Tenable (NASDAQ:TENB) Sets New 52-Week Low – What’s Next?

Tenable Holdings, Inc. (NASDAQ:TENB) reached a new 52-week low during trading on Tuesday . The company traded as low as $28.28 and last traded at $28.7990, with a volume of 34149 shares trading hands. The stock had previously closed at $29.02.

Analyst Ratings Changes

Several brokerages recently issued reports on TENB. Canaccord Genuity Group reduced their price objective on shares of Tenable from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. Wells Fargo & Company reiterated an “overweight” rating and set a $45.00 price objective (up from $40.00) on shares of Tenable in a research note on Thursday, July 31st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tenable in a report on Wednesday, October 8th. Barclays lowered their target price on shares of Tenable from $39.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 14th. Finally, Wall Street Zen downgraded shares of Tenable from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 25th. Nine research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Tenable has an average rating of “Hold” and an average price target of $38.63.

Tenable Trading Down 3.0%

The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.01. The business’s 50-day simple moving average is $29.89 and its two-hundred day simple moving average is $31.36. The company has a market capitalization of $3.41 billion, a PE ratio of -104.17 and a beta of 0.71.

Tenable (NASDAQ:TENB) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.37 by $0.05. The firm had revenue of $252.44 million during the quarter, compared to analyst estimates of $247.43 million. Tenable’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.32 EPS. Tenable has set its FY 2025 guidance at 1.510-1.540 EPS. Q4 2025 guidance at 0.390-0.430 EPS. On average, analysts predict that Tenable Holdings, Inc. will post 0.12 earnings per share for the current year.

Insider Buying and Selling at Tenable

In other news, Director A Brooke Seawell sold 4,622 shares of the stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $30.12, for a total transaction of $139,214.64. Following the completion of the sale, the director owned 15,000 shares of the company’s stock, valued at $451,800. This represents a 23.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Barron Anschutz sold 1,261 shares of the firm’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $30.25, for a total transaction of $38,145.25. Following the completion of the transaction, the insider directly owned 59,645 shares of the company’s stock, valued at approximately $1,804,261.25. This trade represents a 2.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 64,555 shares of company stock valued at $1,951,065. 1.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Tenable

Several institutional investors and hedge funds have recently made changes to their positions in the company. Ameriprise Financial Inc. raised its stake in shares of Tenable by 9.3% during the second quarter. Ameriprise Financial Inc. now owns 6,466,182 shares of the company’s stock worth $218,428,000 after acquiring an additional 547,496 shares in the last quarter. RGM Capital LLC boosted its holdings in Tenable by 2.0% in the first quarter. RGM Capital LLC now owns 3,772,624 shares of the company’s stock valued at $131,966,000 after acquiring an additional 72,607 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Tenable by 1,043.7% in the second quarter. Assenagon Asset Management S.A. now owns 3,239,624 shares of the company’s stock valued at $109,434,000 after acquiring an additional 2,956,367 shares in the last quarter. State Street Corp boosted its holdings in Tenable by 1.4% in the second quarter. State Street Corp now owns 3,056,055 shares of the company’s stock valued at $103,234,000 after acquiring an additional 43,098 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in Tenable by 10.4% in the second quarter. First Trust Advisors LP now owns 2,937,689 shares of the company’s stock valued at $99,235,000 after acquiring an additional 276,211 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.