Tenable (NASDAQ:TENB) Stock Jumps 5.9% After Analyst Upgrade

Tenable Holdings, Inc. (NASDAQ:TENB) shares rose 5.9% during mid-day trading on Monday after Robert W. Baird raised their price target on the stock from $41.00 to $50.00. Robert W. Baird currently has an outperform rating on the stock. Tenable traded as high as $47.15 and last traded at $47.2350. Approximately 917,044 shares traded hands during trading, a decline of 74% from the average session volume of 3,515,772 shares. The stock had previously closed at $44.59.

Several other research analysts have also weighed in on the company. Yorkville Ives started coverage on Tenable in a research report on Tuesday, October 6th. They issued an “outperform” rating and a $45.00 target price on the stock. Susquehanna increased their price objective on Tenable from $26.00 to $36.00 and gave the stock a “positive” rating in a report on Thursday, July 30th. Scotiabank upgraded Tenable from a “sector perform” rating to a “sector outperform” rating and set a $50.00 price objective on the stock in a report on Monday, July 6th. TD Cowen raised their price objective on shares of Tenable from $38.00 to $44.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Finally, Needham & Company LLC lifted their target price on shares of Tenable from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Nine analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $36.40.

Institutional Trading of Tenable

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in shares of Tenable in the second quarter valued at approximately $498,387,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Tenable during the 2nd quarter worth approximately $76,759,000. Arrowstreet Capital Limited Partnership increased its position 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 valued at $63,131,000 after purchasing an additional 2,375,587 shares during the period. Freestone Grove Partners LP bought a new stake in shares of Tenable during the second quarter valued at approximately $42,489,000. Finally, Bank of America Corp DE acquired a new position in shares of Tenable in the second quarter valued at $30,884,000. Institutional investors and hedge funds own 89.06% of the company’s stock.

Tenable Stock Up 5.9%

The firm has a market capitalization of $5.20 billion, a price-to-earnings ratio of 946.91 and a beta of 1.01. The business has a 50 day moving average of $36.57 and a 200 day moving average of $31.42. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.79 and a quick ratio of 0.79.

Tenable (NASDAQ:TENB) last posted its quarterly earnings results 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 firm had revenue of $268.51 million for the quarter, compared to the consensus estimate of $264.87 million. Tenable had a net margin of 0.65% and a return on equity of 14.90%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $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. On average, equities analysts anticipate that Tenable Holdings, Inc. will post 0.50 EPS for the current year.

About Tenable

Tenable is a cybersecurity company that helps organizations identify, assess and reduce cyber risk across their technology environments. Its exposure management platform is designed to provide visibility into vulnerabilities and other security exposures affecting cloud systems, applications, endpoints, networks, operational technology, Internet of Things devices and identities.

The company’s product portfolio includes Nessus, a widely used vulnerability assessment solution, and Tenable One, an exposure management platform that brings together vulnerability management, cloud security, identity exposure and related capabilities.