Tenable's (TENB) "Buy" Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Tenable (NASDAQ:TENB - Free Report) in a research report released on Monday morning,Benzinga reports. The firm currently has a $50.00 price objective on the stock.

Several other equities analysts have also issued reports on the company. Jefferies Financial Group lifted their price target on Tenable from $40.00 to $45.00 and gave the stock a "hold" rating in a research report on Thursday, December 19th. Morgan Stanley reiterated an "equal weight" rating and issued a $47.00 target price (down previously from $50.00) on shares of Tenable in a research note on Monday, December 2nd. Piper Sandler reduced their price target on shares of Tenable from $55.00 to $50.00 and set an "overweight" rating for the company in a research report on Thursday, October 31st. Barclays lowered their price objective on Tenable from $49.00 to $45.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 31st. Finally, Robert W. Baird reduced their target price on Tenable from $53.00 to $50.00 and set an "outperform" rating for the company in a report on Friday, October 25th. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Tenable presently has a consensus rating of "Moderate Buy" and a consensus target price of $50.63.

Tenable Stock Up 2.8 %

Shares of TENB traded up $1.09 during mid-day trading on Monday, reaching $40.17. The company had a trading volume of 874,013 shares, compared to its average volume of 732,338. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.28 and a current ratio of 1.28. The company has a market capitalization of $4.83 billion, a price-to-earnings ratio of -78.76 and a beta of 0.85. The firm has a 50-day moving average price of $41.27 and a 200 day moving average price of $41.53. Tenable has a 52 week low of $35.25 and a 52 week high of $53.50.

Insider Activity at Tenable

In other Tenable news, CFO Stephen A. Vintz sold 2,801 shares of the business's stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $40.72, for a total transaction of $114,056.72. Following the completion of the sale, the chief financial officer now owns 281,536 shares of the company's stock, valued at approximately $11,464,145.92. The trade was a 0.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Mark C. Thurmond sold 2,209 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 $89,950.48. Following the completion of the sale, the chief operating officer now owns 35,480 shares of the company's stock, valued at approximately $1,444,745.60. The trade was a 5.86 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,654 shares of company stock worth $862,879. 4.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tenable

Several large investors have recently added to or reduced their stakes in the company. State Street Corp raised its position in shares of Tenable by 2.6% during the 3rd quarter. State Street Corp now owns 2,913,580 shares of the company's stock valued at $118,058,000 after purchasing an additional 73,293 shares during the period. Geode Capital Management LLC raised its holdings in Tenable by 1.2% during the third 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. Fiera Capital Corp purchased a new position in shares of Tenable in the third quarter valued at about $2,494,000. Centiva Capital LP bought a new position in shares of Tenable in the third quarter worth about $608,000. Finally, Barclays PLC grew its position in shares of Tenable by 31.9% during the third quarter. Barclays PLC now owns 731,626 shares of the company's stock worth $29,646,000 after purchasing an additional 177,048 shares in the last quarter. Hedge funds and other institutional investors own 89.06% of the company's stock.

About Tenable

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.