Morgan Stanley Cuts Tenable (NASDAQ:TENB) Price Target to $50.00

Tenable (NASDAQ:TENB) had its target price cut by Morgan Stanley from $55.00 to $50.00 in a research note released on Wednesday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts also recently weighed in on TENB. Susquehanna reduced their price target on Tenable from $60.00 to $48.00 and set a “positive” rating for the company in a research report on Thursday, August 1st. Wells Fargo & Company cut their price target on Tenable from $60.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, August 1st. Stifel Nicolaus cut their price target on Tenable from $54.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Barclays cut their price target on Tenable from $57.00 to $49.00 and set an “equal weight” rating for the company in a report on Thursday, August 1st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $50.00 price objective on shares of Tenable in a research report on Friday, September 13th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.38.

Tenable Stock Up 1.7 %

Shares of NASDAQ:TENB opened at $41.63 on Wednesday. Tenable has a 52 week low of $33.85 and a 52 week high of $53.50. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.21 and a current ratio of 1.21. The company’s fifty day moving average is $40.87 and its 200-day moving average is $42.47. The company has a market capitalization of $4.95 billion, a PE ratio of -71.78 and a beta of 0.83.

Tenable (NASDAQ:TENB) last issued its quarterly earnings results on Wednesday, July 31st. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.03. Tenable had a negative net margin of 7.77% and a negative return on equity of 7.63%. The business had revenue of $221.24 million for the quarter, compared to the consensus estimate of $218.41 million. Equities research analysts predict that Tenable will post -0.06 earnings per share for the current fiscal year.

Insider Transactions at Tenable

In related news, COO Mark C. Thurmond sold 3,383 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $41.66, for a total transaction of $140,935.78. Following the completion of the sale, the chief operating officer now owns 34,079 shares in the company, valued at approximately $1,419,731.14. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Mark C. Thurmond sold 3,383 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $41.66, for a total transaction of $140,935.78. Following the completion of the sale, the chief operating officer now owns 34,079 shares in the company, valued at approximately $1,419,731.14. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Stephen A. Vintz sold 3,413 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $41.75, for a total value of $142,492.75. Following the sale, the chief financial officer now owns 278,493 shares of the company’s stock, valued at $11,627,082.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,469 shares of company stock worth $2,429,076 over the last quarter. 4.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tenable

Institutional investors and hedge funds have recently modified their holdings of the business. Tidal Investments LLC increased its holdings in shares of Tenable by 157.8% in the 1st quarter. Tidal Investments LLC now owns 23,268 shares of the company’s stock valued at $1,150,000 after acquiring an additional 14,244 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Tenable by 21.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 352,468 shares of the company’s stock valued at $17,408,000 after buying an additional 61,080 shares during the period. ProShare Advisors LLC raised its holdings in Tenable by 10.1% in the 1st quarter. ProShare Advisors LLC now owns 21,283 shares of the company’s stock worth $1,052,000 after purchasing an additional 1,961 shares during the period. Blair William & Co. IL raised its holdings in Tenable by 9.5% in the 1st quarter. Blair William & Co. IL now owns 295,886 shares of the company’s stock worth $14,626,000 after purchasing an additional 25,760 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Tenable by 16.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 932,384 shares of the company’s stock worth $46,088,000 after purchasing an additional 131,117 shares during the period. 89.06% of the stock is owned by 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.