Tenable (NASDAQ:TENB) Upgraded to Strong-Buy at Stephens

Tenable (NASDAQ:TENB) was upgraded by equities researchers at Stephens to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

Other research analysts have also issued research reports about the stock. Jefferies Financial Group cut their target price on shares of Tenable from $45.00 to $37.00 and set a “hold” rating for the company in a research report on Monday. Cantor Fitzgerald began coverage on Tenable in a research report on Monday. They set an “overweight” rating and a $50.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 target price on shares of Tenable in a report on Thursday, February 6th. Scotiabank upped their price target on Tenable from $44.00 to $45.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 21st. Finally, Stifel Nicolaus cut Tenable from a “buy” rating to a “hold” rating and reduced their price objective for the company from $46.00 to $45.00 in a research report on Friday, January 17th. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.76.

Tenable Stock Performance

Shares of NASDAQ TENB opened at $35.17 on Monday. The business’s 50-day simple moving average is $38.91 and its 200-day simple moving average is $40.28. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.28 and a current ratio of 1.28. Tenable has a 52 week low of $33.84 and a 52 week high of $50.07. The firm has a market cap of $4.23 billion, a price-to-earnings ratio of -117.23 and a beta of 0.87.

Tenable (NASDAQ:TENB) last announced 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 net margin of 4.03% and a negative return on equity of 2.07%. As a group, equities research analysts expect that Tenable will post 0.12 earnings per share for the current fiscal year.

Insider Activity at Tenable

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Tenable by 858.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 642 shares of the company’s stock worth $25,000 after purchasing an additional 575 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC bought a new stake in Tenable during the fourth quarter worth about $35,000. SBI Securities Co. Ltd. acquired a new stake in shares of Tenable during the fourth quarter worth approximately $38,000. Johnson Financial Group Inc. bought a new position in shares of Tenable in the fourth quarter valued at approximately $53,000. Finally, Larson Financial Group LLC boosted its holdings in shares of Tenable by 89.9% in the 4th quarter. Larson Financial Group LLC now owns 1,426 shares of the company’s stock worth $56,000 after acquiring an additional 675 shares in the last quarter. 89.06% of the stock is owned by institutional investors.

Tenable Company Profile

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.