Tenable (NASDAQ:TENB) Price Target Cut to $43.00 by Analysts at JPMorgan Chase & Co.

Tenable (NASDAQ:TENB) had its target price lowered by JPMorgan Chase & Co. from $53.00 to $43.00 in a report issued on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other equities analysts have also issued reports about the stock. Truist Financial dropped their price objective on shares of Tenable from $48.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Morgan Stanley cut their price objective on shares of Tenable from $40.00 to $30.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Jefferies Financial Group decreased their target price on Tenable from $45.00 to $37.00 and set a “hold” rating on the stock in a research report on Monday, March 31st. Barclays dropped their price target on Tenable from $48.00 to $40.00 and set an “equal weight” rating for the company in a report on Monday, April 14th. Finally, Stifel Nicolaus cut Tenable from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $46.00 to $45.00 in a research report on Friday, January 17th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $41.74.

Tenable Stock Down 9.2 %

Shares of TENB stock opened at $30.57 on Monday. Tenable has a 52-week low of $28.75 and a 52-week high of $49.18. The stock has a market cap of $3.67 billion, a price-to-earnings ratio of -101.90 and a beta of 0.88. The firm’s 50-day moving average is $34.79 and its 200-day moving average is $38.99. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.28 and a current ratio of 1.28.

Tenable (NASDAQ:TENB) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.08. The company had revenue of $239.14 million during the quarter, compared to analysts’ expectations of $234.12 million. Tenable had a negative return on equity of 2.07% and a negative net margin of 4.03%. The business’s revenue was up 10.7% on a year-over-year basis. During the same period last year, the firm posted $0.25 earnings per share. Sell-side analysts predict that Tenable will post 0.12 EPS for the current year.

Insider Buying and Selling at Tenable

In other news, CEO Mark C. Thurmond sold 3,606 shares of Tenable stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $38.48, for a total value of $138,758.88. Following the transaction, the chief executive officer now owns 74,295 shares in the company, valued at approximately $2,858,871.60. This trade represents a 4.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Linda Kay Zecher sold 2,500 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $37.00, for a total value of $92,500.00. Following the sale, the director now owns 353 shares of the company’s stock, valued at approximately $13,061. This represents a 87.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,128 shares of company stock worth $539,256 over the last three months. Corporate insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Tenable

A number of institutional investors have recently added to or reduced their stakes in TENB. Assenagon Asset Management S.A. acquired a new stake in Tenable in the fourth quarter valued at approximately $15,653,000. Nordea Investment Management AB lifted its stake in shares of Tenable by 10.4% in the 4th quarter. Nordea Investment Management AB now owns 267,519 shares of the company’s stock valued at $10,489,000 after acquiring an additional 25,247 shares during the last quarter. Barclays PLC boosted its holdings in shares of Tenable by 31.9% during the 3rd quarter. Barclays PLC now owns 731,626 shares of the company’s stock valued at $29,646,000 after acquiring an additional 177,048 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in Tenable by 430.7% during the 4th quarter. Harbor Capital Advisors Inc. now owns 248,117 shares of the company’s stock worth $9,771,000 after acquiring an additional 201,360 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in Tenable by 41.9% in the 4th quarter. Wells Fargo & Company MN now owns 67,831 shares of the company’s stock worth $2,671,000 after purchasing an additional 20,031 shares in the last quarter. 89.06% of the stock is currently 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 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.