Tenable (NASDAQ:TENB) Reaches New 52-Week Low – Here’s Why

Tenable Holdings, Inc. (NASDAQ:TENB) hit a new 52-week low during trading on Monday . The company traded as low as $25.13 and last traded at $24.92, with a volume of 418946 shares trading hands. The stock had previously closed at $26.28.

Analysts Set New Price Targets

Several brokerages recently commented on TENB. Canaccord Genuity Group reduced their target price on Tenable from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Weiss Ratings reissued a “sell (e+)” rating on shares of Tenable in a research note on Wednesday, October 8th. Scotiabank dropped their price target on shares of Tenable from $37.00 to $31.00 and set a “sector perform” rating for the company in a research report on Thursday, October 30th. Needham & Company LLC decreased their price target on Tenable from $42.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. Finally, Barclays cut their price target on shares of Tenable from $39.00 to $33.00 and set an “equal weight” rating for the company in a report on Tuesday, October 14th. Nine equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $38.06.

Tenable Stock Performance

The stock’s 50 day simple moving average is $27.71 and its two-hundred day simple moving average is $30.16. The company has a market capitalization of $2.96 billion, a P/E ratio of -91.98 and a beta of 0.73. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.94 and a quick ratio of 0.94.

Tenable (NASDAQ:TENB) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.05. The company had revenue of $252.44 million during the quarter, compared to analyst estimates of $247.43 million. During the same period in the prior year, the business earned $0.32 EPS. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. Tenable has set its FY 2025 guidance at 1.510-1.540 EPS and its Q4 2025 guidance at 0.390-0.430 EPS. As a group, research analysts expect that Tenable Holdings, Inc. will post 0.12 earnings per share for the current year.

Insider Transactions at Tenable

In related news, insider Barron Anschutz sold 976 shares of Tenable stock in a transaction dated Friday, October 17th. The stock was sold at an average price of $29.10, for a total value of $28,401.60. Following the completion of the sale, the insider directly owned 61,420 shares in the company, valued at $1,787,322. This trade represents a 1.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Quarry LP bought a new stake in shares of Tenable during the third quarter worth approximately $25,000. Elevation Point Wealth Partners LLC acquired a new stake in Tenable during the 2nd quarter worth $37,000. Exchange Traded Concepts LLC bought a new stake in shares of Tenable during the 3rd quarter valued at $45,000. Horizon Investments LLC bought a new position in shares of Tenable in the 3rd quarter worth $45,000. Finally, Abich Financial Wealth Management LLC acquired a new stake in shares of Tenable during the third quarter worth $52,000. 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.