Tenable (NASDAQ:TENB) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Tenable (NASDAQ:TENB) in a research report released on Monday,Benzinga reports. The firm currently has a $50.00 target price on the stock.

Several other research firms have also commented on TENB. Westpark Capital reiterated a “hold” rating on shares of Tenable in a research note on Thursday, October 31st. Piper Sandler cut 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 Thursday, October 31st. 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 report on Monday, December 2nd. Robert W. Baird dropped their target price on Tenable from $53.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Finally, Jefferies Financial Group increased their price target on Tenable from $40.00 to $45.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $50.63.

Tenable Stock Performance

Shares of Tenable stock opened at $40.17 on Monday. The company has a market capitalization of $4.83 billion, a PE ratio of -78.76 and a beta of 0.85. The company has a 50-day simple moving average of $41.27 and a two-hundred day simple moving average of $41.53. Tenable has a one year low of $35.25 and a one 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.

Insiders Place Their Bets

In other Tenable news, COO Mark C. Thurmond sold 2,343 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $42.74, for a total transaction of $100,139.82. Following the sale, the chief operating officer now directly owns 37,188 shares of the company’s stock, valued at approximately $1,589,415.12. This trade represents a 5.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Amit Yoran sold 5,293 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $42.74, for a total value of $226,222.82. Following the completion of the transaction, the chief executive officer now directly owns 51,691 shares of the company’s stock, valued at approximately $2,209,273.34. This trade represents a 9.29 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,654 shares of company stock valued at $862,879. 4.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Tenable

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in shares of Tenable by 1.8% in the 2nd quarter. Principal Financial Group Inc. now owns 15,930 shares of the company’s stock valued at $694,000 after purchasing an additional 276 shares during the period. Covestor Ltd raised its position in shares of Tenable by 84.5% in the third quarter. Covestor Ltd now owns 631 shares of the company’s stock worth $26,000 after acquiring an additional 289 shares during the period. Xponance Inc. boosted its stake in shares of Tenable by 5.5% during the 2nd quarter. Xponance Inc. now owns 7,441 shares of the company’s stock worth $324,000 after acquiring an additional 389 shares in the last quarter. Fulton Bank N.A. grew its position in shares of Tenable by 5.7% during the 3rd quarter. Fulton Bank N.A. now owns 8,202 shares of the company’s stock valued at $332,000 after acquiring an additional 443 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Tenable by 0.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,281 shares of the company’s stock valued at $2,118,000 after purchasing an additional 457 shares in the last quarter. Institutional investors and hedge funds 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.