Robert W. Baird Cuts Tenable (NASDAQ:TENB) Price Target to $53.00

Tenable (NASDAQ:TENB) had its price objective reduced by equities researchers at Robert W. Baird from $55.00 to $53.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s target price points to a potential upside of 15.42% from the company’s previous close.

A number of other brokerages have also commented on TENB. Scotiabank began coverage on Tenable in a report on Friday, April 26th. They set a “sector perform” rating and a $47.00 price target on the stock. Westpark Capital reaffirmed a “buy” rating and set a $54.00 target price on shares of Tenable in a research note on Monday. Baird R W raised Tenable to a “strong-buy” rating in a research note on Monday, July 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $62.00 target price on shares of Tenable in a research note on Friday, June 14th. Finally, Wedbush reaffirmed an “outperform” rating and set a $65.00 target price on shares of Tenable in a research note on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $55.50.

Tenable Price Performance

Shares of NASDAQ TENB opened at $45.92 on Thursday. Tenable has a 1-year low of $33.85 and a 1-year high of $53.50. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.23 and a quick ratio of 1.23. The business’s fifty day moving average price is $42.45 and its two-hundred day moving average price is $45.52. The firm has a market capitalization of $5.46 billion, a PE ratio of -79.17 and a beta of 0.86.

Tenable (NASDAQ:TENB) last issued its earnings results on Wednesday, May 1st. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.03. The firm had revenue of $215.96 million for the quarter, compared to analyst estimates of $213.56 million. Tenable had a negative return on equity of 10.40% and a negative net margin of 8.18%. On average, research analysts expect that Tenable will post -0.14 EPS for the current year.

Insider Transactions at Tenable

In other Tenable news, Director Yoran Amit 70,000 shares of Tenable stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Tenable news, Director Yoran Amit 70,000 shares of the stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Amit Yoran sold 5,359 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $43.18, for a total value of $231,401.62. Following the completion of the transaction, the chief executive officer now directly owns 367,911 shares in the company, valued at $15,886,396.98. The disclosure for this sale can be found here. Insiders sold 24,132 shares of company stock valued at $1,049,183 in the last three months. Corporate insiders own 4.30% of the company’s stock.

Institutional Trading of Tenable

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TENB. SG Americas Securities LLC acquired a new stake in Tenable in the 4th quarter valued at approximately $127,000. Assenagon Asset Management S.A. acquired a new stake in shares of Tenable during the 4th quarter worth approximately $1,404,000. Fulton Bank N.A. grew its holdings in shares of Tenable by 16.5% during the 4th quarter. Fulton Bank N.A. now owns 7,281 shares of the company’s stock worth $335,000 after purchasing an additional 1,029 shares in the last quarter. Prime Capital Investment Advisors LLC grew its holdings in shares of Tenable by 0.4% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 121,194 shares of the company’s stock worth $5,582,000 after purchasing an additional 474 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Tenable by 6.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 801,267 shares of the company’s stock worth $36,906,000 after purchasing an additional 48,410 shares in the last quarter. Institutional investors and hedge funds 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.