Tenable’s (TENB) “Buy” Rating Reaffirmed at Needham & Company LLC

Tenable (NASDAQ:TENB)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a report released on Friday, Benzinga reports. They currently have a $50.00 target price on the stock. Needham & Company LLC’s price target points to a potential upside of 26.58% from the company’s previous close.

TENB has been the subject of several other reports. Robert W. Baird lowered their price objective on Tenable from $55.00 to $53.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. Susquehanna cut their price target on shares of Tenable from $60.00 to $48.00 and set a “positive” rating on the stock in a report on Thursday, August 1st. Baird R W upgraded shares of Tenable to a “strong-buy” rating in a report on Monday, July 15th. DA Davidson cut shares of Tenable from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $56.00 to $40.00 in a research report on Thursday, August 1st. Finally, Canaccord Genuity Group dropped their price target on Tenable from $57.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $52.81.

Tenable Stock Up 1.3 %

Tenable stock opened at $39.50 on Friday. Tenable has a one year low of $33.85 and a one year high of $53.50. The stock has a market cap of $4.70 billion, a PE ratio of -68.10 and a beta of 0.83. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a fifty day moving average of $42.02 and a 200 day moving average of $43.91.

Tenable (NASDAQ:TENB) last issued its quarterly earnings results on Wednesday, July 31st. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. Tenable had a negative return on equity of 7.63% and a negative net margin of 7.77%. As a group, sell-side analysts predict that Tenable will post -0.06 EPS for the current year.

Insider Buying and Selling

In related news, COO Mark C. Thurmond sold 3,383 shares of Tenable stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $41.66, for a total transaction of $140,935.78. Following the completion of the transaction, the chief operating officer now directly owns 34,079 shares in the company, valued at $1,419,731.14. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Tenable news, CEO Amit Yoran sold 5,673 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $41.75, for a total transaction of $236,847.75. Following the transaction, the chief executive officer now owns 39,309 shares in the company, valued at $1,641,150.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Mark C. Thurmond sold 3,383 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $41.66, for a total value of $140,935.78. Following the transaction, the chief operating officer now owns 34,079 shares in the company, valued at approximately $1,419,731.14. The disclosure for this sale can be found here. Insiders sold a total of 52,469 shares of company stock valued at $2,429,076 over the last 90 days. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TENB. Principal Securities Inc. acquired a new position in shares of Tenable in the 4th quarter valued at $35,000. Quest Partners LLC acquired a new position in shares of Tenable in the second quarter valued at approximately $40,000. Fidelis Capital Partners LLC purchased a new position in Tenable in the 1st quarter valued at approximately $58,000. Verity & Verity LLC purchased a new position in Tenable in the 1st quarter valued at approximately $127,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Tenable by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,708 shares of the company’s stock worth $183,000 after acquiring an additional 312 shares in the last quarter. Hedge funds and other 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.