Scotiabank Initiates Coverage on Tenable (NASDAQ:TENB)

Analysts at Scotiabank initiated coverage on shares of Tenable (NASDAQ:TENB) in a report issued on Friday, Briefing.com reports. The firm set a “sector perform” rating and a $47.00 price target on the stock. Scotiabank’s price objective points to a potential upside of 3.57% from the company’s current price.

Several other brokerages also recently issued reports on TENB. Stephens boosted their price objective on Tenable from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Westpark Capital upgraded Tenable from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research report on Friday, January 12th. Wedbush reissued an “outperform” rating and issued a $65.00 price target on shares of Tenable in a research note on Wednesday, April 10th. Needham & Company LLC restated a “buy” rating and set a $62.00 price objective on shares of Tenable in a research note on Tuesday. Finally, Truist Financial upped their price objective on shares of Tenable from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $57.20.

Tenable Price Performance

Shares of NASDAQ TENB opened at $45.38 on Friday. Tenable has a 1-year low of $33.85 and a 1-year high of $53.50. The firm has a market capitalization of $5.39 billion, a PE ratio of -66.74 and a beta of 0.94. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.19 and a quick ratio of 1.19. The business’s fifty day moving average price is $47.50 and its two-hundred day moving average price is $45.11.

Tenable (NASDAQ:TENB) last issued its quarterly earnings data on Tuesday, February 6th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.06. The firm had revenue of $213.31 million for the quarter, compared to the consensus estimate of $206.95 million. Tenable had a negative net margin of 9.80% and a negative return on equity of 15.19%. On average, research analysts expect that Tenable will post -0.12 EPS for the current year.

Insider Transactions at Tenable

In related news, CEO Amit Yoran sold 12,329 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $46.22, for a total transaction of $569,846.38. Following the completion of the sale, the chief executive officer now directly owns 304,444 shares of the company’s stock, valued at $14,071,401.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Linda Kay Zecher sold 2,600 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $50.75, for a total value of $131,950.00. Following the completion of the transaction, the director now owns 2 shares in the company, valued at approximately $101.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Amit Yoran sold 12,329 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $46.22, for a total value of $569,846.38. Following the sale, the chief executive officer now owns 304,444 shares in the company, valued at approximately $14,071,401.68. The disclosure for this sale can be found here. Insiders have sold 317,382 shares of company stock valued at $15,021,615 in the last quarter. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Xponance Inc. raised its holdings in shares of Tenable by 3.5% during the fourth quarter. Xponance Inc. now owns 6,939 shares of the company’s stock valued at $320,000 after acquiring an additional 232 shares during the period. Fulton Bank N.A. raised its stake in Tenable by 4.1% during the 1st quarter. Fulton Bank N.A. now owns 7,576 shares of the company’s stock valued at $374,000 after purchasing an additional 295 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Tenable by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,708 shares of the company’s stock valued at $183,000 after purchasing an additional 312 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Tenable by 4.9% in the third quarter. PNC Financial Services Group Inc. now owns 7,160 shares of the company’s stock worth $321,000 after buying an additional 332 shares during the period. Finally, Diversified Trust Co grew its holdings in shares of Tenable by 5.5% during the fourth quarter. Diversified Trust Co now owns 6,901 shares of the company’s stock valued at $318,000 after buying an additional 361 shares in the last quarter. 89.06% of the stock is currently owned by institutional investors and hedge funds.

About Tenable

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.