Tenable (NASDAQ:TENB) Price Target Cut to $50.00 by Analysts at Piper Sandler

Tenable (NASDAQ:TENB) had its price target reduced by Piper Sandler from $55.00 to $50.00 in a research note published on Thursday, Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Several other brokerages also recently commented on TENB. Jefferies Financial Group began coverage on Tenable in a research note on Wednesday, October 16th. They issued a “hold” rating and a $45.00 target price for the company. Canaccord Genuity Group reduced their price objective on shares of Tenable from $57.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Stifel Nicolaus lowered their price objective on Tenable from $54.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Robert W. Baird reduced their target price on Tenable from $53.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Finally, Baird R W raised Tenable to a “strong-buy” rating in a report on Monday, July 15th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Tenable presently has an average rating of “Moderate Buy” and a consensus price target of $50.81.

Tenable Stock Performance

NASDAQ TENB traded up $0.25 during trading on Thursday, hitting $39.86. 257,128 shares of the company’s stock traded hands, compared to its average volume of 907,257. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a market capitalization of $4.75 billion, a price-to-earnings ratio of -77.67 and a beta of 0.83. Tenable has a 12-month low of $33.85 and a 12-month high of $53.50. The business has a 50 day moving average of $40.76 and a 200-day moving average of $42.24.

Tenable (NASDAQ:TENB) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.03. Tenable had a negative net margin of 6.82% and a negative return on equity of 6.42%. The company had revenue of $221.24 million during the quarter, compared to the consensus estimate of $218.41 million. As a group, equities research analysts anticipate that Tenable will post -0.06 earnings per share for the current fiscal year.

Insider Activity

In other Tenable news, CEO Amit Yoran sold 5,673 shares of the company’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 $236,847.75. Following the transaction, the chief executive officer now owns 39,309 shares in the company, valued at approximately $1,641,150.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other 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 value of $142,492.75. Following the sale, the chief financial officer now directly owns 278,493 shares of the company’s stock, valued at $11,627,082.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Amit Yoran sold 5,673 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $41.75, for a total value of $236,847.75. Following the transaction, the chief executive officer now directly owns 39,309 shares of the company’s stock, valued at approximately $1,641,150.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,469 shares of company stock valued at $520,276. Corporate insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Tenable

Hedge funds have recently added to or reduced their stakes in the company. Quest Partners LLC bought a new stake in shares of Tenable in the second quarter worth approximately $40,000. Fidelis Capital Partners LLC bought a new stake in Tenable in the 1st quarter worth approximately $58,000. Allspring Global Investments Holdings LLC raised its stake in 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 buying an additional 312 shares during the last quarter. Truvestments Capital LLC purchased a new stake in Tenable during the first quarter valued at $189,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Tenable in the second quarter valued at about $200,000. 89.06% of the stock is currently owned by hedge funds and other institutional investors.

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.