Tenable (NASDAQ:TENB) Price Target Lowered to $50.00 at Robert W. Baird

Tenable (NASDAQ:TENB) had its price target decreased by Robert W. Baird from $53.00 to $50.00 in a report issued on Friday, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Several other brokerages have also commented on TENB. Canaccord Genuity Group cut their price target on Tenable from $57.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Barclays cut their target price on shares of Tenable from $57.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Baird R W raised shares of Tenable to a “strong-buy” rating in a research report on Monday, July 15th. Morgan Stanley dropped their price objective on shares of Tenable from $55.00 to $50.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company reduced their price objective on shares of Tenable from $60.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday, August 1st. Five investment 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 company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.38.

Tenable Price Performance

Tenable stock opened at $40.65 on Friday. 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 stock has a market cap of $4.84 billion, a price-to-earnings ratio of -72.59 and a beta of 0.83. The firm has a 50-day moving average of $40.87 and a two-hundred day moving average of $42.38. Tenable has a 1 year low of $33.85 and a 1 year high of $53.50.

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

Insiders Place Their Bets

In related news, CEO Amit Yoran sold 5,673 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $41.75, for a total value of $236,847.75. Following the completion of the transaction, the chief executive officer now directly owns 39,309 shares of the company’s stock, valued at $1,641,150.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Amit Yoran sold 5,673 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $41.75, for a total value of $236,847.75. Following the transaction, the chief executive officer now directly owns 39,309 shares of the company’s stock, valued at $1,641,150.75. This represents 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. Also, CFO Stephen A. Vintz sold 3,413 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 value of $142,492.75. Following the sale, the chief financial officer now directly owns 278,493 shares of the company’s stock, valued at approximately $11,627,082.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,469 shares of company stock valued at $520,276. 4.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tenable

Large investors have recently bought and sold shares of the company. Quest Partners LLC acquired a new stake in Tenable during the 2nd quarter valued at approximately $40,000. Fidelis Capital Partners LLC purchased a new position in shares of Tenable during the first quarter worth $58,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Tenable by 9.2% during 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 during the last quarter. Truvestments Capital LLC acquired a new position in Tenable during the first quarter valued at $189,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Tenable in the second quarter valued at $200,000. Hedge funds and other institutional investors 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.