Tenable (NASDAQ:TENB) Announces Earnings Results, Beats Estimates By $0.04 EPS

Tenable (NASDAQ:TENB) released its earnings results on Wednesday. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.04, FiscalAI reports. The company had revenue of $268.51 million during the quarter, compared to the consensus estimate of $264.87 million. Tenable had a positive return on equity of 7.85% and a negative net margin of 1.15%.

Tenable Stock Up 0.4%

Shares of TENB stock traded up $0.11 on Wednesday, reaching $31.48. 3,881,738 shares of the stock were exchanged, compared to its average volume of 3,244,968. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.42. The business’s 50 day moving average price is $31.69 and its 200 day moving average price is $24.43. The company has a market capitalization of $3.47 billion, a price-to-earnings ratio of -314.80 and a beta of 0.93. Tenable has a twelve month low of $15.73 and a twelve month high of $43.67.

Institutional Trading of Tenable

Hedge funds and other institutional investors have recently bought and sold shares of the business. First Trust Advisors LP lifted its holdings in Tenable by 31.8% during the 4th quarter. First Trust Advisors LP now owns 4,243,625 shares of the company’s stock worth $99,852,000 after buying an additional 1,023,671 shares during the last quarter. Shapiro Capital Management LLC raised its position in shares of Tenable by 38.8% during the 3rd quarter. Shapiro Capital Management LLC now owns 3,612,353 shares of the company’s stock worth $105,336,000 after acquiring an additional 1,010,230 shares in the last quarter. Alyeska Investment Group L.P. raised its position in shares of Tenable by 101.5% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,824,949 shares of the company’s stock worth $42,941,000 after acquiring an additional 919,047 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Tenable by 11.0% during the third quarter. Ameriprise Financial Inc. now owns 7,179,473 shares of the company’s stock worth $209,354,000 after purchasing an additional 713,291 shares during the last quarter. Finally, Federated Hermes Inc. lifted its stake in Tenable by 1,387.6% during the fourth quarter. Federated Hermes Inc. now owns 721,085 shares of the company’s stock worth $16,967,000 after purchasing an additional 672,611 shares during the last quarter. 89.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TENB has been the topic of several recent research reports. Stifel Nicolaus upped their target price on shares of Tenable from $22.00 to $26.00 and gave the stock a “hold” rating in a research note on Friday, May 22nd. Needham & Company LLC raised their price target on shares of Tenable from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, May 22nd. Scotiabank raised Tenable from a “sector perform” rating to a “sector outperform” rating and set a $50.00 price objective on the stock in a research report on Monday, July 6th. Morgan Stanley set a $27.00 price objective on Tenable in a research report on Thursday, April 30th. Finally, Barclays increased their price objective on Tenable from $28.00 to $41.00 and gave the company an “equal weight” rating in a research note on Monday, July 13th. Nine equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $33.42.

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.