Tenable (NASDAQ:TENB) Coverage Initiated at Stephens

Investment analysts at Stephens began coverage on shares of Tenable (NASDAQ:TENB) in a research report issued to clients and investors on Tuesday. The brokerage set an “equal weight” rating and a $42.00 price target on the stock. Stephens’ target price indicates a potential upside of 20.83% from the company’s previous close.

TENB has been the topic of a number of other research reports. Truist Financial cut their price target on shares of Tenable from $48.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday. Needham & Company LLC restated a “buy” rating and set a $50.00 price target on shares of Tenable in a research note on Thursday, February 6th. Stifel Nicolaus downgraded Tenable from a “buy” rating to a “hold” rating and cut their price objective for the stock from $46.00 to $45.00 in a report on Friday, January 17th. Jefferies Financial Group decreased their target price on Tenable from $45.00 to $37.00 and set a “hold” rating for the company in a report on Monday. Finally, Morgan Stanley began coverage on shares of Tenable in a report on Tuesday, March 18th. They issued an “equal weight” rating and a $40.00 price target on the stock. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Tenable has a consensus rating of “Moderate Buy” and an average target price of $47.76.

Tenable Price Performance

TENB traded down $0.22 on Tuesday, hitting $34.76. 29,119 shares of the company were exchanged, compared to its average volume of 951,933. The business’s fifty day moving average is $39.03 and its 200 day moving average is $40.31. Tenable has a fifty-two week low of $33.84 and a fifty-two week high of $50.07. 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 firm has a market capitalization of $4.18 billion, a P/E ratio of -115.41 and a beta of 0.87.

Tenable (NASDAQ:TENB) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.26). Tenable had a negative net margin of 4.03% and a negative return on equity of 2.07%. As a group, sell-side analysts anticipate that Tenable will post 0.12 EPS for the current year.

Insider Activity

In related news, CEO Mark C. Thurmond sold 1,341 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $39.56, for a total value of $53,049.96. Following the sale, the chief executive officer now directly owns 41,266 shares of the company’s stock, valued at $1,632,482.96. This represents a 3.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Raymond Jr. Vicks sold 809 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $38.52, for a total transaction of $31,162.68. Following the transaction, the director now directly owns 8,659 shares of the company’s stock, valued at approximately $333,544.68. This represents a 8.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 14,937 shares of company stock worth $570,418. 4.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TENB. Arizona State Retirement System raised its stake in shares of Tenable by 1.0% during the fourth quarter. Arizona State Retirement System now owns 34,560 shares of the company’s stock valued at $1,361,000 after purchasing an additional 332 shares in the last quarter. Summit Investment Advisors Inc. increased its stake in Tenable by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 12,336 shares of the company’s stock valued at $486,000 after buying an additional 390 shares during the period. Oppenheimer & Co. Inc. raised its position in shares of Tenable by 3.0% during the 4th quarter. Oppenheimer & Co. Inc. now owns 15,650 shares of the company’s stock worth $616,000 after buying an additional 450 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted 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 worth $2,118,000 after acquiring an additional 457 shares during the period. Finally, Tidal Investments LLC boosted its holdings in shares of Tenable by 1.8% in the fourth quarter. Tidal Investments LLC now owns 32,082 shares of the company’s stock valued at $1,263,000 after acquiring an additional 564 shares in the last quarter. Institutional investors and hedge funds own 89.06% 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.