Tenable’s (TENB) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Tenable (NASDAQ:TENB) in a research note released on Friday morning, Benzinga reports. The firm currently has a $62.00 target price on the stock.

Several other brokerages have also issued reports on TENB. Wedbush reiterated an outperform rating and issued a $65.00 price target on shares of Tenable in a report on Thursday, May 2nd. Scotiabank began coverage on Tenable in a report on Friday, April 26th. They issued a sector perform rating and a $47.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $57.20.

Tenable Stock Performance

NASDAQ:TENB opened at $40.11 on Friday. The firm has a market capitalization of $4.77 billion, a P/E ratio of -69.16 and a beta of 0.84. Tenable has a twelve month low of $33.85 and a twelve month high of $53.50. The company has a fifty day moving average of $44.27 and a 200-day moving average of $45.84. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.00.

Tenable (NASDAQ:TENB) last posted its quarterly earnings results on Wednesday, May 1st. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.03. The firm had revenue of $215.96 million during the quarter, compared to the consensus estimate of $213.56 million. Tenable had a negative net margin of 8.18% and a negative return on equity of 10.40%. As a group, sell-side analysts anticipate that Tenable will post -0.14 EPS for the current year.

Insider Activity at Tenable

In other news, COO Mark C. Thurmond sold 949 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $43.97, for a total value of $41,727.53. Following the transaction, the chief operating officer now owns 32,906 shares in the company, valued at approximately $1,446,876.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, COO Mark C. Thurmond sold 949 shares of Tenable stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $43.97, for a total transaction of $41,727.53. Following the sale, the chief operating officer now directly owns 32,906 shares in the company, valued at approximately $1,446,876.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stephen A. Vintz sold 15,505 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $49.56, for a total transaction of $768,427.80. Following the completion of the transaction, the chief financial officer now directly owns 257,924 shares in the company, valued at $12,782,713.44. The disclosure for this sale can be found here. Insiders have sold 72,047 shares of company stock valued at $3,393,475 over the last ninety days. Corporate insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Principal Securities Inc. purchased a new stake in shares of Tenable during the 4th quarter valued at approximately $35,000. Fidelis Capital Partners LLC purchased a new stake in shares of Tenable during the first quarter worth $58,000. SG Americas Securities LLC bought a new position in shares of Tenable in the fourth quarter worth $127,000. Verity & Verity LLC purchased a new position in shares of Tenable in the first quarter valued at $127,000. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Tenable by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,708 shares of the company’s stock valued at $183,000 after purchasing an additional 312 shares during the period. Institutional investors own 89.06% of the company’s stock.

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.