DA Davidson Brokers Raise Earnings Estimates for Tenable Holdings, Inc. (NASDAQ:TENB)

Tenable Holdings, Inc. (NASDAQ:TENB) – Analysts at DA Davidson lifted their FY2024 earnings per share (EPS) estimates for Tenable in a research report issued to clients and investors on Thursday, August 1st. DA Davidson analyst R. Kessinger now forecasts that the company will post earnings of ($0.07) per share for the year, up from their previous forecast of ($0.14). DA Davidson has a “Neutral” rating and a $40.00 price objective on the stock. The consensus estimate for Tenable’s current full-year earnings is ($0.07) per share. DA Davidson also issued estimates for Tenable’s FY2025 earnings at $0.16 EPS.

Other equities analysts have also issued research reports about the company. Wells Fargo & Company cut their target price on Tenable from $60.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Susquehanna dropped their price target on Tenable from $60.00 to $48.00 and set a “positive” rating on the stock in a research note on Thursday, August 1st. Stifel Nicolaus dropped their price target on Tenable from $54.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Canaccord Genuity Group dropped their price target on Tenable from $57.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Finally, Westpark Capital lowered Tenable from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $53.00.

Tenable Price Performance

TENB opened at $39.97 on Monday. The business’s 50-day moving average is $42.26 and its two-hundred day moving average is $45.34. Tenable has a 1 year low of $33.85 and a 1 year high of $53.50. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.23 and a quick ratio of 1.23. The firm has a market capitalization of $4.75 billion, a PE ratio of -68.91 and a beta of 0.86.

Institutional Trading of Tenable

Several large investors have recently added to or reduced their stakes in TENB. Norges Bank purchased a new stake in Tenable in the 4th quarter valued at $56,568,000. Readystate Asset Management LP purchased a new position in shares of Tenable during the 4th quarter worth $32,199,000. First Trust Advisors LP grew its holdings in shares of Tenable by 18.0% during the 4th quarter. First Trust Advisors LP now owns 4,452,555 shares of the company’s stock worth $205,085,000 after purchasing an additional 680,477 shares during the period. Champlain Investment Partners LLC grew its holdings in shares of Tenable by 59.5% during the 1st quarter. Champlain Investment Partners LLC now owns 1,591,147 shares of the company’s stock worth $78,650,000 after purchasing an additional 593,529 shares during the period. Finally, William Blair Investment Management LLC grew its holdings in shares of Tenable by 20.2% during the 1st quarter. William Blair Investment Management LLC now owns 3,491,301 shares of the company’s stock worth $172,575,000 after purchasing an additional 585,559 shares during the period. 89.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Amit Yoran sold 4,851 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $43.76, for a total transaction of $212,279.76. Following the completion of the sale, the chief executive officer now directly owns 361,457 shares in the company, valued at $15,817,358.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tenable news, COO Mark C. Thurmond sold 2,219 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $43.76, for a total value of $97,103.44. Following the completion of the sale, the chief operating officer now directly owns 30,335 shares in the company, valued at approximately $1,327,459.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Amit Yoran sold 4,851 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $43.76, for a total value of $212,279.76. Following the completion of the sale, the chief executive officer now owns 361,457 shares of the company’s stock, valued at $15,817,358.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 64,132 shares of company stock worth $2,957,983. 4.30% of the stock is owned by corporate 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.