Tenable (NASDAQ:TENB) Given New $50.00 Price Target at Morgan Stanley

Tenable (NASDAQ:TENB) had its price objective reduced by Morgan Stanley from $55.00 to $50.00 in a research note released on Wednesday, Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

A number of other equities research analysts also recently issued reports on TENB. Needham & Company LLC reissued a “buy” rating and set a $50.00 price target on shares of Tenable in a research report on Friday, September 13th. Wells Fargo & Company dropped their price target on Tenable from $60.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday, August 1st. Truist Financial reiterated a “buy” rating and set a $55.00 price objective (down from $60.00) on shares of Tenable in a research note on Thursday, August 1st. Robert W. Baird dropped their target price on shares of Tenable from $55.00 to $53.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. Finally, Susquehanna reduced their price target on shares of Tenable from $60.00 to $48.00 and set a “positive” rating on the stock in a research report on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Tenable presently has an average rating of “Moderate Buy” and a consensus target price of $51.56.

Tenable Stock Performance

Shares of NASDAQ TENB opened at $40.34 on Wednesday. Tenable has a one year low of $33.85 and a one year high of $53.50. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a market cap of $4.80 billion, a price-to-earnings ratio of -69.55 and a beta of 0.83. The stock’s fifty day moving average price is $40.90 and its two-hundred day moving average price is $42.53.

Tenable (NASDAQ:TENB) last released its quarterly earnings results on Wednesday, July 31st. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. Tenable had a negative net margin of 7.77% and a negative return on equity of 7.63%. The business had revenue of $221.24 million for the quarter, compared to analyst estimates of $218.41 million. On average, equities analysts forecast that Tenable will post -0.06 EPS for the current year.

Insider Activity at Tenable

In other Tenable news, CEO Amit Yoran sold 5,673 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $41.75, for a total transaction of $236,847.75. Following the sale, the chief executive officer now directly owns 39,309 shares of the company’s stock, valued at $1,641,150.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Tenable news, CEO Amit Yoran sold 5,673 shares of Tenable stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $41.75, for a total transaction of $236,847.75. Following the transaction, the chief executive officer now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Mark C. Thurmond sold 3,383 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $41.66, for a total value of $140,935.78. Following the completion of the sale, the chief operating officer now directly owns 34,079 shares of the company’s stock, valued at approximately $1,419,731.14. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,469 shares of company stock worth $2,429,076 in the last quarter. 4.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Tenable

Institutional investors have recently modified their holdings of the company. Quest Partners LLC bought a new stake in Tenable during the second quarter valued at $40,000. Fidelis Capital Partners LLC acquired a new stake in Tenable during the first quarter worth approximately $58,000. Allspring Global Investments Holdings LLC increased its holdings in Tenable by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,708 shares of the company’s stock worth $183,000 after purchasing an additional 312 shares in the last quarter. Truvestments Capital LLC acquired a new position in Tenable in the first quarter valued at approximately $189,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Tenable during the 2nd quarter worth approximately $200,000. 89.06% of the stock is owned by institutional investors.

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.