Morgan Stanley Issues Pessimistic Forecast for Tenable (NASDAQ:TENB) Stock Price

Tenable (NASDAQ:TENB - Free Report) had its price target trimmed by Morgan Stanley from $40.00 to $30.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other brokerages have also recently weighed in on TENB. Needham & Company LLC reiterated a "buy" rating and set a $50.00 price target on shares of Tenable in a research report on Thursday, February 6th. Scotiabank boosted their target price on Tenable from $44.00 to $45.00 and gave the stock a "sector perform" rating in a research report on Tuesday, January 21st. Stifel Nicolaus cut Tenable from a "buy" rating to a "hold" rating and lowered their price target for the company from $46.00 to $45.00 in a report on Friday, January 17th. Truist Financial dropped their price target on Tenable from $48.00 to $45.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Finally, Stephens started coverage on shares of Tenable in a research note on Tuesday, April 1st. They issued an "equal weight" rating and a $42.00 target price on the stock. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Tenable has an average rating of "Moderate Buy" and a consensus target price of $46.71.

Tenable Stock Performance

Shares of Tenable stock traded down $0.99 on Wednesday, reaching $30.45. 909,212 shares of the company traded hands, compared to its average volume of 969,334. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.28 and a quick ratio of 1.28. The firm has a market capitalization of $3.66 billion, a PE ratio of -101.50 and a beta of 0.88. The company has a 50 day moving average of $35.93 and a 200 day moving average of $39.49. Tenable has a 52 week low of $30.00 and a 52 week high of $49.18.

Tenable (NASDAQ:TENB - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.26). Tenable had a negative return on equity of 2.07% and a negative net margin of 4.03%. Equities analysts forecast that Tenable will post 0.12 earnings per share for the current year.

Insider Activity at Tenable

In related news, CEO Mark C. Thurmond sold 1,341 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $39.56, for a total value of $53,049.96. Following the completion of the sale, the chief executive officer now owns 41,266 shares of the company's stock, valued at $1,632,482.96. This trade represents a 3.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction of $92,500.00. Following the completion of the transaction, the director now owns 353 shares of the company's stock, valued at $13,061. This trade represents a 87.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,128 shares of company stock worth $539,256 in the last 90 days. Company insiders own 1.50% of the company's stock.

Institutional Investors Weigh In On Tenable

Several hedge funds have recently added to or reduced their stakes in TENB. Barclays PLC boosted its stake in 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 purchasing an additional 177,048 shares during the last quarter. Geode Capital Management LLC lifted its stake in Tenable by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,794,485 shares of the company's stock valued at $113,255,000 after acquiring an additional 33,303 shares during the period. Virtu Financial LLC purchased a new stake in shares of Tenable during the 3rd quarter valued at about $282,000. Tidal Investments LLC grew its stake in shares of Tenable by 19.4% in the third quarter. Tidal Investments LLC now owns 31,518 shares of the company's stock worth $1,277,000 after acquiring an additional 5,116 shares during the period. Finally, Franklin Resources Inc. lifted its position in Tenable by 7.3% during the third quarter. Franklin Resources Inc. now owns 448,586 shares of the company's stock valued at $18,984,000 after purchasing an additional 30,530 shares during the period. 89.06% of the stock is owned by institutional investors.

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.