Tenable (NASDAQ:TENB) Issues FY 2024 Earnings Guidance

Tenable (NASDAQ:TENB) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 1.210-1.230 for the period, compared to the consensus earnings per share estimate of 1.180. The company issued revenue guidance of $893.3 million-$897.3 million, compared to the consensus revenue estimate of $892.6 million. Tenable also updated its FY24 guidance to $1.21-$1.23 EPS.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Robert W. Baird decreased their price target on shares of Tenable from $53.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Morgan Stanley dropped their target price on shares of Tenable from $55.00 to $50.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Canaccord Genuity Group reduced their price target on shares of Tenable from $57.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price objective on shares of Tenable in a report on Tuesday. Finally, Jefferies Financial Group started coverage on Tenable in a research note on Wednesday, October 16th. They set a “hold” rating and a $45.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Tenable currently has an average rating of “Moderate Buy” and a consensus price target of $51.06.

Tenable Stock Performance

Shares of TENB traded down $0.69 during midday trading on Thursday, hitting $40.54. 982,074 shares of the stock traded hands, compared to its average volume of 904,981. The business’s 50 day moving average price is $40.80 and its two-hundred day moving average price is $42.26. The firm has a market capitalization of $4.83 billion, a PE ratio of -73.00 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. Tenable has a 1-year low of $33.85 and a 1-year high of $53.50.

Tenable (NASDAQ:TENB) last posted its earnings results on Wednesday, July 31st. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. Tenable had a negative net margin of 7.77% and a negative return on equity of 7.63%. The firm had revenue of $221.24 million during the quarter, compared to analyst estimates of $218.41 million. Equities research analysts predict that Tenable will post -0.06 EPS for the current fiscal year.

Insider Transactions at Tenable

In other Tenable news, CEO Amit Yoran sold 5,673 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 39,309 shares in the company, valued at approximately $1,641,150.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, COO Mark C. Thurmond sold 3,383 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $41.66, for a total transaction of $140,935.78. Following the transaction, the chief operating officer now owns 34,079 shares in the company, valued at $1,419,731.14. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Amit Yoran sold 5,673 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $41.75, for a total value of $236,847.75. Following the sale, the chief executive officer now directly owns 39,309 shares in the company, valued at approximately $1,641,150.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,469 shares of company stock worth $520,276. Company insiders own 4.30% 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.