Needham & Company LLC Reiterates “Buy” Rating for Tenable (NASDAQ:TENB)

Tenable (NASDAQ:TENB)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a research report issued on Monday,Benzinga reports. They presently have a $50.00 target price on the stock. Needham & Company LLC’s target price would suggest a potential upside of 28.30% from the company’s previous close.

Several other brokerages also recently weighed in on TENB. Jefferies Financial Group upped their target price on Tenable from $40.00 to $45.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. Barclays reduced their price objective on shares of Tenable from $49.00 to $45.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Morgan Stanley reiterated an “equal weight” rating and issued a $47.00 target price (down previously from $50.00) on shares of Tenable in a research report on Monday, December 2nd. Westpark Capital restated a “hold” rating on shares of Tenable in a research report on Thursday, October 31st. Finally, Robert W. Baird decreased their price target on shares of Tenable from $53.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Tenable currently has an average rating of “Moderate Buy” and a consensus target price of $50.63.

Tenable Price Performance

Shares of Tenable stock opened at $38.97 on Monday. The firm has a market cap of $4.68 billion, a PE ratio of -76.41 and a beta of 0.85. Tenable has a twelve month low of $35.25 and a twelve month high of $53.50. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.88. The business has a 50-day moving average price of $41.22 and a 200 day moving average price of $41.52.

Insider Activity at Tenable

In other Tenable news, COO Mark C. Thurmond sold 2,209 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $40.72, for a total transaction of $89,950.48. Following the completion of the sale, the chief operating officer now owns 35,480 shares of the company’s stock, valued at $1,444,745.60. This trade represents a 5.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Stephen A. Vintz sold 2,801 shares of Tenable stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $40.72, for a total value of $114,056.72. Following the completion of the sale, the chief financial officer now owns 281,536 shares in the company, valued at $11,464,145.92. This represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,654 shares of company stock valued at $862,879. 4.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tenable

A number of institutional investors have recently made changes to their positions in TENB. Covestor Ltd raised its holdings in shares of Tenable by 84.5% in the 3rd quarter. Covestor Ltd now owns 631 shares of the company’s stock valued at $26,000 after buying an additional 289 shares during the period. Larson Financial Group LLC increased its stake in Tenable by 658.6% during the third quarter. Larson Financial Group LLC now owns 751 shares of the company’s stock worth $30,000 after purchasing an additional 652 shares during the period. Quest Partners LLC acquired a new stake in shares of Tenable during the second quarter worth about $40,000. Truvestments Capital LLC purchased a new position in shares of Tenable in the third quarter valued at approximately $171,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Tenable in the second quarter valued at approximately $200,000. 89.06% of the stock is currently owned by institutional investors and hedge funds.

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.