Wedbush Reiterates “Outperform” Rating for Tenable (NASDAQ:TENB)

Wedbush reiterated their outperform rating on shares of Tenable (NASDAQ:TENB) in a research report released on Thursday morning, Benzinga reports. Wedbush currently has a $65.00 target price on the stock.

A number of other brokerages have also commented on TENB. Stephens lifted their price objective on Tenable from $60.00 to $62.00 and gave the stock an overweight rating in a research report on Wednesday, February 7th. Needham & Company LLC reiterated a buy rating and set a $62.00 price target on shares of Tenable in a research report on Thursday. Susquehanna boosted their price target on shares of Tenable from $55.00 to $60.00 and gave the stock a positive rating in a research note on Thursday, February 8th. Truist Financial raised their price objective on shares of Tenable from $50.00 to $60.00 and gave the company a buy rating in a research note on Wednesday, February 7th. Finally, Westpark Capital upgraded shares of Tenable from a hold rating to a buy rating and set a $65.00 target price for the company in a research report on Friday, January 12th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $57.20.

Tenable Price Performance

Shares of TENB stock opened at $44.78 on Thursday. Tenable has a 1 year low of $33.85 and a 1 year high of $53.50. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.04. The firm’s 50 day moving average is $47.06 and its 200-day moving average is $45.18. The firm has a market capitalization of $5.32 billion, a price-to-earnings ratio of -76.90 and a beta of 0.94.

Tenable (NASDAQ:TENB) last posted its quarterly earnings data on Tuesday, February 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.06. The firm had revenue of $213.31 million for the quarter, compared to the consensus estimate of $206.95 million. Tenable had a negative return on equity of 10.59% and a negative net margin of 8.18%. Sell-side analysts forecast that Tenable will post -0.14 EPS for the current fiscal year.

Insider Activity at Tenable

In other Tenable news, CEO Amit Yoran sold 12,329 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $46.22, for a total transaction of $569,846.38. Following the sale, the chief executive officer now directly owns 304,444 shares in the company, valued at approximately $14,071,401.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Linda Kay Zecher sold 2,600 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $50.75, for a total transaction of $131,950.00. Following the completion of the transaction, the director now directly owns 2 shares in the company, valued at $101.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Amit Yoran sold 12,329 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $46.22, for a total value of $569,846.38. Following the completion of the sale, the chief executive officer now owns 304,444 shares in the company, valued at approximately $14,071,401.68. The disclosure for this sale can be found here. In the last three months, insiders sold 317,382 shares of company stock worth $15,021,615. 4.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tenable

Several hedge funds have recently made changes to their positions in the business. Dakota Wealth Management acquired a new position in Tenable during the third quarter worth $210,000. Raymond James & Associates increased its stake in Tenable by 4.8% in the 3rd quarter. Raymond James & Associates now owns 17,336 shares of the company’s stock valued at $777,000 after buying an additional 800 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in Tenable by 2.0% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 45,740 shares of the company’s stock worth $2,049,000 after buying an additional 904 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of Tenable by 0.9% during the 3rd quarter. Mackenzie Financial Corp now owns 3,021,637 shares of the company’s stock worth $131,955,000 after buying an additional 27,875 shares during the last quarter. Finally, Emerald Advisers LLC grew its holdings in shares of Tenable by 7.7% in the 3rd quarter. Emerald Advisers LLC now owns 795,198 shares of the company’s stock valued at $35,625,000 after acquiring an additional 56,677 shares in the last quarter. 89.06% of the stock is owned by institutional investors.

About Tenable

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.