Tenable (NASDAQ:TENB) Updates Q4 2024 Earnings Guidance

Tenable (NASDAQ:TENB) updated its fourth quarter 2024 earnings guidance on Monday. The company provided EPS guidance of 0.330-0.350 for the period, compared to the consensus EPS estimate of 0.340. The company issued revenue guidance of $229.0 million-$233.0 million, compared to the consensus revenue estimate of $231.8 million. Tenable also updated its FY 2024 guidance to 1.210-1.230 EPS.

Tenable Stock Down 3.0 %

TENB stock opened at $38.97 on Wednesday. The stock’s 50 day moving average is $41.22 and its 200-day moving average is $41.52. Tenable has a twelve month low of $35.25 and a twelve month high of $53.50. The firm has a market capitalization of $4.68 billion, a PE ratio of -76.41 and a beta of 0.85. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.88.

Wall Street Analyst Weigh In

A number of analysts have issued reports on TENB shares. Morgan Stanley reissued an “equal weight” rating and issued a $47.00 target price (down from $50.00) on shares of Tenable in a research report on Monday, December 2nd. Piper Sandler dropped their price objective on shares of Tenable from $55.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price target on shares of Tenable in a research report on Monday. Robert W. Baird cut their price target on shares of Tenable from $53.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Finally, Westpark Capital reiterated a “hold” rating on shares of Tenable in a research report on Thursday, October 31st. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $50.63.

Insider Transactions at Tenable

In related news, CFO Stephen A. Vintz sold 3,180 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $42.74, for a total value of $135,913.20. Following the sale, the chief financial officer now owns 285,045 shares in the company, valued at $12,182,823.30. This represents a 1.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Amit Yoran sold 4,828 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $40.72, for a total value of $196,596.16. Following the completion of the sale, the chief executive officer now directly owns 45,171 shares in the company, valued at approximately $1,839,363.12. This represents a 9.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,654 shares of company stock valued at $862,879. 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.