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

Tenable (NASDAQ:TENB)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a note issued to investors on Monday,Benzinga reports. They presently have a $50.00 target price on the stock. Needham & Company LLC’s price objective suggests a potential upside of 27.94% from the company’s previous close.

A number of other analysts have also issued reports on TENB. Westpark Capital reissued a “hold” rating on shares of Tenable in a research report on Thursday, October 31st. Jefferies Financial Group upped their price objective on shares of Tenable from $40.00 to $45.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. Piper Sandler lowered their price target on shares of Tenable from $55.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Barclays dropped 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. Finally, Morgan Stanley restated an “equal weight” rating and issued a $47.00 target price (down previously from $50.00) on shares of Tenable in a research note on Monday, December 2nd. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.63.

Tenable Stock Up 0.3 %

NASDAQ:TENB opened at $39.08 on Monday. The business’s fifty day moving average price is $41.28 and its 200 day moving average price is $41.51. The firm has a market capitalization of $4.69 billion, a price-to-earnings ratio of -76.63 and a beta of 0.85. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.88. Tenable has a 1-year low of $35.25 and a 1-year high of $53.50.

Insider Buying and Selling at Tenable

In related news, COO Mark C. Thurmond sold 2,343 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $42.74, for a total transaction of $100,139.82. Following the completion of the transaction, the chief operating officer now directly owns 37,188 shares in the company, valued at $1,589,415.12. This represents a 5.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Stephen A. Vintz sold 2,801 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $40.72, for a total transaction of $114,056.72. Following the completion of the sale, the chief financial officer now directly owns 281,536 shares of the company’s stock, valued at approximately $11,464,145.92. This trade represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,654 shares of company stock worth $862,879 over the last ninety days. Company insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Principal Financial Group Inc. increased its stake in Tenable by 1.8% during the second quarter. Principal Financial Group Inc. now owns 15,930 shares of the company’s stock valued at $694,000 after acquiring an additional 276 shares during the period. Covestor Ltd increased its position in shares of Tenable by 84.5% during the third quarter. Covestor Ltd now owns 631 shares of the company’s stock valued at $26,000 after purchasing an additional 289 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 valued at $324,000 after purchasing an additional 389 shares in the last quarter. Fulton Bank N.A. lifted its position in Tenable by 5.7% in the third quarter. Fulton Bank N.A. now owns 8,202 shares of the company’s stock worth $332,000 after purchasing an additional 443 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Tenable by 0.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,281 shares of the company’s stock worth $2,118,000 after buying an additional 457 shares in the last quarter. Institutional investors and hedge funds 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.