DA Davidson Has Positive Outlook for Tenable FY2024 Earnings

Tenable Holdings, Inc. (NASDAQ:TENB) – Equities research analysts at DA Davidson upped their FY2024 EPS estimates for shares of Tenable in a research report issued on Thursday, October 31st. DA Davidson analyst R. Kessinger now anticipates that the company will post earnings of ($0.02) per share for the year, up from their prior estimate of ($0.07). DA Davidson has a “Neutral” rating and a $40.00 price objective on the stock. The consensus estimate for Tenable’s current full-year earnings is ($0.05) per share. DA Davidson also issued estimates for Tenable’s Q4 2024 earnings at ($0.02) EPS.

A number of other analysts also recently issued reports on TENB. Wells Fargo & Company reduced their price objective on Tenable from $60.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Barclays decreased their price target on shares of Tenable from $49.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Piper Sandler dropped their price objective on shares of Tenable from $55.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Stifel Nicolaus decreased their target price on shares of Tenable from $54.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Finally, Westpark Capital reiterated a “hold” rating on shares of Tenable in a research report on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $50.81.

Tenable Trading Up 0.8 %

Shares of TENB stock opened at $39.01 on Monday. The stock’s 50-day moving average price is $40.62 and its 200-day moving average price is $42.07. Tenable has a 12-month low of $35.25 and a 12-month high of $53.50. The stock has a market capitalization of $4.65 billion, a price-to-earnings ratio of -76.49 and a beta of 0.83. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.98.

Insider Transactions at Tenable

In other Tenable news, CFO Stephen A. Vintz sold 3,413 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $41.75, for a total transaction of $142,492.75. Following the transaction, the chief financial officer now owns 278,493 shares of the company’s stock, valued at approximately $11,627,082.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Tenable news, COO Mark C. Thurmond sold 3,383 shares of Tenable stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $41.66, for a total value of $140,935.78. Following the transaction, the chief operating officer now owns 34,079 shares in the company, valued at $1,419,731.14. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stephen A. Vintz sold 3,413 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $41.75, for a total transaction of $142,492.75. Following the completion of the sale, the chief financial officer now owns 278,493 shares in the company, valued at $11,627,082.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,469 shares of company stock valued at $520,276. 4.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Tenable

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. lifted its stake in shares of Tenable by 1.8% during the second quarter. Principal Financial Group Inc. now owns 15,930 shares of the company’s stock worth $694,000 after buying an additional 276 shares during the period. Covestor Ltd grew its stake in Tenable by 84.5% during the 3rd quarter. Covestor Ltd now owns 631 shares of the company’s stock valued at $26,000 after purchasing an additional 289 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Tenable by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,708 shares of the company’s stock valued at $183,000 after purchasing an additional 312 shares during the period. Xponance Inc. raised its stake in shares of Tenable by 5.5% in the second quarter. Xponance Inc. now owns 7,441 shares of the company’s stock worth $324,000 after purchasing an additional 389 shares during the last quarter. Finally, Fulton Bank N.A. raised its position in Tenable by 5.7% during the 3rd 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. 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.