Needham & Company LLC Lowers Tenable (NASDAQ:TENB) Price Target to $50.00

Tenable (NASDAQ:TENB) had its target price trimmed by Needham & Company LLC from $62.00 to $50.00 in a research report released on Thursday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts also recently issued research reports about the stock. Stifel Nicolaus decreased their price objective on shares of Tenable from $54.00 to $52.00 and set a buy rating on the stock in a report on Thursday. Susquehanna decreased their price target on Tenable from $60.00 to $48.00 and set a positive rating on the stock in a research note on Thursday. Robert W. Baird dropped their price objective on Tenable from $55.00 to $53.00 and set an outperform rating for the company in a research note on Thursday. Truist Financial reissued a buy rating and issued a $55.00 target price (down previously from $60.00) on shares of Tenable in a report on Thursday. Finally, DA Davidson downgraded Tenable from a buy rating to a neutral rating and cut their price target for the stock from $56.00 to $40.00 in a research note on Thursday. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $53.00.

Tenable Price Performance

Tenable stock opened at $41.77 on Thursday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.23 and a current ratio of 1.23. Tenable has a one year low of $33.85 and a one year high of $53.50. The company has a market cap of $4.97 billion, a P/E ratio of -72.02 and a beta of 0.86. The business has a fifty day moving average of $42.39 and a two-hundred day moving average of $45.44.

Insider Activity at Tenable

In other Tenable news, CEO Amit Yoran sold 4,851 shares of Tenable stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $43.76, for a total value of $212,279.76. Following the completion of the sale, the chief executive officer now directly owns 361,457 shares of the company’s stock, valued at approximately $15,817,358.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Tenable news, CEO Amit Yoran sold 4,851 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $43.76, for a total value of $212,279.76. Following the sale, the chief executive officer now directly owns 361,457 shares of the company’s stock, valued at approximately $15,817,358.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Linda Kay Zecher sold 2,350 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $43.47, for a total transaction of $102,154.50. Following the transaction, the director now directly owns 2,853 shares of the company’s stock, valued at approximately $124,019.91. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 64,132 shares of company stock valued at $2,957,983. Company insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Tenable

Hedge funds have recently made changes to their positions in the stock. Principal Securities Inc. acquired a new stake in shares of Tenable during the 4th quarter worth $35,000. Fidelis Capital Partners LLC acquired a new stake in Tenable during the first quarter worth about $58,000. Verity & Verity LLC acquired a new stake in Tenable during the first quarter worth about $127,000. SG Americas Securities LLC purchased a new position in shares of Tenable in the 4th quarter worth about $127,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Tenable by 9.2% in 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 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.