Tenable Holdings, Inc. to Post Q2 2024 Earnings of ($0.08) Per Share, DA Davidson Forecasts (NASDAQ:TENB)

Tenable Holdings, Inc. (NASDAQ:TENB) – Stock analysts at DA Davidson issued their Q2 2024 EPS estimates for shares of Tenable in a report released on Thursday, May 2nd. DA Davidson analyst R. Kessinger anticipates that the company will post earnings of ($0.08) per share for the quarter. The consensus estimate for Tenable’s current full-year earnings is ($0.14) per share. DA Davidson also issued estimates for Tenable’s FY2024 earnings at ($0.14) EPS and FY2025 earnings at ($0.13) EPS.

Tenable (NASDAQ:TENB) last posted its quarterly earnings data on Tuesday, February 6th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.06. The company had revenue of $213.31 million for the quarter, compared to analyst estimates of $206.95 million. Tenable had a negative return on equity of 10.59% and a negative net margin of 8.18%.

TENB has been the subject of a number of other research reports. Truist Financial lifted their target price on shares of Tenable from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Scotiabank assumed coverage on Tenable in a research note on Friday, April 26th. They issued a “sector perform” rating and a $47.00 target price on the stock. Morgan Stanley upgraded shares of Tenable from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $46.00 to $60.00 in a research report on Tuesday, January 9th. Needham & Company LLC restated a “buy” rating and set a $62.00 price objective on shares of Tenable in a report on Thursday. Finally, Stephens increased their target price on shares of Tenable from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $57.20.

Tenable Stock Down 1.3 %

Shares of NASDAQ:TENB opened at $44.60 on Monday. The company has a 50 day moving average of $47.06 and a 200-day moving average of $45.18. Tenable has a one year low of $33.85 and a one year high of $53.50. The stock has a market cap of $5.30 billion, a price-to-earnings ratio of -76.90 and a beta of 0.94. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.19 and a quick ratio of 1.19.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TENB. Norges Bank bought a new position in Tenable during the fourth quarter worth about $56,568,000. William Blair Investment Management LLC boosted its stake in shares of Tenable by 36.6% during the 3rd quarter. William Blair Investment Management LLC now owns 3,028,310 shares of the company’s stock worth $135,668,000 after acquiring an additional 810,831 shares during the period. Readystate Asset Management LP acquired a new position in shares of Tenable during the 4th quarter worth approximately $32,199,000. First Trust Advisors LP raised its stake in Tenable by 18.0% in the 4th quarter. First Trust Advisors LP now owns 4,452,555 shares of the company’s stock valued at $205,085,000 after acquiring an additional 680,477 shares during the period. Finally, Lord Abbett & CO. LLC lifted its holdings in Tenable by 114.7% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,006,755 shares of the company’s stock valued at $45,103,000 after purchasing an additional 537,886 shares during the last quarter. Institutional investors and hedge funds own 89.06% of the company’s stock.

Insider Activity

In other Tenable news, CEO Amit Yoran sold 12,329 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $46.22, for a total transaction of $569,846.38. Following the completion of the transaction, the chief executive officer now owns 304,444 shares of the company’s stock, valued at approximately $14,071,401.68. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Stephen A. Vintz sold 15,505 shares of Tenable stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $49.56, for a total value of $768,427.80. Following the sale, the chief financial officer now owns 257,924 shares of the company’s stock, valued at $12,782,713.44. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Amit Yoran sold 12,329 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $46.22, for a total value of $569,846.38. Following the sale, the chief executive officer now owns 304,444 shares in the company, valued at approximately $14,071,401.68. The disclosure for this sale can be found here. Insiders have sold a total of 317,382 shares of company stock worth $15,021,615 over the last three months. Corporate insiders own 4.30% of the company’s stock.

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.