Tenable’s (TENB) Buy Rating Reiterated at Needham & Company LLC

Tenable (NASDAQ:TENB)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a report released on Thursday,Benzinga reports. They presently have a $50.00 target price on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 24.29% from the stock’s current price.

TENB has been the topic of several other research reports. Morgan Stanley reiterated an “equal weight” rating and set a $47.00 price objective (down previously from $50.00) on shares of Tenable in a research note on Monday, December 2nd. Westpark Capital reissued a “hold” rating on shares of Tenable in a report on Thursday, October 31st. Scotiabank boosted their price objective on Tenable from $44.00 to $45.00 and gave the company a “sector perform” rating in a research report on Tuesday, January 21st. Stifel Nicolaus lowered Tenable from a “buy” rating to a “hold” rating and dropped their target price for the stock from $46.00 to $45.00 in a research report on Friday, January 17th. Finally, Jefferies Financial Group boosted their price target on shares of Tenable from $40.00 to $45.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $49.67.

Tenable Stock Up 1.0 %

TENB stock opened at $40.23 on Thursday. The firm has a 50 day simple moving average of $41.41 and a 200-day simple moving average of $41.33. The company has a market capitalization of $4.83 billion, a P/E ratio of -78.88 and a beta of 0.87. Tenable has a twelve month low of $35.25 and a twelve month high of $52.50. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.88.

Tenable (NASDAQ:TENB) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.26). Tenable had a negative net margin of 6.82% and a negative return on equity of 6.21%. On average, equities research analysts predict that Tenable will post -0.02 earnings per share for the current fiscal year.

Insider Transactions at Tenable

In related news, CEO Amit Yoran sold 4,828 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $40.72, for a total transaction of $196,596.16. Following the sale, the chief executive officer now owns 45,171 shares of the company’s stock, valued at $1,839,363.12. The trade was a 9.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stephen A. Vintz sold 3,180 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $42.74, for a total value of $135,913.20. Following the transaction, the chief financial officer now directly owns 285,045 shares of the company’s stock, valued at approximately $12,182,823.30. The trade was a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 21,463 shares of company stock valued at $894,042. Company insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Tenable

Hedge funds and other institutional investors have recently bought and sold shares of the business. Covestor Ltd boosted its position in shares of Tenable by 84.5% during the 3rd quarter. Covestor Ltd now owns 631 shares of the company’s stock valued at $26,000 after purchasing an additional 289 shares in the last quarter. Larson Financial Group LLC grew its position in Tenable by 658.6% in the third quarter. Larson Financial Group LLC now owns 751 shares of the company’s stock worth $30,000 after buying an additional 652 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Tenable in the fourth quarter valued at $38,000. Nisa Investment Advisors LLC lifted its position in shares of Tenable by 74.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,753 shares of the company’s stock valued at $108,000 after acquiring an additional 1,172 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its stake in shares of Tenable by 30.3% during the 4th quarter. Pacer Advisors Inc. now owns 2,823 shares of the company’s stock worth $111,000 after acquiring an additional 657 shares in the last quarter. 89.06% of the stock is currently owned by institutional investors.

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.