Tenable (NASDAQ:TENB) Releases FY24 Earnings Guidance

Tenable (NASDAQ:TENB) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $1.21-$1.23 for the period, compared to the consensus earnings per share estimate of $1.18. The company issued revenue guidance of $893.3-$897.3 million, compared to the consensus revenue estimate of $892.34 million.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TENB. Morgan Stanley cut their price target on Tenable from $55.00 to $50.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Susquehanna decreased their price target on shares of Tenable from $60.00 to $48.00 and set a “positive” rating on the stock in a research note on Thursday, August 1st. Stifel Nicolaus decreased their price target on Tenable from $54.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Barclays decreased their price target on Tenable from $57.00 to $49.00 and set an “equal weight” rating for the company in a research note on Thursday, August 1st. Finally, Baird R W raised shares of Tenable to a “strong-buy” rating in a research report on Monday, July 15th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.38.

Tenable Stock Performance

NASDAQ:TENB traded down $0.57 during midday trading on Wednesday, hitting $41.23. The company’s stock had a trading volume of 1,324,688 shares, compared to its average volume of 904,614. Tenable has a fifty-two week low of $33.85 and a fifty-two week high of $53.50. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a market cap of $4.91 billion, a P/E ratio of -74.64 and a beta of 0.83. The firm’s 50 day moving average is $40.83 and its 200-day moving average is $42.27.

Tenable (NASDAQ:TENB) last announced its quarterly earnings results on Wednesday, July 31st. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.03. The company had revenue of $221.24 million for the quarter, compared to the consensus estimate of $218.41 million. Tenable had a negative return on equity of 7.63% and a negative net margin of 7.77%. Equities analysts anticipate that Tenable will post -0.06 earnings per share for the current fiscal year.

Insider Activity at Tenable

In related news, CFO Stephen A. Vintz sold 3,413 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $41.75, for a total transaction of $142,492.75. Following the completion of the sale, the chief financial officer now directly owns 278,493 shares in the company, valued at approximately $11,627,082.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Stephen A. Vintz sold 3,413 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $41.75, for a total value of $142,492.75. Following the transaction, the chief financial officer now owns 278,493 shares of the company’s stock, valued at $11,627,082.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Mark C. Thurmond sold 3,383 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $41.66, for a total transaction of $140,935.78. Following the completion of the sale, the chief operating officer now owns 34,079 shares in the company, valued at approximately $1,419,731.14. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,469 shares of company stock worth $520,276. 4.30% of the stock is owned by company insiders.

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.