Tenable (NASDAQ:TENB) Price Target Increased to $70.00 by Analysts at Wells Fargo & Company

Tenable (NASDAQ:TENB) had its price objective boosted by Wells Fargo & Company from $60.00 to $70.00 in a research note published on Wednesday, The Fly reports. They currently have an overweight rating on the stock.

Other analysts have also issued research reports about the company. Needham & Company LLC boosted their price target on Tenable from $58.00 to $62.00 and gave the company a buy rating in a research note on Wednesday. Wedbush boosted their price target on Tenable from $62.00 to $70.00 and gave the company an outperform rating in a research note on Wednesday. Berenberg Bank raised Tenable from a hold rating to a buy rating and set a $55.00 price objective on the stock in a research note on Friday, September 24th. Zacks Investment Research raised Tenable from a sell rating to a hold rating in a research note on Wednesday, June 30th. Finally, Stifel Nicolaus boosted their price objective on Tenable from $60.00 to $70.00 and gave the stock a buy rating in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Buy and an average price target of $61.29.

Shares of TENB stock opened at $52.33 on Wednesday. The company has a fifty day moving average of $45.71. The firm has a market cap of $5.58 billion, a price-to-earnings ratio of -201.27 and a beta of 1.62. Tenable has a one year low of $33.25 and a one year high of $58.45.

Tenable (NASDAQ:TENB) last announced its quarterly earnings results on Tuesday, October 26th. The company reported $0.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.05. The business had revenue of $138.66 million for the quarter, compared to analyst estimates of $134.61 million. Tenable had a negative return on equity of 11.68% and a negative net margin of 5.62%. Tenable’s quarterly revenue was up 23.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.05) EPS. As a group, sell-side analysts anticipate that Tenable will post -0.48 EPS for the current fiscal year.

In related news, Director Linda Kay Zecher sold 2,124 shares of the stock in a transaction that occurred on Wednesday, September 15th. The stock was sold at an average price of $47.08, for a total transaction of $99,997.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Amit Yoran sold 6,550 shares of the stock in a transaction that occurred on Friday, August 20th. The shares were sold at an average price of $40.39, for a total value of $264,554.50. Following the transaction, the chief executive officer now directly owns 213,059 shares of the company’s stock, valued at $8,605,453.01. The disclosure for this sale can be found here. Insiders sold 108,452 shares of company stock valued at $5,105,501 over the last 90 days. Corporate insiders own 8.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. lifted its position in shares of Tenable by 66.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,976 shares of the company’s stock valued at $82,000 after buying an additional 786 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Tenable by 27.0% in the second quarter. Nisa Investment Advisors LLC now owns 2,920 shares of the company’s stock valued at $121,000 after buying an additional 620 shares during the last quarter. Harbor Investment Advisory LLC lifted its position in shares of Tenable by 27.4% in the second quarter. Harbor Investment Advisory LLC now owns 3,457 shares of the company’s stock valued at $143,000 after buying an additional 744 shares during the last quarter. Lazard Asset Management LLC lifted its position in shares of Tenable by 20.5% in the second quarter. Lazard Asset Management LLC now owns 3,794 shares of the company’s stock valued at $156,000 after buying an additional 646 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its position in shares of Tenable by 14.6% in the first quarter. O Shaughnessy Asset Management LLC now owns 4,801 shares of the company’s stock valued at $174,000 after buying an additional 612 shares during the last quarter. 85.62% of the stock is owned by hedge funds and other institutional investors.

About Tenable

Tenable Holdings, Inc engages in the development of security software solutions. It offers Cyber Exposure which is a discipline for managing and measuring cybersecurity risk in the digital era. Its products include tenable.io, tenable.sc, tenable.ot, and nessus professional. The firm delivers solutions in the field of application security, cloud security, compliance, energy, finance, healthcare, and retail.

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