Tenable (NASDAQ:TENB) Issues FY 2024 Earnings Guidance

Tenable (NASDAQ:TENB) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share guidance of 1.210-1.230 for the period, compared to the consensus earnings per share estimate of 1.220. The company issued revenue guidance of $893.3 million-$897.3 million, compared to the consensus revenue estimate of $896.0 million. Tenable also updated its Q4 2024 guidance to 0.330-0.350 EPS.

Tenable Trading Up 0.3 %

Shares of NASDAQ:TENB opened at $39.08 on Monday. Tenable has a 52 week low of $35.25 and a 52 week high of $53.50. The company’s 50 day moving average is $41.28 and its two-hundred day moving average is $41.51. The company has a market cap of $4.69 billion, a PE ratio of -76.63 and a beta of 0.83. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.88.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Piper Sandler cut their price target on Tenable from $55.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Robert W. Baird cut their target price on Tenable from $53.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Westpark Capital reaffirmed a “hold” rating on shares of Tenable in a report on Thursday, October 31st. Morgan Stanley reissued an “equal weight” rating and set a $47.00 price objective (down previously from $50.00) on shares of Tenable in a report on Monday, December 2nd. Finally, Barclays lowered their target price on shares of Tenable from $49.00 to $45.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $50.63.

Insider Buying and Selling at Tenable

In other Tenable news, CEO Amit Yoran sold 5,293 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 $226,222.82. Following the completion of the transaction, the chief executive officer now owns 51,691 shares in the company, valued at approximately $2,209,273.34. This represents a 9.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Mark C. Thurmond sold 2,209 shares of Tenable stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $40.72, for a total transaction of $89,950.48. Following the completion of the sale, the chief operating officer now directly owns 35,480 shares in the company, valued at approximately $1,444,745.60. The trade was a 5.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,654 shares of company stock valued at $862,879 in the last ninety days. Insiders own 4.30% 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.