Tenable (NASDAQ:TENB) Updates Q4 2024 Earnings Guidance

Tenable (NASDAQ:TENB) updated its fourth quarter 2024 earnings guidance on Monday. The company provided EPS guidance of 0.330-0.350 for the period, compared to the consensus EPS estimate of 0.340. The company issued revenue guidance of $229.0 million-$233.0 million, compared to the consensus revenue estimate of $231.8 million. Tenable also updated its FY 2024 guidance to 1.210-1.230 EPS.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Barclays cut their price target on Tenable from $49.00 to $45.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Robert W. Baird reduced their target price on shares of Tenable from $53.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Westpark Capital reiterated a “hold” rating on shares of Tenable in a research report on Thursday, October 31st. Needham & Company LLC restated a “buy” rating and issued a $50.00 target price on shares of Tenable in a research report on Tuesday, October 29th. Finally, Piper Sandler reduced their price target on Tenable from $55.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $50.63.

Tenable Price Performance

TENB opened at $39.08 on Monday. The firm has a market capitalization of $4.69 billion, a P/E ratio of -76.63 and a beta of 0.83. The stock has a fifty day moving average of $41.28 and a 200-day moving average of $41.51. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.88. Tenable has a 12-month low of $35.25 and a 12-month high of $53.50.

Insider Buying and Selling

In other news, COO Mark C. Thurmond sold 2,209 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $40.72, for a total value of $89,950.48. Following the transaction, the chief operating officer now directly owns 35,480 shares of the company’s stock, valued at approximately $1,444,745.60. This represents a 5.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Amit Yoran sold 4,828 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $40.72, for a total value of $196,596.16. Following the sale, the chief executive officer now owns 45,171 shares of the company’s stock, valued at approximately $1,839,363.12. This trade represents a 9.66 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,654 shares of company stock valued at $862,879. 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.