Wells Fargo & Company Upgrades Tenable (NASDAQ:TENB) to “Hold”

Tenable (NASDAQ:TENB) was upgraded by stock analysts at Wells Fargo & Company to a “hold” rating in a report issued on Monday,Zacks.com reports.

TENB has been the subject of several other research reports. Morgan Stanley set a $30.00 target price on shares of Tenable in a report on Thursday, December 18th. Piper Sandler reduced their price objective on shares of Tenable from $40.00 to $35.00 and set an “overweight” rating on the stock in a research report on Monday, January 5th. TD Cowen decreased their price objective on shares of Tenable from $45.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, February 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 target price on shares of Tenable in a research note on Friday, January 30th. Finally, Zacks Research upgraded Tenable from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.50.

Tenable Price Performance

NASDAQ:TENB opened at $19.96 on Monday. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of -66.53 and a beta of 0.67. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.94 and a quick ratio of 0.94. The business has a 50 day simple moving average of $21.99 and a 200-day simple moving average of $26.22. Tenable has a 1 year low of $17.27 and a 1 year high of $38.83.

Tenable (NASDAQ:TENB) last released its quarterly earnings results on Wednesday, February 4th. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.06. The company had revenue of $260.53 million for the quarter, compared to analyst estimates of $251.79 million. Tenable had a positive return on equity of 0.20% and a negative net margin of 3.61%.Tenable’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.41 EPS. Tenable has set its FY 2026 guidance at 1.810-1.900 EPS and its Q1 2026 guidance at 0.390-0.420 EPS. Equities analysts forecast that Tenable will post 0.12 EPS for the current year.

Insider Activity at Tenable

In other news, Director Arthur W. Coviello, Jr. acquired 12,000 shares of Tenable stock in a transaction on Monday, February 9th. The shares were bought at an average cost of $21.50 per share, for a total transaction of $258,000.00. Following the acquisition, the director directly owned 51,731 shares of the company’s stock, valued at $1,112,216.50. This trade represents a 30.20% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director A Brooke Seawell sold 115,000 shares of Tenable stock in a transaction on Monday, December 15th. The shares were sold at an average price of $24.82, for a total value of $2,854,300.00. The disclosure for this sale is available in the SEC filing. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Tenable

Hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada raised its holdings in shares of Tenable by 11.5% in the first quarter. Royal Bank of Canada now owns 124,839 shares of the company’s stock valued at $4,367,000 after acquiring an additional 12,868 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Tenable by 5.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 326,924 shares of the company’s stock valued at $11,436,000 after purchasing an additional 17,349 shares during the period. Jane Street Group LLC increased its position in Tenable by 83.6% during the 1st quarter. Jane Street Group LLC now owns 112,594 shares of the company’s stock valued at $3,939,000 after purchasing an additional 51,266 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Tenable by 18.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 29,614 shares of the company’s stock valued at $1,000,000 after purchasing an additional 4,628 shares in the last quarter. Finally, Versor Investments LP purchased a new stake in shares of Tenable in the 2nd quarter worth approximately $230,000. Institutional investors own 89.06% of the company’s stock.

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.