Tenable (NASDAQ:TENB) Upgraded by Berenberg Bank to Buy

Tenable (NASDAQ:TENB) was upgraded by stock analysts at Berenberg Bank from a “hold” rating to a “buy” rating in a report released on Friday, Price Targets.com reports. The brokerage currently has a $55.00 price objective on the stock. Berenberg Bank’s price objective indicates a potential upside of 14.16% from the stock’s previous close.

TENB has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Tenable from a “sell” rating to a “hold” rating in a report on Wednesday, June 30th. Needham & Company LLC reiterated a “buy” rating and set a $58.00 price objective (up from $51.00) on shares of Tenable in a report on Wednesday, July 28th. FBN Securities assumed coverage on shares of Tenable in a report on Wednesday, August 25th. They set an “outperform” rating and a $60.00 price objective for the company. Barclays raised their price target on shares of Tenable from $54.00 to $56.00 and gave the company an “overweight” rating in a research report on Wednesday, July 28th. Finally, Summit Insights reissued a “buy” rating on shares of Tenable in a research report on Tuesday, July 27th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $58.00.

NASDAQ:TENB opened at $48.18 on Friday. The stock has a market capitalization of $5.13 billion, a price-to-earnings ratio of -185.31 and a beta of 1.69. The firm has a fifty day simple moving average of $44.35 and a two-hundred day simple moving average of $41.70. Tenable has a 12 month low of $33.25 and a 12 month high of $58.45.

Tenable (NASDAQ:TENB) last issued its quarterly earnings data on Tuesday, July 27th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.04. The firm had revenue of $130.26 million during the quarter, compared to analysts’ expectations of $125.53 million. Tenable had a negative net margin of 5.62% and a negative return on equity of 11.68%. The business’s revenue was up 21.5% on a year-over-year basis. During the same period last year, the company earned $0.04 earnings per share. On average, research analysts forecast that Tenable will post -0.48 EPS for the current year.

In other Tenable news, General Counsel Stephen A. Riddick sold 1,421 shares of Tenable stock in a transaction dated Monday, August 23rd. The shares were sold at an average price of $40.86, for a total value of $58,062.06. Following the sale, the general counsel now owns 30,131 shares of the company’s stock, valued at $1,231,152.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Amit Yoran sold 37,500 shares of Tenable stock in a transaction dated Wednesday, July 14th. The stock was sold at an average price of $40.25, for a total transaction of $1,509,375.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 205,038 shares of company stock worth $8,807,290. Insiders own 8.40% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of TENB. Banque Cantonale Vaudoise purchased a new position in Tenable during the first quarter valued at approximately $33,000. Northwestern Mutual Wealth Management Co. grew its stake in Tenable by 66.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,976 shares of the company’s stock valued at $82,000 after acquiring an additional 786 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Tenable by 27.0% during the second quarter. Nisa Investment Advisors LLC now owns 2,920 shares of the company’s stock valued at $121,000 after acquiring an additional 620 shares in the last quarter. Harbor Investment Advisory LLC grew its stake in Tenable by 27.4% during the second quarter. Harbor Investment Advisory LLC now owns 3,457 shares of the company’s stock valued at $143,000 after acquiring an additional 744 shares in the last quarter. Finally, Lazard Asset Management LLC grew its stake in Tenable by 20.5% during the second quarter. Lazard Asset Management LLC now owns 3,794 shares of the company’s stock valued at $156,000 after acquiring an additional 646 shares in the last quarter. Hedge funds and other institutional investors own 85.62% of the company’s stock.

Tenable Company Profile

Tenable Holdings, Inc engages in the development of security software solutions. It offers Cyber Exposure which is a discipline for managing and measuring cybersecurity risk in the digital era. Its products include tenable.io, tenable.sc, tenable.ot, and nessus professional. The firm delivers solutions in the field of application security, cloud security, compliance, energy, finance, healthcare, and retail.

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Analyst Recommendations for Tenable (NASDAQ:TENB)

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