Needham & Company LLC Cuts Tenable (NASDAQ:TENB) Price Target to $28.00

Tenable (NASDAQ:TENB) had its price target reduced by Needham & Company LLC from $38.00 to $28.00 in a research report sent to investors on Thursday, MarketBeat reports. Needham & Company LLC currently has a buy rating on the stock.

Several other equities research analysts have also recently weighed in on TENB. Canaccord Genuity Group dropped their price target on shares of Tenable from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $42.00 target price on shares of Tenable in a report on Thursday, October 23rd. Jefferies Financial Group set a $29.00 target price on Tenable in a research note on Tuesday, December 16th. Barclays lowered their price target on Tenable from $33.00 to $28.00 and set an “equal weight” rating for the company in a research report on Monday, January 5th. Finally, Morgan Stanley set a $30.00 price objective on Tenable in a research report on Thursday, December 18th. Ten equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $36.88.

Tenable Stock Performance

NASDAQ TENB opened at $23.27 on Thursday. The company has a 50-day simple moving average of $25.67 and a two-hundred day simple moving average of $29.09. Tenable has a 12-month low of $22.51 and a 12-month high of $45.44. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of -86.19 and a beta of 0.64. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.03.

Tenable (NASDAQ:TENB) last released its 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 the consensus estimate of $247.43 million. The company’s revenue was up 11.2% on a year-over-year basis. During the same period last year, the firm posted $0.32 EPS. Tenable has set its FY 2025 guidance at 1.510-1.540 EPS and its Q4 2025 guidance at 0.390-0.430 EPS. On average, equities analysts forecast that Tenable will post 0.12 EPS for the current year.

Insider Transactions at Tenable

In other Tenable news, insider Barron Anschutz sold 976 shares of the firm’s stock in a transaction that occurred on Friday, October 17th. The shares were sold at an average price of $29.10, for a total transaction of $28,401.60. Following the completion of the transaction, the insider owned 61,420 shares of the company’s stock, valued at approximately $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 is accessible through this link. Also, Director A Brooke Seawell sold 115,000 shares of Tenable stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $24.82, for a total transaction of $2,854,300.00. Additional details regarding this sale are available in the official SEC disclosure. 1.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tenable

Several hedge funds have recently added to or reduced their stakes in TENB. Quarry LP purchased a new position in shares of Tenable during the third quarter valued at approximately $25,000. Elevation Point Wealth Partners LLC bought a new stake in Tenable in the 2nd quarter worth approximately $37,000. Exchange Traded Concepts LLC bought a new stake in Tenable in the 3rd quarter worth approximately $45,000. Horizon Investments LLC bought a new position in shares of Tenable during the 3rd quarter valued at $45,000. Finally, Abich Financial Wealth Management LLC bought a new stake in shares of Tenable in the third quarter worth $52,000. 89.06% of the stock is owned by institutional investors.

Tenable Company Profile

Tenable Holdings, Inc is a global cybersecurity company specializing in vulnerability management and continuous threat exposure assessment. Headquartered in Columbia, Maryland, Tenable was founded in 2002 by Ron Gula and Jack Huffard to address the growing need for proactive network security solutions. Over the years, the company has evolved from a pioneer in open-source vulnerability scanning to a leading provider of comprehensive security platforms that help organizations identify, investigate and prioritize cyber risks across on-premises, cloud and operational technology environments.

At the core of Tenable’s product suite is Nessus, one of the industry’s most widely adopted vulnerability scanners.