Scotiabank Has Optimistic Outlook of Tenable FY2024 Earnings

Tenable Holdings, Inc. (NASDAQ:TENB) – Stock analysts at Scotiabank increased their FY2024 earnings per share (EPS) estimates for shares of Tenable in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst P. Colville now forecasts that the company will post earnings per share of ($0.02) for the year, up from their previous estimate of ($0.06). The consensus estimate for Tenable’s current full-year earnings is ($0.02) per share. Scotiabank also issued estimates for Tenable’s FY2025 earnings at $0.10 EPS.

A number of other equities research analysts also recently weighed in on TENB. Robert W. Baird cut their price target on shares of Tenable from $53.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Piper Sandler reduced their target price on shares of Tenable from $55.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Barclays dropped their price target on Tenable from $49.00 to $45.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Jefferies Financial Group raised their price objective on Tenable from $40.00 to $45.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $47.00 target price (down from $50.00) on shares of Tenable in a research report on Monday, December 2nd. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $50.63.

Tenable Trading Down 1.0 %

Shares of Tenable stock opened at $38.49 on Friday. The business has a fifty day simple moving average of $41.16 and a 200-day simple moving average of $41.49. The firm has a market cap of $4.62 billion, a price-to-earnings ratio of -75.47 and a beta of 0.85. Tenable has a fifty-two week low of $35.25 and a fifty-two week high of $53.50. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.88.

Hedge Funds Weigh In On Tenable

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Covestor Ltd increased its holdings in shares of Tenable by 84.5% during the 3rd quarter. Covestor Ltd now owns 631 shares of the company’s stock valued at $26,000 after acquiring an additional 289 shares during the last quarter. Larson Financial Group LLC grew its holdings in Tenable by 658.6% during the third quarter. Larson Financial Group LLC now owns 751 shares of the company’s stock valued at $30,000 after purchasing an additional 652 shares during the last quarter. Quest Partners LLC bought a new position in shares of Tenable in the second quarter valued at approximately $40,000. Truvestments Capital LLC acquired a new stake in shares of Tenable in the third quarter worth $171,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Tenable during the 2nd quarter worth $200,000. Institutional investors own 89.06% of the company’s stock.

Insider Buying and Selling at Tenable

In other news, CEO Amit Yoran sold 4,828 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $40.72, for a total transaction of $196,596.16. Following the completion of the sale, the chief executive officer now directly owns 45,171 shares of the company’s stock, valued at $1,839,363.12. This trade represents a 9.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Mark C. Thurmond sold 2,343 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $42.74, for a total value of $100,139.82. Following the completion of the sale, the chief operating officer now directly owns 37,188 shares of the company’s stock, valued at approximately $1,589,415.12. The trade was a 5.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,463 shares of company stock valued at $894,042 in the last 90 days. 4.30% of the stock is currently owned by corporate insiders.

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.