Tenable (NASDAQ:TENB) Price Target Cut to $50.00 by Analysts at Morgan Stanley

Tenable (NASDAQ:TENB) had its price target reduced by Morgan Stanley from $55.00 to $50.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts also recently commented on TENB. Westpark Capital downgraded shares of Tenable from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 1st. DA Davidson downgraded shares of Tenable from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $56.00 to $40.00 in a report on Thursday, August 1st. Stifel Nicolaus lowered their price target on shares of Tenable from $54.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Jefferies Financial Group began coverage on shares of Tenable in a report on Wednesday, October 16th. They issued a “hold” rating and a $45.00 target price for the company. Finally, Robert W. Baird lowered their target price on shares of Tenable from $55.00 to $53.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Tenable has a consensus rating of “Moderate Buy” and a consensus price target of $51.38.

Tenable Stock Performance

Shares of TENB opened at $41.63 on Wednesday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.98. The stock has a market cap of $4.95 billion, a P/E ratio of -71.78 and a beta of 0.83. The company has a 50-day moving average of $40.87 and a two-hundred day moving average of $42.43. Tenable has a 12-month low of $33.85 and a 12-month high of $53.50.

Tenable (NASDAQ:TENB) last issued its quarterly earnings results on Wednesday, July 31st. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The business had revenue of $221.24 million during the quarter, compared to the consensus estimate of $218.41 million. Tenable had a negative net margin of 7.77% and a negative return on equity of 7.63%. As a group, research analysts predict that Tenable will post -0.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tenable news, CEO Amit Yoran sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $47.72, for a total transaction of $1,908,800.00. Following the completion of the sale, the chief executive officer now directly owns 387,356 shares in the company, valued at $18,484,628.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Mark C. Thurmond sold 3,383 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $41.66, for a total transaction of $140,935.78. Following the transaction, the chief operating officer now directly owns 34,079 shares of the company’s stock, valued at approximately $1,419,731.14. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Amit Yoran sold 40,000 shares of the business’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $47.72, for a total transaction of $1,908,800.00. Following the transaction, the chief executive officer now directly owns 387,356 shares in the company, valued at approximately $18,484,628.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,469 shares of company stock worth $2,429,076 over the last ninety days. 4.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Tidal Investments LLC lifted its position in shares of Tenable by 157.8% during the first quarter. Tidal Investments LLC now owns 23,268 shares of the company’s stock worth $1,150,000 after purchasing an additional 14,244 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in Tenable by 21.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 352,468 shares of the company’s stock valued at $17,408,000 after acquiring an additional 61,080 shares in the last quarter. ProShare Advisors LLC raised its holdings in Tenable by 10.1% in the first quarter. ProShare Advisors LLC now owns 21,283 shares of the company’s stock valued at $1,052,000 after acquiring an additional 1,961 shares in the last quarter. Blair William & Co. IL raised its holdings in Tenable by 9.5% in the first quarter. Blair William & Co. IL now owns 295,886 shares of the company’s stock valued at $14,626,000 after acquiring an additional 25,760 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Tenable by 16.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 932,384 shares of the company’s stock valued at $46,088,000 after acquiring an additional 131,117 shares in the last quarter. 89.06% 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 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.