Tenable (NASDAQ:TENB) Downgraded by Zacks Investment Research to Strong Sell
According to Zacks, “Tenable Holdings, Inc. is a provider of Cyber Exposure solutions, which is a discipline for managing and measuring cybersecurity risk in the digital era. Tenable’s enterprise software platform enables broad visibility into an organization’s cyber exposure across the modern attack surface and deep insights that help organizations translate technical data into business insights to understand and reduce their cybersecurity risk. “
Several other analysts also recently weighed in on the company. Barclays assumed coverage on Tenable in a research note on Monday, March 1st. They issued an overweight rating and a $54.00 price objective on the stock. The Goldman Sachs Group raised their price target on shares of Tenable from $41.00 to $57.00 and gave the company a buy rating in a research note on Friday, January 8th. Berenberg Bank cut shares of Tenable from a buy rating to a hold rating and upped their price objective for the stock from $43.00 to $51.00 in a research report on Monday, February 8th. Piper Sandler increased their price objective on shares of Tenable from $50.00 to $60.00 and gave the company an overweight rating in a research note on Tuesday, January 5th. Finally, Truist boosted their target price on shares of Tenable from $43.00 to $65.00 in a research note on Wednesday, January 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $50.73.
Tenable (NASDAQ:TENB) last posted its quarterly earnings results on Tuesday, February 2nd. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.07. Tenable had a negative net margin of 18.87% and a negative return on equity of 56.02%. The business had revenue of $118.08 million for the quarter, compared to analyst estimates of $114.59 million. During the same quarter last year, the business posted ($0.11) EPS. The firm’s revenue for the quarter was up 21.7% on a year-over-year basis. As a group, equities research analysts forecast that Tenable will post -0.47 EPS for the current fiscal year.
In other Tenable news, Director Arthur W. Coviello, Jr. sold 19,166 shares of the company’s stock in a transaction on Thursday, April 1st. The shares were sold at an average price of $37.23, for a total transaction of $713,550.18. Following the sale, the director now owns 33,406 shares of the company’s stock, valued at $1,243,705.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Stephen A. Vintz sold 131,483 shares of the stock in a transaction dated Tuesday, February 16th. The stock was sold at an average price of $44.98, for a total value of $5,914,105.34. Following the sale, the chief financial officer now owns 183,921 shares of the company’s stock, valued at $8,272,766.58. The disclosure for this sale can be found here. Insiders sold a total of 403,648 shares of company stock worth $19,201,290 in the last quarter. Corporate insiders own 16.40% of the company’s stock.
Several institutional investors have recently made changes to their positions in TENB. Select Equity Group L.P. grew its stake in Tenable by 16.7% during the fourth quarter. Select Equity Group L.P. now owns 5,323,543 shares of the company’s stock worth $278,208,000 after purchasing an additional 761,062 shares during the period. BlackRock Inc. increased its stake in shares of Tenable by 6.9% in the 4th quarter. BlackRock Inc. now owns 5,258,684 shares of the company’s stock valued at $274,820,000 after acquiring an additional 339,850 shares in the last quarter. Amundi Pioneer Asset Management Inc. increased its stake in shares of Tenable by 28.9% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 2,497,453 shares of the company’s stock valued at $130,517,000 after acquiring an additional 560,317 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Tenable by 36.4% during the 4th quarter. First Trust Advisors LP now owns 1,643,361 shares of the company’s stock valued at $85,882,000 after acquiring an additional 438,791 shares during the period. Finally, ETF Managers Group LLC boosted its stake in Tenable by 6.8% during the fourth quarter. ETF Managers Group LLC now owns 1,133,552 shares of the company’s stock worth $59,160,000 after acquiring an additional 72,471 shares in the last quarter. Institutional investors own 80.96% 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. The company's platforms include Tenable.io, a cloud-delivered software as a service; and Tenable.sc, an on-premises solution. Its platforms provides organizations with a risk-based view of traditional and modern attack surfaces to deliver a complete and continuous view of assets, associated vulnerabilities, internal and regulatory compliance violations, misconfigurations, and other cybersecurity issues, as well as prioritizes these issues for remediation based on risk assessment and predictive analytics, and provides insightful remediation guidance.
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