Scotiabank Has Optimistic Outlook of Tenable FY2024 Earnings

Tenable Holdings, Inc. (NASDAQ:TENB - Free Report) - Equities researchers at Scotiabank raised their FY2024 earnings per share estimates for Tenable in a report issued on Wednesday, January 8th. Scotiabank analyst P. Colville now anticipates that the company will post earnings of ($0.02) per share for the year, up from their prior estimate of ($0.06). The consensus estimate for Tenable's current full-year earnings is ($0.02) per share. Scotiabank also issued estimates for Tenable's FY2025 earnings at $0.10 EPS.

Several other analysts have also recently commented on TENB. Robert W. Baird reduced their target price on shares of Tenable from $53.00 to $50.00 and set an "outperform" rating for the company in a research note on Friday, October 25th. Piper Sandler reduced their price objective 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 report on Thursday, October 31st. Jefferies Financial Group lifted their price target on Tenable from $40.00 to $45.00 and gave the company a "hold" rating in a research note on Thursday, December 19th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $50.00 price objective on shares of Tenable in a research report on Monday. 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 MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $50.63.

Tenable Stock Performance

NASDAQ:TENB traded down $0.40 during midday trading on Friday, reaching $38.49. The stock had a trading volume of 729,885 shares, compared to its average volume of 795,814. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.88. The stock has a market cap of $4.62 billion, a P/E ratio of -75.47 and a beta of 0.85. The firm has a fifty day simple moving average of $41.16 and a two-hundred day simple moving average of $41.49. Tenable has a 12-month low of $35.25 and a 12-month high of $53.50.

Insider Activity

In related news, CFO Stephen A. Vintz sold 2,801 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $40.72, for a total transaction of $114,056.72. Following the sale, the chief financial officer now owns 281,536 shares of the company's stock, valued at $11,464,145.92. This trade represents a 0.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Amit Yoran sold 4,828 shares of the business's stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $40.72, for a total transaction of $196,596.16. Following the completion of the transaction, the chief executive officer now directly owns 45,171 shares of the company's stock, valued at $1,839,363.12. The trade was a 9.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,463 shares of company stock worth $894,042 over the last ninety days. 4.30% of the stock is currently owned by insiders.

Institutional Trading of Tenable

A number of hedge funds have recently bought and sold shares of TENB. State Street Corp lifted its stake 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 worth $118,058,000 after purchasing an additional 73,293 shares during the period. Geode Capital Management LLC lifted its position in Tenable by 1.2% during the third quarter. Geode Capital Management LLC now owns 2,794,485 shares of the company's stock worth $113,255,000 after buying an additional 33,303 shares during the period. Fiera Capital Corp purchased a new stake in Tenable in the 3rd quarter valued at about $2,494,000. Nordea Investment Management AB increased its stake in shares of Tenable by 10.4% during the 4th quarter. Nordea Investment Management AB now owns 267,519 shares of the company's stock valued at $10,489,000 after acquiring an additional 25,247 shares during the last quarter. Finally, Centiva Capital LP purchased a new position in shares of Tenable during the 3rd quarter worth about $608,000. Institutional investors and hedge funds 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.