Tenable Holdings, Inc. (NASDAQ:TENB) Stock Has Average Target Price of $46.25

Shares of Tenable Holdings, Inc. (NASDAQ:TENB) have earned an average recommendation of “Hold” from the twenty-two research firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation and ten have given a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $46.25.

TENB has been the subject of a number of recent research reports. Robert W. Baird set a $55.00 target price on Tenable in a research note on Thursday, October 29th. Cantor Fitzgerald upped their price target on Tenable from $45.00 to $53.00 and gave the stock an “overweight” rating in a report on Thursday, October 29th. Truist Financial reissued a “hold” rating and issued a $45.00 price objective (up from $35.00) on shares of Tenable in a research report on Thursday, October 29th. Weiss Ratings raised Tenable from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, November 4th. Finally, TD Cowen increased their price target on Tenable from $44.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, October 29th.

Insider Activity

In related news, Director A. Brooke Seawell sold 15,000 shares of Tenable stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $50.33, for a total value of $754,950.00. Following the completion of the transaction, the director directly owned 115,292 shares in the company, valued at approximately $5,802,646.36. This trade represents a 11.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Barron Anschutz sold 10,000 shares of the stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $51.00, for a total value of $510,000.00. Following the transaction, the chief accounting officer directly owned 66,077 shares in the company, valued at approximately $3,369,927. This represents a 13.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 26,390 shares of company stock valued at $1,314,446 in the last three months. Insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Tenable

A number of institutional investors have recently modified their holdings of TENB. BlackRock Inc. bought a new stake in shares of Tenable in the 2nd quarter worth approximately $498,387,000. Arrowstreet Capital Limited Partnership increased its holdings 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 worth $63,131,000 after acquiring an additional 2,375,587 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in shares of Tenable in the 2nd quarter worth about $76,759,000. Voya Investment Management LLC boosted its stake in Tenable by 90.5% during the 3rd quarter. Voya Investment Management LLC now owns 3,060,427 shares of the company’s stock valued at $111,369,000 after purchasing an additional 1,453,588 shares during the period. Finally, Freestone Grove Partners LP bought a new position in Tenable in the 2nd quarter worth about $42,489,000. Institutional investors own 89.06% of the company’s stock.

Tenable Price Performance

TENB stock opened at $41.05 on Friday. The stock’s fifty day simple moving average is $39.62 and its 200-day simple moving average is $29.75. Tenable has a 52-week low of $15.73 and a 52-week high of $53.22. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of 93.33 and a beta of 0.89. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.78.

Tenable (NASDAQ:TENB) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.12. The firm had revenue of $276.39 million for the quarter, compared to analyst estimates of $271.58 million. Tenable had a return on equity of 28.72% and a net margin of 1.48%. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the company earned $0.42 EPS. Equities research analysts expect that Tenable will post 0.58 EPS for the current year.

Tenable Company Profile

Tenable Holdings, Inc. is a cybersecurity company that helps organizations identify, assess and manage security risks across their technology environments. Its exposure management approach is designed to give customers visibility into vulnerabilities and other potential weaknesses across information technology, cloud, operational technology and identity systems. The company’s offerings include Tenable One, its exposure management platform, and Nessus, its vulnerability assessment product. Its portfolio also includes solutions for security operations, cloud security, operational technology and application security.