Tenable (NASDAQ:TENB) Releases Q4 2024 Earnings Guidance

Tenable (NASDAQ:TENB) updated its fourth quarter 2024 earnings guidance on Monday. The company provided EPS guidance of 0.330-0.350 for the period, compared to the consensus EPS estimate of 0.340. The company issued revenue guidance of $229.0 million-$233.0 million, compared to the consensus revenue estimate of $231.8 million. Tenable also updated its FY 2024 guidance to 1.210-1.230 EPS.

Analysts Set New Price Targets

Several research firms have recently commented on TENB. Barclays reduced their target price on shares of Tenable from $49.00 to $45.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Piper Sandler cut their target price on Tenable from $55.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective on shares of Tenable in a report on Tuesday, October 29th. Robert W. Baird reduced their target price on Tenable from $53.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Finally, Jefferies Financial Group upped their price target on shares of Tenable from $40.00 to $45.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. Six analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $50.63.

Tenable Stock Performance

NASDAQ TENB opened at $39.08 on Monday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.28 and a quick ratio of 1.28. Tenable has a 1-year low of $35.25 and a 1-year high of $53.50. The firm has a market capitalization of $4.69 billion, a P/E ratio of -76.63 and a beta of 0.83. The business’s 50-day simple moving average is $41.28 and its 200-day simple moving average is $41.51.

Insiders Place Their Bets

In related news, COO Mark C. Thurmond sold 2,209 shares of Tenable stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $40.72, for a total value of $89,950.48. Following the completion of the sale, the chief operating officer now owns 35,480 shares in the company, valued at approximately $1,444,745.60. The trade was a 5.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Amit Yoran sold 5,293 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $42.74, for a total transaction of $226,222.82. Following the completion of the sale, the chief executive officer now directly owns 51,691 shares in the company, valued at $2,209,273.34. This represents a 9.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,654 shares of company stock worth $862,879 over the last ninety days. 4.30% of the stock is owned by company insiders.

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.