Truist Financial Reaffirms Buy Rating for Tenable (NASDAQ:TENB)

Truist Financial reissued their buy rating on shares of Tenable (NASDAQ:TENB) in a research note published on Thursday morning, Benzinga reports. They currently have a $55.00 price objective on the stock, down from their prior price objective of $60.00.

Other equities analysts also recently issued research reports about the company. Susquehanna decreased their target price on Tenable from $60.00 to $48.00 and set a positive rating on the stock in a research report on Thursday. Wedbush reaffirmed an outperform rating and set a $65.00 target price on shares of Tenable in a research note on Thursday, May 2nd. Westpark Capital reiterated a buy rating and issued a $54.00 target price on shares of Tenable in a research report on Monday. Scotiabank began coverage on shares of Tenable in a research report on Friday, April 26th. They set a sector perform rating and a $47.00 price target on the stock. Finally, DA Davidson downgraded shares of Tenable from a buy rating to a neutral rating and cut their price objective for the company from $56.00 to $40.00 in a report on Thursday. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $53.00.

Tenable Price Performance

Tenable stock traded down $1.44 during trading on Thursday, reaching $41.04. The company had a trading volume of 281,470 shares, compared to its average volume of 967,638. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.23 and a current ratio of 1.23. The firm’s 50-day simple moving average is $42.43 and its 200 day simple moving average is $45.49. The firm has a market capitalization of $4.88 billion, a PE ratio of -73.24 and a beta of 0.86. 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, May 1st. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.03. Tenable had a negative net margin of 7.77% and a negative return on equity of 7.70%. The firm had revenue of $215.96 million during the quarter, compared to the consensus estimate of $213.56 million. As a group, equities research analysts anticipate that Tenable will post -0.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Tenable

In other Tenable news, insider Mark C. Thurmond 4,700 shares of the stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a document filed with the SEC, which is available at this link. In other Tenable news, CEO Amit Yoran sold 40,000 shares of the business’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $47.72, for a total transaction of $1,908,800.00. Following the sale, the chief executive officer now directly owns 387,356 shares in the company, valued at $18,484,628.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark C. Thurmond 4,700 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The disclosure for this trade can be found here. Insiders have sold 64,132 shares of company stock valued at $2,957,983 over the last 90 days. 4.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Tenable

Several large investors have recently added to or reduced their stakes in TENB. Corient Private Wealth LLC increased its position in shares of Tenable by 16.7% during the fourth quarter. Corient Private Wealth LLC now owns 77,383 shares of the company’s stock worth $3,564,000 after acquiring an additional 11,088 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Tenable by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 981,899 shares of the company’s stock worth $45,226,000 after purchasing an additional 26,496 shares during the period. CHURCHILL MANAGEMENT Corp acquired a new stake in Tenable in the 1st quarter valued at about $1,239,000. Mutual of America Capital Management LLC boosted its stake in shares of Tenable by 39.3% in the 4th quarter. Mutual of America Capital Management LLC now owns 82,858 shares of the company’s stock valued at $3,816,000 after buying an additional 23,385 shares during the period. Finally, CANADA LIFE ASSURANCE Co grew its position in shares of Tenable by 21.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 352,468 shares of the company’s stock worth $17,408,000 after buying an additional 61,080 shares in the last quarter. 89.06% of the stock is owned by hedge funds and other 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.