Wall Street Zen Downgrades Tenable (NASDAQ:TENB) to Buy

Tenable (NASDAQ:TENB) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

TENB has been the topic of a number of other reports. Barclays decreased their price target on shares of Tenable from $41.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 30th. TD Cowen boosted their price objective on Tenable from $38.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. JPMorgan Chase & Co. increased their target price on Tenable from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, June 30th. Wells Fargo & Company decreased their target price on Tenable from $43.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 30th. Finally, DA Davidson lifted their price target on Tenable from $22.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, May 22nd. Seven research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Tenable presently has an average rating of “Hold” and an average price target of $34.68.

Tenable Price Performance

Tenable stock opened at $35.43 on Friday. The stock has a market capitalization of $3.90 billion, a P/E ratio of 708.74 and a beta of 0.96. The company’s fifty day moving average price is $35.45 and its 200 day moving average price is $28.09. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.79 and a current ratio of 0.79. Tenable has a 1 year low of $15.73 and a 1 year high of $43.67.

Tenable (NASDAQ:TENB) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.04. The company had revenue of $268.51 million during the quarter, compared to analysts’ expectations of $264.87 million. Tenable had a net margin of 0.65% and a return on equity of 14.90%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.34 earnings per share. Tenable has set its FY 2026 guidance at 1.950-2.000 EPS and its Q3 2026 guidance at 0.490-0.520 EPS. As a group, equities research analysts anticipate that Tenable will post 0.5 earnings per share for the current fiscal year.

Institutional Trading of Tenable

Several large investors have recently bought and sold shares of TENB. BlackRock Inc. acquired a new position in shares of Tenable during the 2nd quarter worth approximately $498,387,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Tenable by 175.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,732,271 shares of the company’s stock valued at $63,131,000 after purchasing an additional 2,375,587 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in Tenable during the second quarter worth approximately $76,759,000. Norges Bank purchased a new position in Tenable during the fourth quarter worth approximately $44,542,000. Finally, Renaissance Technologies LLC lifted its position in Tenable by 140.8% during the first quarter. Renaissance Technologies LLC now owns 1,260,100 shares of the company’s stock worth $21,315,000 after buying an additional 736,800 shares in the last quarter. Hedge funds and other institutional investors own 89.06% of the company’s stock.

About Tenable

Tenable Holdings, Inc is a cybersecurity company that helps organizations identify, assess and reduce cyber risk across their technology environments. Its platform is designed to provide visibility into vulnerabilities and exposures affecting information technology, cloud, operational technology and identity systems.

The company’s product portfolio includes Tenable One, an exposure-management platform that brings together data and capabilities for vulnerability management, attack-surface management and other risk assessments.