Tenable (NASDAQ:TENB) Hits New 52-Week 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 $24.14 and last traded at $24.1760, with a volume of 89368 shares. The stock had previously closed at $24.68.

Wall Street Analysts Forecast Growth

TENB has been the subject of a number of research analyst reports. Needham & Company LLC cut their price objective on Tenable from $42.00 to $38.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Canaccord Genuity Group decreased their target price on Tenable from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Cantor Fitzgerald reissued an “overweight” rating and set a $42.00 price target on shares of Tenable in a research note on Thursday, October 23rd. Jefferies Financial Group set a $29.00 price target on Tenable in a report on Tuesday, December 16th. Finally, Barclays decreased their price objective on Tenable from $39.00 to $33.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 14th. Nine equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Tenable has a consensus rating of “Hold” and an average target price of $37.94.

Tenable Stock Down 0.2%

The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.03. The company has a 50 day simple moving average of $27.13 and a two-hundred day simple moving average of $29.84. The company has a market capitalization of $2.88 billion, a P/E ratio of -89.50 and a beta of 0.73.

Tenable (NASDAQ:TENB) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.05. The company had revenue of $252.44 million during the quarter, compared to the consensus estimate of $247.43 million. Tenable’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.32 earnings per share. Tenable has set its FY 2025 guidance at 1.510-1.540 EPS and its Q4 2025 guidance at 0.390-0.430 EPS. As a group, equities analysts predict that Tenable Holdings, Inc. will post 0.12 EPS for the current year.

Insider Buying and Selling at Tenable

In other Tenable news, insider Barron Anschutz sold 976 shares of Tenable stock in a transaction on Friday, October 17th. The shares were sold at an average price of $29.10, for a total transaction of $28,401.60. Following the completion of the transaction, the insider directly owned 61,420 shares of the company’s stock, valued at $1,787,322. The trade was a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director A Brooke Seawell sold 115,000 shares of the stock in a transaction on Monday, December 15th. The shares were sold at an average price of $24.82, for a total transaction of $2,854,300.00. The SEC filing for this sale provides additional information. 1.50% of the stock is owned by insiders.

Institutional Trading of Tenable

Institutional investors have recently added to or reduced their stakes in the company. Summit Global Investments boosted its holdings in Tenable by 5.1% during the 3rd quarter. Summit Global Investments now owns 12,930 shares of the company’s stock valued at $377,000 after acquiring an additional 632 shares during the period. Amundi increased its stake in Tenable by 1.2% in the first quarter. Amundi now owns 58,149 shares of the company’s stock worth $1,939,000 after purchasing an additional 676 shares during the period. IVC Wealth Advisors LLC lifted its position in shares of Tenable by 10.7% during the third quarter. IVC Wealth Advisors LLC now owns 7,344 shares of the company’s stock worth $214,000 after purchasing an additional 711 shares during the last quarter. CI Investments Inc. boosted its stake in shares of Tenable by 40.2% during the third quarter. CI Investments Inc. now owns 2,487 shares of the company’s stock valued at $73,000 after purchasing an additional 713 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Tenable by 9.4% during the third quarter. Principal Financial Group Inc. now owns 9,300 shares of the company’s stock valued at $271,000 after purchasing an additional 799 shares during the period. Institutional investors own 89.06% of the company’s stock.

Tenable Company Profile

Tenable Holdings, Inc is a global cybersecurity company specializing in vulnerability management and continuous threat exposure assessment. Headquartered in Columbia, Maryland, Tenable was founded in 2002 by Ron Gula and Jack Huffard to address the growing need for proactive network security solutions. Over the years, the company has evolved from a pioneer in open-source vulnerability scanning to a leading provider of comprehensive security platforms that help organizations identify, investigate and prioritize cyber risks across on-premises, cloud and operational technology environments.

At the core of Tenable’s product suite is Nessus, one of the industry’s most widely adopted vulnerability scanners.