Tenable (NASDAQ:TENB) Posts Earnings Results

Tenable (NASDAQ:TENB) released its earnings results on Wednesday. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.26), Zacks reports. Tenable had a negative net margin of 6.82% and a negative return on equity of 6.21%.

Tenable Trading Up 0.4 %

Shares of Tenable stock traded up $0.19 on Wednesday, reaching $43.21. The company had a trading volume of 2,404,852 shares, compared to its average volume of 1,111,321. The firm’s 50 day moving average price is $41.43 and its two-hundred day moving average price is $41.33. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.28 and a current ratio of 1.28. Tenable has a 52-week low of $35.25 and a 52-week high of $53.50. The firm has a market cap of $5.19 billion, a PE ratio of -84.73 and a beta of 0.87.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 target price on shares of Tenable in a research note on Monday, January 6th. Robert W. Baird dropped their price objective on shares of Tenable from $53.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Morgan Stanley reissued an “equal weight” rating and issued a $47.00 target price (down from $50.00) on shares of Tenable in a research note on Monday, December 2nd. Barclays dropped their price target on Tenable from $49.00 to $45.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Finally, Jefferies Financial Group lifted their price objective on Tenable from $40.00 to $45.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $50.25.

Insider Activity at Tenable

In other Tenable news, Director Raymond Jr. Vicks sold 809 shares of the business’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $38.52, for a total transaction of $31,162.68. Following the sale, the director now directly owns 8,659 shares in the company, valued at $333,544.68. This represents a 8.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Amit Yoran sold 4,828 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $40.72, for a total transaction of $196,596.16. Following the sale, the chief executive officer now directly owns 45,171 shares in the company, valued at $1,839,363.12. This represents a 9.66 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,463 shares of company stock worth $894,042. Insiders own 4.30% of the company’s stock.

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.