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

Needham & Company LLC reissued their buy rating on shares of Tenable (NASDAQ:TENB) in a research note released on Tuesday, Benzinga reports. Needham & Company LLC currently has a $50.00 price target on the stock.

TENB has been the topic of a number of other reports. Robert W. Baird lowered their target price on Tenable from $53.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Baird R W raised shares of Tenable to a “strong-buy” rating in a research report on Monday, July 15th. Morgan Stanley reduced 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. Susquehanna decreased their price target on shares of Tenable from $60.00 to $48.00 and set a “positive” rating for the company in a research note on Thursday, August 1st. Finally, Wells Fargo & Company dropped their price objective on Tenable from $60.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $50.81.

Tenable Stock Down 3.9 %

Shares of TENB stock opened at $39.61 on Tuesday. Tenable has a 52-week low of $33.85 and a 52-week high of $53.50. The company has a 50-day simple moving average of $40.80 and a two-hundred day simple moving average of $42.26. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.98.

Tenable (NASDAQ:TENB) last issued its quarterly earnings results on Wednesday, July 31st. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. The company had revenue of $221.24 million during the quarter, compared to the consensus estimate of $218.41 million. Tenable had a negative return on equity of 6.42% and a negative net margin of 6.82%. As a group, sell-side analysts forecast that Tenable will post -0.06 earnings per share for the current fiscal year.

Insider Transactions at Tenable

In related news, CEO Amit Yoran sold 5,673 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $41.75, for a total transaction of $236,847.75. Following the sale, the chief executive officer now owns 39,309 shares of the company’s stock, valued at approximately $1,641,150.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Tenable news, CEO Amit Yoran sold 5,673 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $41.75, for a total value of $236,847.75. Following the transaction, the chief executive officer now directly owns 39,309 shares in the company, valued at $1,641,150.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Stephen A. Vintz sold 3,413 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $41.75, for a total value of $142,492.75. Following the completion of the sale, the chief financial officer now directly owns 278,493 shares in the company, valued at approximately $11,627,082.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,469 shares of company stock valued at $520,276. 4.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tenable

A number of institutional investors have recently made changes to their positions in the stock. Quest Partners LLC bought a new stake in shares of Tenable during the 2nd quarter worth $40,000. Fidelis Capital Partners LLC bought a new position in shares of Tenable during the 1st quarter valued at about $58,000. Allspring Global Investments Holdings LLC raised its holdings 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 buying an additional 312 shares in the last quarter. Truvestments Capital LLC bought a new stake in Tenable in the 1st quarter worth approximately $189,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Tenable in the second quarter worth approximately $200,000. Institutional investors own 89.06% of the company’s stock.

Tenable Company Profile

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.