Needham & Company LLC Reiterates Buy Rating for Tenable (NASDAQ:TENB)

Needham & Company LLC reiterated their buy rating on shares of Tenable (NASDAQ:TENB) in a report published on Tuesday morning, Benzinga reports. They currently have a $50.00 target price on the stock.

A number of other equities research analysts also recently issued reports on TENB. Westpark Capital downgraded Tenable from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. Robert W. Baird dropped their price target on shares of Tenable from $53.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Jefferies Financial Group initiated coverage on Tenable in a report on Wednesday, October 16th. They issued a “hold” rating and a $45.00 price target on the stock. Canaccord Genuity Group lowered their target price 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, Susquehanna lowered their target price on shares of Tenable from $60.00 to $48.00 and set a “positive” rating on the stock in a report on Thursday, August 1st. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Tenable currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.81.

Tenable Price Performance

Tenable stock opened at $38.78 on Tuesday. 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 50-day moving average is $40.76 and its two-hundred day moving average is $42.24. Tenable has a 1 year low of $33.85 and a 1 year high of $53.50.

Tenable (NASDAQ:TENB) last released its quarterly earnings results on Wednesday, July 31st. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The company had revenue of $221.24 million for the quarter, compared to analyst estimates of $218.41 million. Tenable had a negative return on equity of 6.42% and a negative net margin of 6.82%. As a group, research analysts expect that Tenable will post -0.06 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Amit Yoran sold 5,673 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $41.75, for a total transaction of $236,847.75. Following the sale, the chief executive officer now owns 39,309 shares of the company’s stock, valued at approximately $1,641,150.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Amit Yoran sold 5,673 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $41.75, for a total transaction of $236,847.75. Following the sale, the chief executive officer now owns 39,309 shares of the company’s stock, valued at $1,641,150.75. This trade 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 is available at the SEC website. Also, COO Mark C. Thurmond sold 3,383 shares of Tenable stock in a transaction on Monday, August 26th. The shares were sold at an average price of $41.66, for a total transaction of $140,935.78. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,469 shares of company stock valued at $520,276. Insiders own 4.30% of the company’s stock.

Institutional Trading of Tenable

A number of institutional investors and hedge funds have recently made changes to their positions in TENB. Vanguard Group Inc. raised its stake in shares of Tenable by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 12,543,352 shares of the company’s stock worth $620,018,000 after buying an additional 32,535 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of Tenable by 12.7% during the second quarter. Mackenzie Financial Corp now owns 4,191,935 shares of the company’s stock valued at $182,685,000 after acquiring an additional 471,126 shares during the period. RGM Capital LLC boosted its stake in Tenable by 4.5% in the 2nd quarter. RGM Capital LLC now owns 3,539,236 shares of the company’s stock worth $154,240,000 after purchasing an additional 153,127 shares during the period. William Blair Investment Management LLC grew its position in 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 in the last quarter. Finally, Champlain Investment Partners LLC grew its position in 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 in the last quarter. 89.06% of the stock is currently owned by institutional investors and hedge funds.

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.