Tenable (NASDAQ:TENB) Coverage Initiated at Cantor Fitzgerald

Investment analysts at Cantor Fitzgerald started coverage on shares of Tenable (NASDAQ:TENB) in a note issued to investors on Monday, MarketBeat.com reports. The brokerage set an “overweight” rating and a $50.00 price target on the stock. Cantor Fitzgerald’s price objective suggests a potential upside of 42.17% from the stock’s previous close.

A number of other brokerages also recently commented on TENB. Scotiabank raised their price objective on shares of Tenable from $44.00 to $45.00 and gave the company a “sector perform” rating in a research report on Tuesday, January 21st. Jefferies Financial Group raised their price target on Tenable from $40.00 to $45.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th. Stifel Nicolaus downgraded shares of Tenable from a “buy” rating to a “hold” rating and reduced their price objective for the company from $46.00 to $45.00 in a research note on Friday, January 17th. Morgan Stanley initiated coverage on Tenable in a report on Tuesday, March 18th. They issued an “equal weight” rating and a $40.00 price target for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 target price on shares of Tenable in a research report on Thursday, February 6th. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.76.

Tenable Trading Up 0.5 %

NASDAQ TENB opened at $35.17 on Monday. The firm has a market cap of $4.23 billion, a price-to-earnings ratio of -117.23 and a beta of 0.87. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.28 and a current ratio of 1.28. Tenable has a one year low of $33.84 and a one year high of $50.07. The firm has a 50 day simple moving average of $38.91 and a 200-day simple moving average of $40.28.

Tenable (NASDAQ:TENB) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.26). Tenable had a negative return on equity of 2.07% and a negative net margin of 4.03%. Equities research analysts anticipate that Tenable will post 0.12 EPS for the current fiscal year.

Insider Activity at Tenable

In other news, Director Linda Kay Zecher sold 2,500 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $37.00, for a total value of $92,500.00. Following the completion of the transaction, the director now owns 353 shares of the company’s stock, valued at $13,061. The trade was a 87.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Raymond Jr. Vicks sold 809 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $38.52, for a total transaction of $31,162.68. Following the sale, the director now directly owns 8,659 shares of the company’s stock, valued at $333,544.68. This represents a 8.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,937 shares of company stock valued at $570,418 over the last quarter. 4.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Tenable in the fourth quarter valued at about $54,950,000. Shapiro Capital Management LLC grew its position in Tenable by 647.5% in the fourth quarter. Shapiro Capital Management LLC now owns 1,060,055 shares of the company’s stock valued at $41,745,000 after acquiring an additional 918,235 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Tenable by 5.3% in the fourth quarter. Vanguard Group Inc. now owns 13,947,023 shares of the company’s stock worth $549,234,000 after acquiring an additional 708,249 shares during the last quarter. Readystate Asset Management LP bought a new stake in shares of Tenable during the 3rd quarter valued at approximately $24,660,000. Finally, Assenagon Asset Management S.A. bought a new position in Tenable in the 4th quarter valued at approximately $15,653,000. 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.