Tenable (NASDAQ:TENB) PT Lowered to $50.00

Tenable (NASDAQ:TENB) had its target price decreased by equities research analysts at Robert W. Baird from $53.00 to $50.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price target indicates a potential upside of 20.11% from the stock’s current price.

A number of other equities analysts have also weighed in on TENB. Susquehanna decreased their target price on Tenable from $60.00 to $48.00 and set a “positive” rating on the stock in a research note on Thursday, August 1st. DA Davidson cut shares of Tenable from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $56.00 to $40.00 in a research report on Thursday, August 1st. Needham & Company LLC reiterated a “buy” rating and set a $50.00 target price on shares of Tenable in a research report on Friday, September 13th. Morgan Stanley decreased their price target on shares of Tenable from $55.00 to $50.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Wells Fargo & Company dropped their price objective on shares of Tenable from $60.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.38.

Tenable Trading Up 1.7 %

Shares of Tenable stock opened at $41.63 on Friday. The company’s 50-day moving average price is $40.87 and its 200-day moving average price is $42.43. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.98. Tenable has a 12-month low of $33.85 and a 12-month high of $53.50. The company has a market cap of $4.95 billion, a price-to-earnings ratio of -71.78 and a beta of 0.83.

Tenable (NASDAQ:TENB) last posted its earnings results on Wednesday, July 31st. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.03. The business had revenue of $221.24 million for the quarter, compared to analysts’ expectations of $218.41 million. Tenable had a negative net margin of 7.77% and a negative return on equity of 7.63%. On average, equities analysts expect that Tenable will post -0.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Amit Yoran sold 5,673 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $41.75, for a total transaction of $236,847.75. Following the completion of the sale, the chief executive officer now owns 39,309 shares of the company’s stock, valued at approximately $1,641,150.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, COO Mark C. Thurmond sold 3,383 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $41.66, for a total transaction of $140,935.78. Following the transaction, the chief operating officer now owns 34,079 shares in the company, valued at $1,419,731.14. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Amit Yoran sold 5,673 shares of Tenable stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $41.75, for a total value of $236,847.75. Following the completion of the sale, the chief executive officer now owns 39,309 shares in the company, valued at approximately $1,641,150.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,469 shares of company stock worth $2,429,076 in the last ninety days. 4.30% of the stock is owned by insiders.

Institutional Trading of Tenable

Large investors have recently added to or reduced their stakes in the stock. Griffin Asset Management Inc. bought a new stake in shares of Tenable during the 1st quarter valued at about $322,000. Diversified Trust Co lifted its holdings in Tenable by 85.0% in the first quarter. Diversified Trust Co now owns 12,766 shares of the company’s stock worth $631,000 after buying an additional 5,865 shares during the period. Claro Advisors LLC bought a new stake in Tenable during the 1st quarter valued at approximately $331,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Tenable by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,708 shares of the company’s stock worth $183,000 after acquiring an additional 312 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of Tenable by 18.6% in the 1st quarter. Principal Financial Group Inc. now owns 15,654 shares of the company’s stock worth $774,000 after acquiring an additional 2,459 shares in the last quarter. Institutional investors own 89.06% of the company’s stock.

About Tenable

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.