenable (NASDAQ:TENB) last announced its quarterly earnings results on Tuesday, February 6th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.06. The company had revenue of $213.31 million for the quarter, compared to analyst estimates of $206.95 million. Tenable had a negative net margin of 8.18% and a negative return on equity of 10.59%. Equities analysts expect that Tenable will post -0.14 earnings per share for the current year.

Insider Buying and Selling at Tenable

In other Tenable news, Director Linda Kay Zecher sold 2,600 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $50.75, for a total value of $131,950.00. Following the completion of the sale, the director now directly owns 2 shares in the company, valued at $101.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Tenable news, Director Linda Kay Zecher sold 2,600 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $50.75, for a total value of $131,950.00. Following the completion of the sale, the director now directly owns 2 shares in the company, valued at $101.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Amit Yoran sold 12,329 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $46.22, for a total value of $569,846.38. Following the completion of the sale, the chief executive officer now owns 304,444 shares of the company’s stock, valued at $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 valued at $15,021,615. 4.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Dakota Wealth Management acquired a new stake in shares of Tenable in the third quarter valued at approximately $210,000. Raymond James & Associates lifted its holdings in Tenable by 4.8% during the 3rd quarter. Raymond James & Associates now owns 17,336 shares of the company’s stock worth $777,000 after purchasing an additional 800 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Tenable by 2.0% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 45,740 shares of the company’s stock worth $2,049,000 after purchasing an additional 904 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in Tenable by 0.9% during the 3rd quarter. Mackenzie Financial Corp now owns 3,021,637 shares of the company’s stock worth $131,955,000 after purchasing an additional 27,875 shares during the last quarter. Finally, Emerald Advisers LLC lifted its holdings in Tenable by 7.7% during the 3rd quarter. Emerald Advisers LLC now owns 795,198 shares of the company’s stock worth $35,625,000 after purchasing an additional 56,677 shares during the last quarter. 89.06% of the stock is currently owned by institutional investors.

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.