Morgan Stanley Trims Tenable (NASDAQ:TENB) Target Price to $50.00

Tenable (NASDAQ:TENB) had its target price decreased by research analysts at Morgan Stanley from $55.00 to $50.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 20.25% from the stock’s current price.

A number of other research analysts also recently issued reports on the company. Stifel Nicolaus decreased their price target on Tenable from $54.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Scotiabank reduced their target price on Tenable from $47.00 to $44.00 and set a “sector perform” rating for the company in a research note on Thursday, August 1st. Truist Financial reaffirmed a “buy” rating and set a $55.00 target price (down from $60.00) on shares of Tenable in a research note on Thursday, August 1st. Canaccord Genuity Group reduced their target price on Tenable from $57.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Finally, Susquehanna reduced their target price on Tenable from $60.00 to $48.00 and set a “positive” rating for the company in a research note on Thursday, August 1st. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Tenable currently has an average rating of “Moderate Buy” and a consensus price target of $51.56.

Tenable Price Performance

Shares of NASDAQ TENB opened at $41.58 on Wednesday. The business’s 50 day moving average price is $40.93 and its 200 day moving average price is $42.55. The firm has a market cap of $4.94 billion, a P/E ratio of -71.69 and a beta of 0.83. Tenable has a 52 week low of $33.85 and a 52 week high of $53.50. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.98.

Tenable (NASDAQ:TENB) last issued its earnings results on Wednesday, July 31st. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. Tenable had a negative return on equity of 7.63% and a negative net margin of 7.77%. The firm had revenue of $221.24 million for the quarter, compared to analyst estimates of $218.41 million. On average, sell-side analysts expect that Tenable will post -0.06 earnings per share for the current year.

Insider Buying and Selling at Tenable

In other news, CEO Amit Yoran sold 40,000 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $47.72, for a total transaction of $1,908,800.00. Following the completion of the transaction, the chief executive officer now directly owns 387,356 shares in the company, valued at approximately $18,484,628.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Amit Yoran sold 40,000 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $47.72, for a total transaction of $1,908,800.00. Following the completion of the transaction, the chief executive officer now directly owns 387,356 shares in the company, valued at approximately $18,484,628.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Mark C. Thurmond sold 3,383 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $41.66, for a total value of $140,935.78. Following the transaction, the chief operating officer now owns 34,079 shares of the company’s stock, valued at approximately $1,419,731.14. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,469 shares of company stock worth $2,429,076 in the last three months. 4.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tenable

Hedge funds have recently bought and sold shares of the company. Tidal Investments LLC lifted its stake in Tenable by 157.8% during the 1st quarter. Tidal Investments LLC now owns 23,268 shares of the company’s stock worth $1,150,000 after acquiring an additional 14,244 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in Tenable by 21.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 352,468 shares of the company’s stock worth $17,408,000 after acquiring an additional 61,080 shares in the last quarter. ProShare Advisors LLC raised its position in Tenable by 10.1% in the 1st quarter. ProShare Advisors LLC now owns 21,283 shares of the company’s stock valued at $1,052,000 after purchasing an additional 1,961 shares in the last quarter. Blair William & Co. IL raised its position in Tenable by 9.5% in the 1st quarter. Blair William & Co. IL now owns 295,886 shares of the company’s stock valued at $14,626,000 after purchasing an additional 25,760 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Tenable by 16.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 932,384 shares of the company’s stock valued at $46,088,000 after purchasing an additional 131,117 shares in the last quarter. Institutional investors and hedge funds own 89.06% of the company’s stock.

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.