Morgan Stanley Begins Coverage on Tenable (NASDAQ:TENB)

Morgan Stanley started coverage on shares of Tenable (NASDAQ:TENB) in a research note released on Tuesday, Marketbeat.com reports. The firm issued an equal weight rating and a $40.00 target price on the stock.

Several other analysts also recently issued reports on the company. Needham & Company LLC restated a “buy” rating and set a $50.00 price objective on shares of Tenable in a report on Thursday, February 6th. Stifel Nicolaus downgraded Tenable from a “buy” rating to a “hold” rating and cut their price objective for the stock from $46.00 to $45.00 in a report on Friday, January 17th. Jefferies Financial Group boosted their price objective on Tenable from $40.00 to $45.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Scotiabank boosted their price objective on Tenable from $44.00 to $45.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 21st. Finally, Barclays boosted their price objective on Tenable from $45.00 to $48.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tenable presently has an average rating of “Moderate Buy” and a consensus target price of $49.20.

Tenable Price Performance

Shares of Tenable stock opened at $36.13 on Tuesday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.88. The company’s 50-day moving average price is $39.62 and its two-hundred day moving average price is $40.48. Tenable has a 52 week low of $35.25 and a 52 week high of $50.30. The stock has a market cap of $4.35 billion, a PE ratio of -120.43 and a beta of 0.87.

Tenable (NASDAQ:TENB) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.26). Tenable had a negative return on equity of 2.07% and a negative net margin of 4.03%. As a group, sell-side analysts anticipate that Tenable will post 0.12 EPS for the current fiscal year.

Insider Activity at Tenable

In related news, Director Linda Kay Zecher sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $37.00, for a total value of $92,500.00. Following the completion of the sale, the director now owns 353 shares of the company’s stock, valued at approximately $13,061. The trade was a 87.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Raymond Jr. Vicks sold 809 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $38.52, for a total value of $31,162.68. Following the completion of the sale, the director now directly owns 8,659 shares of the company’s stock, valued at approximately $333,544.68. The trade was a 8.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,937 shares of company stock valued at $570,418. 4.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tenable

A number of large investors have recently added to or reduced their stakes in the stock. Arizona State Retirement System boosted its position in Tenable by 1.0% during the fourth quarter. Arizona State Retirement System now owns 34,560 shares of the company’s stock worth $1,361,000 after purchasing an additional 332 shares during the period. Summit Investment Advisors Inc. lifted its holdings in shares of Tenable by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 12,336 shares of the company’s stock worth $486,000 after buying an additional 390 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of Tenable by 3.0% during the fourth quarter. Oppenheimer & Co. Inc. now owns 15,650 shares of the company’s stock worth $616,000 after buying an additional 450 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Tenable by 0.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,281 shares of the company’s stock worth $2,118,000 after buying an additional 457 shares during the last quarter. Finally, Tidal Investments LLC lifted its holdings in shares of Tenable by 1.8% during the fourth quarter. Tidal Investments LLC now owns 32,082 shares of the company’s stock worth $1,263,000 after buying an additional 564 shares during the last quarter. Institutional investors own 89.06% of the company’s stock.

About Tenable

Tenable Holdings, Inc provides cyber exposure solutions for in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan. Its platforms include Tenable Vulnerability Management, a cloud-delivered software as a service that provides organizations with a risk-based view of traditional and modern attack surfaces; Tenable Cloud Security, a cloud-native cloud security solutions for security teams to continuously assess the security posture; Tenable Identity Exposure, a solution to secure Active Directory environments; Tenable Web App Scanning, which provides scanning for modern web applications; Tenable Lumin Exposure View, a measurement tool; Tenable Attack Surface Management, an external attack surface management solution; Tenable Security Center, an on-premises solution that provides a risk-based view of an organization’s IT, security and compliance posture; and Tenable OT Security, an operational technology security solution which provides threat detection, asset tracking, vulnerability management, and configuration control capabilities.