Tenable (NASDAQ:TENB) Price Target Cut to $50.00

Tenable (NASDAQ:TENB - Free Report) had its price objective lowered by Robert W. Baird from $53.00 to $50.00 in a research report released on Friday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other research firms have also commented on TENB. Needham & Company LLC restated a "buy" rating and set a $50.00 price target on shares of Tenable in a research report on Friday, September 13th. Stifel Nicolaus reduced their price target on Tenable from $54.00 to $52.00 and set a "buy" rating for the company in a report on Thursday, August 1st. Westpark Capital lowered Tenable from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 1st. Truist Financial restated a "buy" rating and issued a $55.00 price objective (down from $60.00) on shares of Tenable in a research report on Thursday, August 1st. Finally, DA Davidson cut shares of Tenable from a "buy" rating to a "neutral" rating and dropped their price target for the company from $56.00 to $40.00 in a research note on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $51.38.

Tenable Stock Performance

NASDAQ TENB traded up $0.71 on Friday, hitting $41.63. 784,183 shares of the company's stock traded hands, compared to its average volume of 899,557. The firm has a market capitalization of $4.95 billion, a PE ratio of -71.78 and a beta of 0.83. Tenable has a 1-year low of $33.85 and a 1-year high of $53.50. The firm's 50-day moving average price is $40.87 and its two-hundred day moving average price is $42.47. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.98.

Tenable (NASDAQ:TENB - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.05) earnings per share for the quarter, beating analysts' consensus estimates of ($0.08) by $0.03. The business had revenue of $221.24 million during the quarter, compared to analyst estimates of $218.41 million. Tenable had a negative return on equity of 7.63% and a negative net margin of 7.77%. As a group, analysts expect that Tenable will post -0.06 EPS for the current year.

Insider Activity

In other news, CFO Stephen A. Vintz sold 3,413 shares of Tenable stock in a transaction on Monday, August 26th. The stock was sold at an average price of $41.75, for a total transaction of $142,492.75. Following the transaction, the chief financial officer now owns 278,493 shares in the company, valued at $11,627,082.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Tenable news, COO Mark C. Thurmond sold 3,383 shares of Tenable stock in a transaction on Monday, August 26th. The stock was sold at an average price of $41.66, for a total value of $140,935.78. Following the sale, the chief operating officer now owns 34,079 shares in the company, valued at $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 Securities & Exchange Commission, which is available through the SEC website. Also, CFO Stephen A. Vintz sold 3,413 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $41.75, for a total value of $142,492.75. Following the transaction, the chief financial officer now owns 278,493 shares of the company's stock, valued at approximately $11,627,082.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,469 shares of company stock worth $2,429,076 over the last ninety days. Corporate insiders own 4.30% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TENB. Champlain Investment Partners LLC lifted its holdings in shares of Tenable by 59.5% in the 1st quarter. Champlain Investment Partners LLC now owns 1,591,147 shares of the company's stock worth $78,650,000 after acquiring an additional 593,529 shares during the last quarter. William Blair Investment Management LLC grew its stake in shares of Tenable by 20.2% in the first quarter. William Blair Investment Management LLC now owns 3,491,301 shares of the company's stock valued at $172,575,000 after buying an additional 585,559 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of Tenable by 12.7% in the 2nd quarter. Mackenzie Financial Corp now owns 4,191,935 shares of the company's stock valued at $182,685,000 after buying an additional 471,126 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Tenable by 37.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 719,012 shares of the company's stock valued at $31,335,000 after buying an additional 196,810 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in Tenable during the 2nd quarter worth about $7,740,000. Institutional investors and hedge funds 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.