Needham & Company LLC Reaffirms "Buy" Rating for Tenable (NASDAQ:TENB)

Tenable (NASDAQ:TENB - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at Needham & Company LLC in a research note issued on Thursday,Benzinga reports. They currently have a $50.00 target price on the stock. Needham & Company LLC's price target points to a potential upside of 22.52% from the stock's previous close.

Several other research analysts have also recently issued reports on the company. Westpark Capital reissued a "hold" rating on shares of Tenable in a research note on Thursday, October 31st. Barclays reduced their price target on shares of Tenable from $49.00 to $45.00 and set an "equal weight" rating for the company in a research note on Thursday, October 31st. Scotiabank raised their price objective on shares of Tenable from $44.00 to $45.00 and gave the company a "sector perform" rating in a research note on Tuesday, January 21st. Piper Sandler dropped their price target on shares of Tenable from $55.00 to $50.00 and set an "overweight" rating on the stock in a research report on Thursday, October 31st. Finally, Stifel Nicolaus lowered shares of Tenable from a "buy" rating to a "hold" rating and reduced their price objective for the company from $46.00 to $45.00 in a research report on Friday, January 17th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Tenable currently has a consensus rating of "Moderate Buy" and an average target price of $49.67.

Tenable Stock Performance

Shares of Tenable stock traded up $0.58 during trading on Thursday, hitting $40.81. 737,875 shares of the stock were exchanged, compared to its average volume of 1,178,402. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.28 and a current ratio of 1.28. Tenable has a 12 month low of $35.25 and a 12 month high of $52.50. The stock's fifty day moving average is $41.38 and its 200 day moving average is $41.28. The stock has a market cap of $4.90 billion, a PE ratio of -136.04 and a beta of 0.87.

Tenable (NASDAQ:TENB - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.26). Tenable had a negative return on equity of 2.07% and a negative net margin of 4.03%. As a group, sell-side analysts anticipate that Tenable will post 0.18 EPS for the current year.

Insider Transactions at Tenable

In other Tenable news, CEO Amit Yoran sold 5,293 shares of the business's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $42.74, for a total value of $226,222.82. Following the completion of the sale, the chief executive officer now owns 51,691 shares of the company's stock, valued at $2,209,273.34. The trade was a 9.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Raymond Jr. Vicks sold 809 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $38.52, for a total value of $31,162.68. Following the transaction, the director now directly owns 8,659 shares in the company, valued at approximately $333,544.68. This represents a 8.54 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,463 shares of company stock valued at $894,042. 4.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Tenable

Hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its holdings in shares of Tenable by 1.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 68,192 shares of the company's stock worth $2,972,000 after purchasing an additional 858 shares during the period. Creative Planning increased its stake in shares of Tenable by 12.1% in the second quarter. Creative Planning now owns 9,541 shares of the company's stock valued at $416,000 after buying an additional 1,031 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Tenable during the third quarter worth $1,277,000. Handelsbanken Fonder AB lifted its position in Tenable by 14.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 27,100 shares of the company's stock valued at $1,098,000 after purchasing an additional 3,400 shares during the period. Finally, Fulton Bank N.A. boosted its holdings in Tenable by 5.7% during the third quarter. Fulton Bank N.A. now owns 8,202 shares of the company's stock worth $332,000 after buying an additional 443 shares during the last quarter. 89.06% of the stock is owned by institutional investors and hedge funds.

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.