Tenable (NASDAQ:TENB) Stock Jumps 6.5% – Still a Buy?

Tenable Holdings, Inc. (NASDAQ:TENB) shares shot up 6.5% during mid-day trading on Wednesday. The company traded as high as $36.85 and last traded at $37.2660. Approximately 648,473 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 3,493,112 shares. The stock had previously closed at $34.99.

Analyst Ratings Changes

Several research firms have weighed in on TENB. Truist Financial lowered their target price on Tenable from $40.00 to $30.00 and set a “hold” rating on the stock in a report on Thursday, July 30th. Jefferies Financial Group decreased their price objective on Tenable from $35.00 to $30.00 and set a “hold” rating on the stock in a report on Thursday, July 30th. Stifel Nicolaus increased their price target on shares of Tenable from $26.00 to $31.00 and gave the stock a “hold” rating in a research note on Thursday, July 30th. UBS Group decreased their target price on Tenable from $37.00 to $34.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Finally, Susquehanna lifted their price target on shares of Tenable from $26.00 to $36.00 and gave the company a “positive” rating in a research report on Thursday, July 30th. Seven equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $34.68.

Tenable Stock Performance

The company has a market capitalization of $4.09 billion, a price-to-earnings ratio of 742.57 and a beta of 0.96. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.78. The firm has a 50-day simple moving average of $34.92 and a two-hundred day simple moving average of $28.81.

Tenable (NASDAQ:TENB) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.04. The company had revenue of $268.51 million for the quarter, compared to the consensus estimate of $264.87 million. Tenable had a return on equity of 14.90% and a net margin of 0.65%.The firm’s revenue was up 8.6% compared to the same quarter last year. During the same period last 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, sell-side analysts forecast that Tenable Holdings, Inc. will post 0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tenable

Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Tenable during the 2nd quarter valued at approximately $498,387,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Tenable by 175.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,732,271 shares of the company’s stock worth $63,131,000 after purchasing an additional 2,375,587 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in Tenable in the 2nd quarter valued at approximately $76,759,000. Norges Bank bought a new position in shares of Tenable during the 4th quarter worth about $44,542,000. Finally, Renaissance Technologies LLC increased its position in shares of Tenable by 140.8% during the 1st quarter. Renaissance Technologies LLC now owns 1,260,100 shares of the company’s stock valued at $21,315,000 after purchasing an additional 736,800 shares during the last quarter. 89.06% of the stock is currently owned by institutional investors and hedge funds.

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.