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

Tenable Holdings, Inc. (NASDAQ:TENB)’s stock price reached a new 52-week low during trading on Monday . The company traded as low as $22.51 and last traded at $23.1970, with a volume of 109937 shares trading hands. The stock had previously closed at $22.73.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Scotiabank lowered their target price on shares of Tenable from $37.00 to $31.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 30th. Piper Sandler lowered their price target on Tenable from $40.00 to $35.00 and set an “overweight” rating on the stock in a research report on Monday. Canaccord Genuity Group dropped their price objective on Tenable from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. 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. Finally, Jefferies Financial Group set a $29.00 target price on Tenable in a report on Tuesday, December 16th. Ten research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Tenable presently has a consensus rating of “Hold” and an average price target of $37.47.

Tenable Price Performance

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 stock’s 50-day moving average price is $25.98 and its 200 day moving average price is $29.27. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of -88.52 and a beta of 0.64.

Tenable (NASDAQ:TENB) last issued its quarterly earnings results 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 firm had revenue of $252.44 million for the quarter, compared to the consensus estimate of $247.43 million. During the same quarter in the prior year, the firm earned $0.32 earnings per share. The company’s revenue was up 11.2% on a year-over-year basis. Tenable has set its FY 2025 guidance at 1.510-1.540 EPS and its Q4 2025 guidance at 0.390-0.430 EPS. Equities research analysts predict that Tenable Holdings, Inc. will post 0.12 earnings per share for the current year.

Insider Buying and Selling at Tenable

In other news, insider Barron Anschutz sold 976 shares of the stock in a transaction on Friday, October 17th. The shares were sold at an average price of $29.10, for a total value of $28,401.60. Following the completion of the transaction, the insider owned 61,420 shares in the company, valued at approximately $1,787,322. This represents a 1.56% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director A Brooke Seawell sold 115,000 shares of the firm’s stock in a transaction dated Monday, December 15th. The stock was 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 company insiders.

Institutional Investors Weigh In On Tenable

Several institutional investors and hedge funds have recently made changes to their positions in the company. Voya Investment Management LLC lifted its holdings in Tenable by 39.8% during the 3rd quarter. Voya Investment Management LLC now owns 1,111,531 shares of the company’s stock worth $32,412,000 after buying an additional 316,390 shares in the last quarter. Caxton Associates LLP acquired a new stake in shares of Tenable in the 1st quarter valued at $466,000. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in shares of Tenable by 9.7% during the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 129,931 shares of the company’s stock worth $4,389,000 after acquiring an additional 11,469 shares during the last quarter. Campbell & CO Investment Adviser LLC lifted its stake in shares of Tenable by 285.3% during the second quarter. Campbell & CO Investment Adviser LLC now owns 46,364 shares of the company’s stock valued at $1,566,000 after acquiring an additional 34,331 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Tenable by 293.6% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 406,202 shares of the company’s stock valued at $13,722,000 after acquiring an additional 302,990 shares during the period. Institutional investors and hedge funds own 89.06% of the company’s stock.

About Tenable

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.