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

Tenable (NASDAQ:TENB)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a report issued on Friday, Benzinga reports. They presently have a $50.00 target price on the stock. Needham & Company LLC’s target price indicates a potential upside of 25.82% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Barclays reduced their price target on Tenable from $57.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Westpark Capital downgraded shares of Tenable from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. Canaccord Genuity Group lowered their price target on shares of Tenable from $57.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Stifel Nicolaus reduced their price objective on shares of Tenable from $54.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Finally, Baird R W raised shares of Tenable to a “strong-buy” rating in a research note on Monday, July 15th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $52.81.

Tenable Stock Up 0.6 %

Shares of NASDAQ TENB opened at $39.74 on Friday. The company has a 50 day simple moving average of $41.94 and a 200 day simple moving average of $43.86. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.21 and a quick ratio of 1.21. Tenable has a 1 year low of $33.85 and a 1 year high of $53.50. The firm has a market cap of $4.72 billion, a PE ratio of -68.52 and a beta of 0.83.

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 the consensus estimate of ($0.08) by $0.03. The firm had revenue of $221.24 million during the quarter, compared to analysts’ expectations of $218.41 million. Tenable had a negative net margin of 7.77% and a negative return on equity of 7.63%. On average, research analysts forecast that Tenable will post -0.06 EPS for the current year.

Insider Buying and Selling

In other news, CEO Amit Yoran sold 5,673 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $41.75, for a total transaction of $236,847.75. Following the completion of the sale, the chief executive officer now owns 39,309 shares in the company, valued at $1,641,150.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, COO Mark C. Thurmond sold 3,383 shares of the firm’s stock in a transaction that occurred on 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 sale, the chief executive officer now owns 39,309 shares of the company’s stock, valued at approximately $1,641,150.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,469 shares of company stock valued at $2,429,076. 4.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tenable

A number of hedge funds have recently bought and sold shares of the company. Principal Securities Inc. bought a new stake in Tenable in the fourth quarter worth about $35,000. Quest Partners LLC bought a new stake in Tenable during the second quarter valued at $40,000. Fidelis Capital Partners LLC purchased a new position in Tenable during the first quarter worth about $58,000. Verity & Verity LLC purchased a new position in Tenable during the first quarter worth about $127,000. Finally, Allspring Global Investments Holdings LLC increased its stake in Tenable by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,708 shares of the company’s stock worth $183,000 after acquiring an additional 312 shares during the last quarter. 89.06% of the stock is owned by hedge funds and other institutional investors.

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.