Tenable (NASDAQ:TENB) Issues FY 2024 Earnings Guidance

Tenable (NASDAQ:TENB) updated its FY 2024 earnings guidance on Monday. The company provided EPS guidance of 1.210-1.230 for the period, compared to the consensus EPS estimate of 1.220. The company issued revenue guidance of $893.3 million-$897.3 million, compared to the consensus revenue estimate of $896.0 million. Tenable also updated its Q4 2024 guidance to 0.330-0.350 EPS.

Tenable Stock Performance

Shares of NASDAQ TENB opened at $39.08 on Monday. Tenable has a 1 year low of $35.25 and a 1 year high of $53.50. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.28 and a current ratio of 1.28. The company’s fifty day moving average price is $41.28 and its 200 day moving average price is $41.51. The company has a market capitalization of $4.69 billion, a PE ratio of -76.63 and a beta of 0.83.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on TENB shares. Westpark Capital reaffirmed a “hold” rating on shares of Tenable in a report on Thursday, October 31st. Morgan Stanley reaffirmed an “equal weight” rating and set a $47.00 target price (down from $50.00) on shares of Tenable in a research note on Monday, December 2nd. Jefferies Financial Group lifted their price target on shares of Tenable from $40.00 to $45.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. Piper Sandler lowered their price target on Tenable from $55.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Finally, Robert W. Baird decreased their price target on shares of Tenable from $53.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Tenable presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.63.

Insider Activity at Tenable

In other Tenable news, CEO Amit Yoran sold 4,828 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $40.72, for a total transaction of $196,596.16. Following the sale, the chief executive officer now directly owns 45,171 shares in the company, valued at $1,839,363.12. This represents a 9.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Mark C. Thurmond sold 2,209 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $40.72, for a total transaction of $89,950.48. Following the completion of the transaction, the chief operating officer now owns 35,480 shares of the company’s stock, valued at approximately $1,444,745.60. This trade represents a 5.86 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,654 shares of company stock worth $862,879. Company insiders own 4.30% of the company’s stock.

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.