Tenable (NASDAQ:TENB) Releases FY24 Earnings Guidance

Tenable (NASDAQ:TENB) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $1.16-1.19 for the period, compared to the consensus estimate of $1.10. The company issued revenue guidance of $889-895 million, compared to the consensus revenue estimate of $904.48 million. Tenable also updated its Q3 guidance to $0.28-0.30 EPS.

Tenable Trading Down 2.6 %

Shares of NASDAQ TENB traded down $1.23 during midday trading on Wednesday, reaching $45.92. 1,952,639 shares of the stock were exchanged, compared to its average volume of 944,387. The stock has a 50 day moving average price of $42.40 and a 200-day moving average price of $45.51. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.00. Tenable has a 52-week low of $33.85 and a 52-week high of $53.50. The company has a market capitalization of $5.46 billion, a P/E ratio of -81.29 and a beta of 0.86.

Tenable (NASDAQ:TENB) last announced its earnings results on Wednesday, May 1st. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.03. Tenable had a negative return on equity of 10.40% and a negative net margin of 8.18%. The company had revenue of $215.96 million during the quarter, compared to the consensus estimate of $213.56 million. Equities research analysts expect that Tenable will post -0.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TENB has been the subject of several analyst reports. Robert W. Baird began coverage on Tenable in a research report on Monday, July 15th. They set an outperform rating and a $55.00 price objective for the company. Wedbush restated an outperform rating and issued a $65.00 target price on shares of Tenable in a research note on Thursday, May 2nd. Needham & Company LLC reiterated a buy rating and set a $62.00 price target on shares of Tenable in a report on Friday, June 14th. Scotiabank began coverage on shares of Tenable in a report on Friday, April 26th. They set a sector perform rating and a $47.00 price objective on the stock. Finally, Westpark Capital restated a buy rating and set a $54.00 target price on shares of Tenable in a research report on Monday. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $56.67.

Insider Transactions at Tenable

In other news, COO Mark C. Thurmond sold 949 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $43.97, for a total transaction of $41,727.53. Following the completion of the sale, the chief operating officer now owns 32,906 shares in the company, valued at approximately $1,446,876.82. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, COO Mark C. Thurmond sold 2,219 shares of Tenable stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $43.76, for a total value of $97,103.44. Following the sale, the chief operating officer now directly owns 30,335 shares in the company, valued at approximately $1,327,459.60. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Mark C. Thurmond sold 949 shares of Tenable stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $43.97, for a total value of $41,727.53. Following the sale, the chief operating officer now directly owns 32,906 shares in the company, valued at $1,446,876.82. The disclosure for this sale can be found here. Insiders sold a total of 24,132 shares of company stock valued at $1,049,183 over the last ninety days. 4.30% of the stock is currently owned by insiders.

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.