Wells Fargo & Company Cuts Tenable (NASDAQ:TENB) Price Target to $35.00

Tenable (NASDAQ:TENB) had its target price lowered by Wells Fargo & Company from $43.00 to $35.00 in a research note published on Thursday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other equities research analysts have also weighed in on the stock. Robert W. Baird set a $34.00 price objective on shares of Tenable in a report on Thursday, April 30th. Cantor Fitzgerald raised their target price on Tenable from $30.00 to $45.00 and gave the stock an “overweight” rating in a research note on Friday, July 24th. Canaccord Genuity Group lifted their price target on Tenable from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, May 22nd. Morgan Stanley set a $27.00 price target on Tenable in a research note on Thursday, April 30th. Finally, Needham & Company LLC boosted their price target on Tenable from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday. Eight equities research analysts have rated the stock with a Buy rating, eleven have issued 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 $34.68.

Tenable Stock Up 0.3%

NASDAQ:TENB opened at $32.64 on Thursday. The company has a market cap of $3.60 billion, a PE ratio of 652.93 and a beta of 0.93. Tenable has a twelve month low of $15.73 and a twelve month high of $43.67. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.42. The company’s 50 day moving average is $32.10 and its two-hundred day moving average is $24.61.

Tenable (NASDAQ:TENB) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.04. The business had revenue of $268.51 million for the quarter, compared to analyst estimates of $264.87 million. Tenable had a net margin of 0.65% and a return on equity of 13.58%. Tenable’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.34 EPS. Tenable has set its FY 2026 guidance at 1.950-2.000 EPS and its Q3 2026 guidance at 0.490-0.520 EPS. Analysts anticipate that Tenable will post 0.5 EPS for the current year.

Institutional Trading of Tenable

A number of hedge funds and other institutional investors have recently made changes to their positions in TENB. Arrowstreet Capital Limited Partnership raised its stake in shares of Tenable by 175.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,732,271 shares of the company’s stock valued at $63,131,000 after buying an additional 2,375,587 shares during the last quarter. UBS Group AG lifted its holdings in shares of Tenable by 327.6% in the 4th quarter. UBS Group AG now owns 3,092,577 shares of the company’s stock valued at $72,768,000 after buying an additional 2,369,402 shares during the period. Norges Bank purchased a new stake in shares of Tenable in the fourth quarter worth about $44,542,000. SEB Asset Management AB purchased a new stake in shares of Tenable in the first quarter worth about $18,935,000. Finally, First Trust Advisors LP boosted its stake in shares of Tenable by 31.8% in the fourth quarter. First Trust Advisors LP now owns 4,243,625 shares of the company’s stock worth $99,852,000 after buying an additional 1,023,671 shares during the last quarter. Institutional investors and hedge funds own 89.06% of the company’s stock.

Key Tenable News

Here are the key news stories impacting Tenable this week:

• Positive Sentiment: Tenable exceeded Q2 expectations, reporting adjusted EPS of $0.51 versus the $0.47 consensus and revenue of $268.51 million versus estimates of $264.87 million. Revenue increased 8.6% year over year. Tenable Tops Q2 Earnings and Revenue Estimates
• Positive Sentiment: Management issued stronger-than-expected EPS guidance, forecasting Q3 EPS of $0.49–$0.52 versus the $0.42 consensus and full-year EPS of $1.95–$2.00 versus the $1.66 consensus. The outlook reflects momentum in Tenable One, artificial intelligence offerings and customer expansion. TENB Q2 Earnings Beat and Outlook Raised
• Positive Sentiment: Needham raised its price target to $36 from $30 and Canaccord Genuity increased its target to $36 from $30; both firms maintained or initiated a “buy” view. Needham Raises Tenable Price Target
• Neutral Sentiment: Wells Fargo lowered its target to $35 from $43 while retaining an “equal weight” rating, and Barclays and Truist reaffirmed “hold” ratings. Truist separately reduced its target to $30 from $40, signaling limited near-term conviction.
• Negative Sentiment: Piper Sandler cut its rating on Tenable, adding to investor concerns that the improved outlook may already be reflected in the stock’s valuation. Piper Sandler Cuts Tenable Rating

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.