Tenable (NASDAQ:TENB) Reaches New 1-Year Low – What’s Next?

Shares of Tenable Holdings, Inc. (NASDAQ:TENB) hit a new 52-week low during trading on Tuesday . The stock traded as low as $28.28 and last traded at $28.7990, with a volume of 34149 shares trading hands. The stock had previously closed at $29.02.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Jefferies Financial Group reiterated a “hold” rating and set a $38.00 price target (up previously from $37.00) on shares of Tenable in a report on Thursday, July 31st. Weiss Ratings reiterated a “sell (e+)” rating on shares of Tenable in a report on Wednesday, October 8th. Canaccord Genuity Group lowered their price target on Tenable from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Needham & Company LLC lowered their price objective on shares of Tenable from $42.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. Finally, Stifel Nicolaus raised their price objective on shares of Tenable from $30.00 to $35.00 and gave the stock a “hold” rating in a research note on Thursday, July 31st. Nine investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $38.63.

Tenable Stock Performance

The stock has a market capitalization of $3.32 billion, a P/E ratio of -101.41 and a beta of 0.71. The firm has a 50-day moving average of $29.81 and a 200 day moving average of $31.31. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.01.

Tenable (NASDAQ:TENB) last issued its earnings results on Wednesday, October 29th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.37 by $0.05. The firm had revenue of $252.44 million during the quarter, compared to the consensus estimate of $247.43 million. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period last year, the business earned $0.32 earnings per share. Tenable has set its FY 2025 guidance at 1.510-1.540 EPS. Q4 2025 guidance at 0.390-0.430 EPS. Research analysts anticipate that Tenable Holdings, Inc. will post 0.12 EPS for the current fiscal year.

Insider Buying and Selling

In other Tenable news, Director A Brooke Seawell sold 4,622 shares of Tenable stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $30.12, for a total transaction of $139,214.64. Following the completion of the transaction, the director directly owned 15,000 shares of the company’s stock, valued at approximately $451,800. This trade represents a 23.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Stephen A. Vintz sold 29,196 shares of Tenable stock in a transaction on Monday, August 25th. The shares were sold at an average price of $30.25, for a total value of $883,179.00. Following the transaction, the chief executive officer directly owned 358,949 shares of the company’s stock, valued at approximately $10,858,207.25. The trade was a 7.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 64,555 shares of company stock valued at $1,951,065 in the last ninety days. Insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Caxton Associates LLP acquired a new position in Tenable during the 1st quarter worth about $466,000. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings in Tenable by 9.7% during the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 129,931 shares of the company’s stock worth $4,389,000 after purchasing an additional 11,469 shares during the last quarter. Nicholas Company Inc. raised its holdings in Tenable by 12.7% during the 2nd quarter. Nicholas Company Inc. now owns 186,323 shares of the company’s stock worth $6,294,000 after purchasing an additional 20,940 shares during the last quarter. Stephens Investment Management Group LLC raised its holdings in Tenable by 2.8% during the 2nd quarter. Stephens Investment Management Group LLC now owns 981,628 shares of the company’s stock worth $33,159,000 after purchasing an additional 26,441 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Tenable by 62.1% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,453 shares of the company’s stock worth $590,000 after purchasing an additional 6,689 shares during the last quarter. 89.06% of the stock is owned by institutional investors.

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.