Tenable’s (TENB) “Buy” Rating Reaffirmed at Needham & Company LLC

Tenable (NASDAQ:TENB)‘s stock had its “buy” rating restated by equities research analysts at Needham & Company LLC in a report issued on Tuesday, Benzinga reports. They presently have a $62.00 price target on the stock. Needham & Company LLC’s price target would suggest a potential upside of 37.69% from the company’s current price.

Several other analysts also recently commented on TENB. Stephens increased their price objective on shares of Tenable from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Susquehanna raised their price target on shares of Tenable from $55.00 to $60.00 and gave the company a “positive” rating in a report on Thursday, February 8th. Wedbush reiterated an “outperform” rating and issued a $65.00 price target on shares of Tenable in a research note on Wednesday, April 10th. Westpark Capital upgraded shares of Tenable from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research report on Friday, January 12th. Finally, Morgan Stanley raised shares of Tenable from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $46.00 to $60.00 in a research report on Tuesday, January 9th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Tenable presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.63.

Tenable Stock Performance

Shares of TENB stock opened at $45.03 on Tuesday. Tenable has a one year low of $33.85 and a one year high of $53.50. The company’s 50-day moving average is $47.77 and its 200 day moving average is $45.10. The company has a market capitalization of $5.35 billion, a price-to-earnings ratio of -66.22 and a beta of 0.94. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.19 and a current ratio of 1.19.

Tenable (NASDAQ:TENB) last announced its quarterly earnings data on Tuesday, February 6th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.06. Tenable had a negative net margin of 9.80% and a negative return on equity of 15.19%. The company had revenue of $213.31 million for the quarter, compared to the consensus estimate of $206.95 million. Sell-side analysts expect that Tenable will post -0.12 EPS for the current fiscal year.

Insider Transactions at Tenable

In other news, CFO Stephen A. Vintz sold 200,000 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $46.93, for a total value of $9,386,000.00. Following the completion of the sale, the chief financial officer now directly owns 257,256 shares in the company, valued at approximately $12,073,024.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Mark C. Thurmond sold 3,976 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $47.34, for a total value of $188,223.84. Following the completion of the transaction, the chief operating officer now owns 53,500 shares of the company’s stock, valued at approximately $2,532,690. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Stephen A. Vintz sold 200,000 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $46.93, for a total transaction of $9,386,000.00. Following the completion of the transaction, the chief financial officer now directly owns 257,256 shares of the company’s stock, valued at approximately $12,073,024.08. The disclosure for this sale can be found here. Insiders sold 317,382 shares of company stock worth $15,021,615 in the last three months. Corporate insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TENB. NBC Securities Inc. bought a new position in shares of Tenable during the 3rd quarter valued at about $27,000. Principal Securities Inc. bought a new position in shares of Tenable during the 4th quarter valued at about $35,000. SG Americas Securities LLC bought a new position in shares of Tenable during the 4th quarter valued at about $127,000. Shell Asset Management Co. bought a new position in shares of Tenable during the 3rd quarter valued at about $138,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Tenable by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,708 shares of the company’s stock valued at $183,000 after purchasing an additional 312 shares during the last quarter. Institutional investors own 89.06% of the company’s stock.

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.