DA Davidson Has Positive Outlook of Tenable FY2024 Earnings

Tenable Holdings, Inc. (NASDAQ:TENB - Free Report) - DA Davidson upped their FY2024 EPS estimates for Tenable in a report released on Thursday, October 31st. DA Davidson analyst R. Kessinger now forecasts that the company will earn ($0.02) per share for the year, up from their prior forecast of ($0.07). DA Davidson currently has a "Neutral" rating and a $40.00 target price on the stock. The consensus estimate for Tenable's current full-year earnings is ($0.06) per share. DA Davidson also issued estimates for Tenable's Q4 2024 earnings at ($0.02) EPS.

TENB has been the subject of a number of other research reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $50.00 price objective on shares of Tenable in a research note on Tuesday, October 29th. Morgan Stanley cut their price objective on shares of Tenable from $55.00 to $50.00 and set an "overweight" rating for the company in a report on Wednesday, October 23rd. Piper Sandler reduced their price objective on shares of Tenable from $55.00 to $50.00 and set an "overweight" rating on the stock in a research report on Thursday. Baird R W upgraded shares of Tenable to a "strong-buy" rating in a research report on Monday, July 15th. Finally, Truist Financial reiterated a "buy" rating and issued a $55.00 price target (down from $60.00) on shares of Tenable in a report on Thursday, August 1st. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $50.81.

Tenable Price Performance

Tenable stock traded down $0.07 during mid-day trading on Monday, hitting $38.71. The stock had a trading volume of 1,299,018 shares, compared to its average volume of 915,668. Tenable has a one year low of $35.25 and a one year high of $53.50. 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 firm has a market capitalization of $4.61 billion, a P/E ratio of -75.90 and a beta of 0.83. The firm's 50 day moving average is $40.71 and its 200 day moving average is $42.15.

Insider Activity at Tenable

In other Tenable news, CFO Stephen A. Vintz sold 3,413 shares of Tenable stock in a transaction on Monday, August 26th. The shares were sold at an average price of $41.75, for a total transaction of $142,492.75. Following the completion of the transaction, the chief financial officer now directly owns 278,493 shares of the company's stock, valued at $11,627,082.75. 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 Tenable news, CFO Stephen A. Vintz sold 3,413 shares of the firm's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $41.75, for a total value of $142,492.75. Following the completion of the sale, the chief financial officer now owns 278,493 shares of the company's stock, valued at $11,627,082.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Amit Yoran sold 5,673 shares of the business's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $41.75, for a total value of $236,847.75. Following the transaction, the chief executive officer now owns 39,309 shares of the company's stock, valued at approximately $1,641,150.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,469 shares of company stock worth $520,276. Company insiders own 4.30% of the company's stock.

Institutional Investors Weigh In On Tenable

Several large investors have recently modified their holdings of the business. Tidal Investments LLC grew its holdings in Tenable by 157.8% in 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 during the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in Tenable by 21.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 352,468 shares of the company's stock worth $17,408,000 after acquiring an additional 61,080 shares during the period. ProShare Advisors LLC raised its position in Tenable by 10.1% during 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 lifted 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 during the period. Finally, Bayesian Capital Management LP purchased a new stake in Tenable in the 1st quarter worth approximately $1,310,000. Institutional investors own 89.06% 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.