Needham & Company LLC Reiterates “Buy” Rating for Tenable (NASDAQ:TENB)

Tenable (NASDAQ:TENB)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports. They presently have a $50.00 price target on the stock. Needham & Company LLC’s price objective indicates a potential upside of 15.71% from the stock’s current price.

A number of other equities research analysts also recently commented on TENB. Scotiabank increased their price objective on shares of Tenable from $44.00 to $45.00 and gave the company a “sector perform” rating in a research report on Tuesday, January 21st. Barclays dropped their target price on Tenable from $49.00 to $45.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Robert W. Baird lowered their price objective on Tenable from $53.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Stifel Nicolaus lowered Tenable from a “buy” rating to a “hold” rating and cut their target price for the stock from $46.00 to $45.00 in a research report on Friday, January 17th. Finally, Jefferies Financial Group upped their price target on Tenable from $40.00 to $45.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $50.25.

Tenable Trading Up 0.4 %

NASDAQ:TENB opened at $43.21 on Thursday. Tenable has a 12-month low of $35.25 and a 12-month high of $53.50. The firm has a market cap of $5.19 billion, a PE ratio of -84.73 and a beta of 0.87. 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 stock has a fifty day moving average price of $41.45 and a 200 day moving average price of $41.34.

Tenable (NASDAQ:TENB) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.26). Tenable had a negative net margin of 6.82% and a negative return on equity of 6.21%. Sell-side analysts anticipate that Tenable will post -0.02 earnings per share for the current fiscal year.

Insider Buying and Selling at Tenable

In other Tenable news, CEO Amit Yoran sold 5,293 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $42.74, for a total transaction of $226,222.82. Following the completion of the transaction, the chief executive officer now owns 51,691 shares in the company, valued at approximately $2,209,273.34. This represents a 9.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Raymond Jr. Vicks sold 809 shares of Tenable stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $38.52, for a total transaction of $31,162.68. Following the completion of the sale, the director now directly owns 8,659 shares in the company, 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. Insiders sold a total of 21,463 shares of company stock valued at $894,042 in the last ninety days. Insiders own 4.30% of the company’s stock.

Institutional Trading of Tenable

Several hedge funds have recently modified their holdings of the business. Covestor Ltd grew its holdings in Tenable by 84.5% during the third quarter. Covestor Ltd now owns 631 shares of the company’s stock worth $26,000 after acquiring an additional 289 shares during the period. Larson Financial Group LLC grew its stake in shares of Tenable by 658.6% during the 3rd quarter. Larson Financial Group LLC now owns 751 shares of the company’s stock worth $30,000 after purchasing an additional 652 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Tenable in the 4th quarter valued at about $38,000. Nisa Investment Advisors LLC increased its holdings in shares of Tenable by 74.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,753 shares of the company’s stock valued at $108,000 after purchasing an additional 1,172 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its stake in shares of Tenable by 30.3% in the fourth quarter. Pacer Advisors Inc. now owns 2,823 shares of the company’s stock valued at $111,000 after purchasing an additional 657 shares during the period. 89.06% of the stock is owned by institutional investors and hedge funds.

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.