Tenable (NASDAQ:TENB) Trading Down 5.5% – Here’s What Happened

Tenable Holdings, Inc. (NASDAQ:TENB) shares fell 5.5% during trading on Tuesday . The company traded as low as $36.15 and last traded at $36.0340. Approximately 415,664 shares were traded during mid-day trading, a decline of 88% from the average session volume of 3,340,958 shares. The stock had previously closed at $38.15.

Analyst Upgrades and Downgrades

Several equities analysts have commented on TENB shares. Wall Street Zen raised Tenable from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. JPMorgan Chase & Co. lifted their price target on shares of Tenable from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, June 30th. Canaccord Genuity Group boosted their price objective on shares of Tenable from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Needham & Company LLC upped their price objective on shares of Tenable from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Finally, Jefferies Financial Group decreased their target price on shares of Tenable from $35.00 to $30.00 and set a “hold” rating for the company in a research note on Thursday, July 30th. Eight equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Tenable presently has a consensus rating of “Hold” and an average target price of $34.68.

Tenable Price Performance

The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.78. The firm’s fifty day moving average price is $36.09 and its two-hundred day moving average price is $26.89. The stock has a market capitalization of $3.77 billion, a PE ratio of 684.94 and a beta of 0.96.

Tenable (NASDAQ:TENB) last posted its earnings results on Wednesday, July 29th. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates 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%.Tenable’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior 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 predict that Tenable Holdings, Inc. will post 0.5 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Quarry LP purchased a new position in Tenable during the third quarter valued at approximately $25,000. Kemnay Advisory Services Inc. bought a new stake in Tenable during the fourth quarter valued at about $28,000. Horizon Investments LLC purchased a new position in shares of Tenable in the third quarter valued at about $45,000. Quadrant Capital Group LLC bought a new position in shares of Tenable in the fourth quarter worth about $38,000. Finally, Harbor Investment Advisory LLC purchased a new stake in shares of Tenable during the second quarter worth about $66,000. 89.06% of the stock is currently owned by institutional investors.

About Tenable

Tenable Holdings, Inc is a global cybersecurity company specializing in vulnerability management and continuous threat exposure assessment. Headquartered in Columbia, Maryland, Tenable was founded in 2002 by Ron Gula and Jack Huffard to address the growing need for proactive network security solutions. Over the years, the company has evolved from a pioneer in open-source vulnerability scanning to a leading provider of comprehensive security platforms that help organizations identify, investigate and prioritize cyber risks across on-premises, cloud and operational technology environments.

At the core of Tenable’s product suite is Nessus, one of the industry’s most widely adopted vulnerability scanners.