Tenable (NASDAQ:TENB) Reaches New 52-Week Low – Should You Sell?

Shares of Tenable Holdings, Inc. (NASDAQ:TENB) hit a new 52-week low on Monday . The stock traded as low as $23.96 and last traded at $24.13, with a volume of 860511 shares traded. The stock had previously closed at $24.17.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on TENB shares. Canaccord Genuity Group reduced their price target on shares of Tenable from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. Needham & Company LLC dropped their target price on shares of Tenable from $42.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Wall Street Zen upgraded Tenable from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Jefferies Financial Group set a $29.00 target price on shares of Tenable in a report on Tuesday, December 16th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $42.00 price target on shares of Tenable in a research note on Thursday, October 23rd. Nine research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $37.94.

Tenable Trading Down 0.1%

The company has a market cap of $2.87 billion, a price-to-earnings ratio of -89.25 and a beta of 0.73. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.03. The business’s fifty day simple moving average is $26.93 and its two-hundred day simple moving average is $29.71.

Tenable (NASDAQ:TENB) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.37 by $0.05. The company had revenue of $252.44 million for the quarter, compared to analyst estimates of $247.43 million. During the same quarter in the prior year, the business earned $0.32 earnings per share. Tenable’s revenue was up 11.2% compared to the same quarter last year. Tenable has set its FY 2025 guidance at 1.510-1.540 EPS and its Q4 2025 guidance at 0.390-0.430 EPS. On average, equities analysts predict that Tenable Holdings, Inc. will post 0.12 EPS for the current year.

Insider Transactions at Tenable

In other Tenable news, Director A Brooke Seawell sold 115,000 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $24.82, for a total value of $2,854,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Barron Anschutz sold 976 shares of the firm’s stock in a transaction that occurred on Friday, October 17th. The stock was sold at an average price of $29.10, for a total transaction of $28,401.60. Following the transaction, the insider owned 61,420 shares in the company, valued at approximately $1,787,322. This trade represents a 1.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TENB. CIBC Bancorp USA Inc. acquired a new stake in shares of Tenable during the third quarter worth about $378,000. Danske Bank A S purchased a new stake in Tenable during the 3rd quarter valued at approximately $840,000. CANADA LIFE ASSURANCE Co lifted its position in Tenable by 37.6% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 616,210 shares of the company’s stock worth $18,375,000 after acquiring an additional 168,340 shares during the period. Woodline Partners LP lifted its position in Tenable by 21.5% during the 3rd quarter. Woodline Partners LP now owns 125,092 shares of the company’s stock worth $3,648,000 after acquiring an additional 22,128 shares during the period. Finally, Dark Forest Capital Management LP purchased a new position in shares of Tenable in the 3rd quarter valued at approximately $806,000. 89.06% of the stock is owned by hedge funds and other institutional investors.

Tenable Company Profile

Tenable Holdings, Inc is a global cybersecurity company specializing in vulnerability management and continuous threat exposure assessment. Headquartered in Columbia, Maryland, Tenable was founded in 2002 by Ron Gula and Jack Huffard to address the growing need for proactive network security solutions. Over the years, the company has evolved from a pioneer in open-source vulnerability scanning to a leading provider of comprehensive security platforms that help organizations identify, investigate and prioritize cyber risks across on-premises, cloud and operational technology environments.

At the core of Tenable’s product suite is Nessus, one of the industry’s most widely adopted vulnerability scanners.