Tenable (NASDAQ:TENB) Upgraded by Stephens to Strong-Buy Rating

Stephens upgraded shares of Tenable (NASDAQ:TENB) to a strong-buy rating in a research report report published on Monday morning,Zacks.com reports.

A number of other analysts also recently commented on TENB. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price objective on shares of Tenable in a report on Thursday, February 6th. Jefferies Financial Group reduced their price objective on Tenable from $45.00 to $37.00 and set a “hold” rating on the stock in a research report on Monday. Scotiabank boosted their price objective on Tenable from $44.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Tuesday, January 21st. Cantor Fitzgerald began coverage on Tenable in a research note on Monday. They issued an “overweight” rating and a $50.00 target price for the company. Finally, Stifel Nicolaus lowered Tenable from a “buy” rating to a “hold” rating and reduced their price target for the stock from $46.00 to $45.00 in a report on Friday, January 17th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $47.76.

Tenable Stock Up 0.5 %

Shares of TENB opened at $35.17 on Monday. The stock has a 50 day moving average price of $38.91 and a 200 day moving average price of $40.28. Tenable has a one year low of $33.84 and a one year 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 stock has a market capitalization of $4.23 billion, a price-to-earnings ratio of -117.23 and a beta of 0.87.

Tenable (NASDAQ:TENB) last released its earnings results on Wednesday, February 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.26). Tenable had a negative return on equity of 2.07% and a negative net margin of 4.03%. Equities research analysts forecast that Tenable will post 0.12 earnings per share for the current fiscal year.

Insider Transactions at Tenable

In other Tenable news, CEO Mark C. Thurmond sold 1,341 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $39.56, for a total value of $53,049.96. Following the sale, the chief executive officer now owns 41,266 shares of the company’s stock, valued at $1,632,482.96. The trade was a 3.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 value of $31,162.68. Following the transaction, the director now 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 have sold 14,937 shares of company stock worth $570,418. 4.30% of the stock is currently owned by insiders.

Institutional Trading of Tenable

Institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp grew its holdings in shares of Tenable by 2.6% in the third quarter. State Street Corp now owns 2,913,580 shares of the company’s stock valued at $118,058,000 after purchasing an additional 73,293 shares in the last quarter. Geode Capital Management LLC boosted its position in Tenable by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,794,485 shares of the company’s stock valued at $113,255,000 after buying an additional 33,303 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Tenable in the fourth quarter worth $15,653,000. Nordea Investment Management AB increased its position in shares of Tenable by 10.4% during the fourth quarter. Nordea Investment Management AB now owns 267,519 shares of the company’s stock worth $10,489,000 after acquiring an additional 25,247 shares during the period. Finally, Barclays PLC increased its position in shares of Tenable by 31.9% during the third quarter. Barclays PLC now owns 731,626 shares of the company’s stock worth $29,646,000 after acquiring an additional 177,048 shares during the period. 89.06% of the stock is currently owned by hedge funds and other institutional investors.

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.