Tenable (NASDAQ:TENB) Upgraded to “Strong Sell” at Wedbush

Wedbush upgraded shares of Tenable (NASDAQ:TENB) to a strong sell rating in a report published on Thursday,Zacks reports.

Other equities analysts have also recently issued reports about the stock. Canaccord Genuity Group upped 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. UBS Group dropped their price objective on shares of Tenable from $37.00 to $34.00 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Cantor Fitzgerald upped their price objective on shares of Tenable from $30.00 to $45.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. Stifel Nicolaus boosted their price target on Tenable from $26.00 to $31.00 and gave the company a “hold” rating in a research note on Thursday, July 30th. Finally, Wall Street Zen upgraded Tenable from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Seven research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Tenable presently has an average rating of “Hold” and an average target price of $34.68.

Tenable Price Performance

NASDAQ TENB opened at $30.11 on Thursday. The stock has a 50-day simple moving average of $35.88 and a 200 day simple moving average of $27.42. Tenable has a twelve month low of $15.73 and a twelve month high of $43.67. The stock has a market capitalization of $3.32 billion, a PE ratio of 602.32 and a beta of 0.96. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.79 and a current ratio of 0.79.

Tenable (NASDAQ:TENB) last released its earnings results on Wednesday, July 29th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.04. Tenable had a return on equity of 14.90% and a net margin of 0.65%.The firm had revenue of $268.51 million for the quarter, compared to analyst estimates of $264.87 million. During the same quarter last year, the firm posted $0.34 EPS. The company’s revenue was up 8.6% on a year-over-year basis. Tenable has set its FY 2026 guidance at 1.950-2.000 EPS and its Q3 2026 guidance at 0.490-0.520 EPS. Research analysts anticipate that Tenable will post 0.5 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Firetrail Investments PTY Ltd. bought a new stake in Tenable in the second quarter valued at $8,389,000. Dimensional Fund Advisors LP raised its stake in Tenable by 231.4% during the first quarter. Dimensional Fund Advisors LP now owns 817,447 shares of the company’s stock worth $13,827,000 after acquiring an additional 570,760 shares in the last quarter. BlackRock Inc. bought a new position in shares of Tenable during the second quarter valued at $498,387,000. Arrowstreet Capital Limited Partnership lifted its holdings 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 acquiring an additional 2,375,587 shares during the period. Finally, Quantinno Capital Management LP boosted its stake in shares of Tenable by 169.7% in the 1st quarter. Quantinno Capital Management LP now owns 232,512 shares of the company’s stock valued at $3,933,000 after purchasing an additional 146,312 shares in the last quarter. Institutional investors own 89.06% of the company’s stock.

Key Tenable News

Here are the key news stories impacting Tenable this week:

• Positive Sentiment: Tenable priced $725 million of 0.25% convertible senior notes due 2031, up from the initially proposed $650 million. The low interest rate limits near-term cash interest expense, while the notes’ initial conversion price of approximately $44.84 per share is well above recent trading levels. Tenable Announces Pricing of Upsized Convertible Senior Notes
• Positive Sentiment: Management expects to use proceeds partly for capped-call transactions, repayment of term loans and a share repurchase of roughly 5.3 million shares for about $170.5 million. These actions could reduce future dilution and lower debt costs, although they do not eliminate investor concerns about leverage. Tenable Proposed Convertible Notes Offering
• Positive Sentiment: Tenable said it ranked first in device vulnerability and exposure management for the eighth consecutive year, citing platform innovation, agentic artificial intelligence and demand for securing AI environments. Tenable Market Leadership Announcement
• Neutral Sentiment: Recent analyst coverage remains mixed in valuation: the reported median price target is $27.50, while individual targets range from $26 to $50. Institutional positioning was also divided, with 177 investors adding shares and 198 reducing positions in the latest quarter.
• Negative Sentiment: The larger-than-expected convertible offering raised concerns about additional leverage and potential future share dilution. Those concerns outweighed the benefits of debt repayment and buybacks, prompting selling as investors reassessed the capital structure. Tenable Prices Convertible Notes

Tenable Company Profile

Tenable Holdings, Inc is a cybersecurity company that helps organizations identify, assess and reduce cyber risk across their technology environments. Its platform is designed to provide visibility into vulnerabilities and exposures affecting information technology, cloud, operational technology and identity systems.

The company’s product portfolio includes Tenable One, an exposure-management platform that brings together data and capabilities for vulnerability management, attack-surface management and other risk assessments.