Tenable (NASDAQ:TENB) Shares Down 5.4% – Here’s Why

Tenable Holdings, Inc. (NASDAQ:TENB) shares were down 5.4% during trading on Friday. The stock traded as low as $33.97 and last traded at $33.93. 1,598,723 shares traded hands during trading, a decline of 54% from the average session volume of 3,509,115 shares. The stock had previously closed at $35.88.

Analysts Set New Price Targets

Several research analysts recently commented on TENB shares. Wall Street Zen downgraded Tenable from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 19th. Needham & Company LLC upped their target price on shares of Tenable from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Cantor Fitzgerald increased their target price on shares of Tenable from $30.00 to $45.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. UBS Group reduced their target price on shares of Tenable from $37.00 to $34.00 and set a “neutral” rating for the company in a research report on Thursday, July 30th. Finally, Canaccord Genuity Group raised their price target on shares of Tenable from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Seven research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $34.68.

Tenable Stock Performance

The stock has a market cap of $3.74 billion, a PE ratio of 679.06 and a beta of 0.96. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.78. The stock has a 50-day moving average of $35.10 and a 200 day moving average of $28.52.

Tenable (NASDAQ:TENB) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.04. The company had revenue of $268.51 million for the quarter, compared to analyst estimates of $264.87 million. Tenable had a return on equity of 14.90% and a net margin of 0.65%.The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 earnings per share. Tenable has set its FY 2026 guidance at 1.950-2.000 EPS and its Q3 2026 guidance at 0.490-0.520 EPS. Equities analysts predict that Tenable Holdings, Inc. will post 0.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Tenable

Several hedge funds and other institutional investors have recently bought and sold shares of TENB. Firetrail Investments PTY Ltd. acquired a new position in Tenable in the second quarter valued at about $8,389,000. Dimensional Fund Advisors LP increased its position in shares of Tenable by 231.4% during the first quarter. Dimensional Fund Advisors LP now owns 817,447 shares of the company’s stock valued at $13,827,000 after acquiring an additional 570,760 shares during the last quarter. BlackRock Inc. purchased a new stake in shares of Tenable in the 2nd quarter valued at approximately $498,387,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Tenable by 175.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,732,271 shares of the company’s stock valued at $63,131,000 after acquiring an additional 2,375,587 shares during the period. Finally, Bank of America Corp DE acquired a new position in shares of Tenable in the 2nd quarter worth approximately $30,884,000. 89.06% of the stock is currently owned by institutional investors and hedge funds.

About Tenable

Tenable Holdings, Inc is a cybersecurity company that helps organizations identify, assess and reduce cyber risk across their technology environments. Its platform is designed to provide visibility into vulnerabilities and exposures affecting information technology, cloud, operational technology and identity systems.

The company’s product portfolio includes Tenable One, an exposure-management platform that brings together data and capabilities for vulnerability management, attack-surface management and other risk assessments.