Tenable (NASDAQ:TENB) Price Target Cut to $49.00 by Analysts at Barclays

Tenable (NASDAQ:TENB) had its price objective decreased by Barclays from $57.00 to $49.00 in a research report sent to investors on Thursday, Benzinga reports. Barclays currently has an equal weight rating on the stock.

Other analysts also recently issued research reports about the stock. Piper Sandler cut their price objective on shares of Tenable from $60.00 to $55.00 and set an overweight rating for the company in a report on Thursday. Canaccord Genuity Group reduced their price objective on shares of Tenable from $57.00 to $53.00 and set a buy rating on the stock in a research note on Thursday. Stifel Nicolaus dropped their target price on shares of Tenable from $54.00 to $52.00 and set a buy rating for the company in a research report on Thursday. Baird R W upgraded shares of Tenable to a strong-buy rating in a research report on Monday, July 15th. Finally, Wedbush reissued an outperform rating and set a $65.00 price target on shares of Tenable in a report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $53.00.

Tenable Stock Performance

TENB stock traded down $0.97 during midday trading on Thursday, reaching $41.51. 342,551 shares of the company were exchanged, compared to its average volume of 968,050. The firm has a market capitalization of $4.93 billion, a price-to-earnings ratio of -73.24 and a beta of 0.86. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.23 and a quick ratio of 1.23. Tenable has a one year low of $33.85 and a one year high of $53.50. The business has a 50-day moving average price of $42.43 and a two-hundred day moving average price of $45.49.

Tenable (NASDAQ:TENB) last released its quarterly earnings results on Wednesday, May 1st. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.03. The business had revenue of $215.96 million during the quarter, compared to the consensus estimate of $213.56 million. Tenable had a negative return on equity of 7.70% and a negative net margin of 7.77%. Equities research analysts forecast that Tenable will post -0.14 EPS for the current year.

Insiders Place Their Bets

In other news, COO Mark C. Thurmond sold 2,219 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $43.76, for a total transaction of $97,103.44. Following the completion of the sale, the chief operating officer now owns 30,335 shares of the company’s stock, valued at approximately $1,327,459.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, COO Mark C. Thurmond sold 2,219 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $43.76, for a total value of $97,103.44. Following the completion of the sale, the chief operating officer now directly owns 30,335 shares of the company’s stock, valued at approximately $1,327,459.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark C. Thurmond 4,700 shares of the firm’s stock in a transaction on Tuesday, July 30th. The disclosure for this trade can be found here. Over the last three months, insiders sold 64,132 shares of company stock worth $2,957,983. 4.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tenable

Hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank bought a new stake in Tenable during the 4th quarter worth approximately $56,568,000. Readystate Asset Management LP bought a new position in shares of Tenable during the 4th quarter worth approximately $32,199,000. First Trust Advisors LP boosted its position in Tenable by 18.0% in the fourth quarter. First Trust Advisors LP now owns 4,452,555 shares of the company’s stock worth $205,085,000 after purchasing an additional 680,477 shares during the last quarter. Champlain Investment Partners LLC boosted its stake in Tenable by 59.5% in the first quarter. Champlain Investment Partners LLC now owns 1,591,147 shares of the company’s stock valued at $78,650,000 after acquiring an additional 593,529 shares during the last quarter. Finally, William Blair Investment Management LLC grew its position in shares of Tenable by 20.2% during the 1st quarter. William Blair Investment Management LLC now owns 3,491,301 shares of the company’s stock valued at $172,575,000 after acquiring an additional 585,559 shares during the period. 89.06% of the stock is owned by institutional investors.

About Tenable

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.