Tenable (NASDAQ:TENB) Updates Q4 2024 Earnings Guidance

Tenable (NASDAQ:TENB) issued an update on its fourth quarter 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 0.330-0.350 for the period, compared to the consensus earnings per share 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.

Tenable Stock Performance

Shares of TENB opened at $40.17 on Tuesday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.88. The firm’s fifty day simple moving average is $41.27 and its two-hundred day simple moving average is $41.53. Tenable has a 12 month low of $35.25 and a 12 month high of $53.50. The stock has a market capitalization of $4.83 billion, a P/E ratio of -78.76 and a beta of 0.85.

Wall Street Analysts Forecast Growth

TENB has been the topic of several recent analyst reports. Barclays dropped their price target on Tenable from $49.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Piper Sandler cut their target price on shares of Tenable from $55.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Robert W. Baird decreased their price target on shares of Tenable from $53.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Needham & Company LLC reissued a “buy” rating and set a $50.00 price objective on shares of Tenable in a research report on Monday. Finally, Jefferies Financial Group upped their price target on Tenable from $40.00 to $45.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. Six investment 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. According to data from MarketBeat, Tenable currently has a consensus rating of “Moderate Buy” and an average target price of $50.63.

Insider Buying and Selling

In other Tenable news, CEO Amit Yoran sold 4,828 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 value of $196,596.16. Following the transaction, the chief executive officer now owns 45,171 shares of the company’s stock, valued at approximately $1,839,363.12. The trade was a 9.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Mark C. Thurmond sold 2,343 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 value of $100,139.82. Following the completion of the transaction, the chief operating officer now owns 37,188 shares of the company’s stock, valued at $1,589,415.12. This trade represents a 5.93 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,654 shares of company stock worth $862,879. 4.30% of the stock is owned by insiders.

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.