Tenable (NASDAQ:TENB) Now Covered by Analysts at TD Cowen

TD Cowen assumed coverage on shares of Tenable (NASDAQ:TENB) in a research report released on Monday, Marketbeat reports. The firm issued an outperform rating and a $55.00 price objective on the stock.

A number of other research analysts also recently weighed in on TENB. Wedbush raised their price target on Tenable from $45.00 to $55.00 in a research note on Wednesday, July 26th. TheStreet upgraded Tenable from a d+ rating to a c- rating in a research note on Thursday, August 3rd. JPMorgan Chase & Co. upgraded Tenable from a neutral rating to an overweight rating and lifted their target price for the stock from $51.00 to $56.00 in a research note on Monday, September 11th. Piper Sandler lifted their target price on Tenable from $50.00 to $55.00 in a research note on Wednesday, July 26th. Finally, Canaccord Genuity Group lifted their target price on Tenable from $60.00 to $63.00 and gave the stock a buy rating in a research note on Friday, September 8th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Tenable has an average rating of Moderate Buy and a consensus target price of $52.20.

Tenable Stock Up 2.7 %

NASDAQ:TENB opened at $46.83 on Monday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.56 and a current ratio of 1.56. The stock has a 50-day simple moving average of $45.13 and a 200 day simple moving average of $43.03. The company has a market cap of $5.42 billion, a PE ratio of -65.04 and a beta of 1.24. Tenable has a 52-week low of $28.80 and a 52-week high of $49.77.

Tenable (NASDAQ:TENB) last posted its quarterly earnings results on Tuesday, July 25th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.02. The firm had revenue of $195.04 million during the quarter, compared to the consensus estimate of $190.24 million. Tenable had a negative return on equity of 23.51% and a negative net margin of 10.94%. On average, sell-side analysts expect that Tenable will post -0.4 EPS for the current fiscal year.

Insider Buying and Selling at Tenable

In other Tenable news, CFO Stephen A. Vintz sold 2,784 shares of the company’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $44.44, for a total value of $123,720.96. Following the sale, the chief financial officer now owns 209,455 shares in the company, valued at approximately $9,308,180.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Amit Yoran sold 6,572 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $45.03, for a total value of $295,937.16. Following the transaction, the chief executive officer now directly owns 263,818 shares of the company’s stock, valued at approximately $11,879,724.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stephen A. Vintz sold 2,784 shares of the business’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $44.44, for a total value of $123,720.96. Following the completion of the transaction, the chief financial officer now directly owns 209,455 shares in the company, valued at $9,308,180.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 93,440 shares of company stock worth $4,330,649. Insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Tenable by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 10,984,228 shares of the company’s stock valued at $382,251,000 after purchasing an additional 337,206 shares during the period. BlackRock Inc. raised its stake in Tenable by 3.8% during the 1st quarter. BlackRock Inc. now owns 10,247,170 shares of the company’s stock worth $486,843,000 after buying an additional 370,932 shares during the period. RGM Capital LLC raised its stake in Tenable by 13.2% during the 2nd quarter. RGM Capital LLC now owns 4,040,154 shares of the company’s stock worth $175,949,000 after buying an additional 472,322 shares during the period. Mackenzie Financial Corp raised its stake in Tenable by 1.3% during the 1st quarter. Mackenzie Financial Corp now owns 3,028,326 shares of the company’s stock worth $175,007,000 after buying an additional 38,358 shares during the period. Finally, State Street Corp raised its stake in Tenable by 3.8% during the 2nd quarter. State Street Corp now owns 2,503,307 shares of the company’s stock worth $109,019,000 after buying an additional 92,160 shares during the period. 88.13% of the stock is owned by institutional investors and hedge funds.

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.io, a cloud-delivered software as a service that provides organizations with a risk-based view of traditional and modern attack surfaces; Tenable.cs, a cloud-native cloud security solutions for security teams to continuously assess the security posture; Tenable.io Web Application Scanning, which provides scanning for modern web applications; Tenable Lumin Exposure View, a measurement tool; and Tenable.asm, an external attack surface management solution.