Tenable (NASDAQ:TENB) Updates Q4 2024 Earnings Guidance

Tenable (NASDAQ:TENB) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 0.330-0.350 for the period, compared to the consensus earnings per share estimate of 0.330. The company issued revenue guidance of $229.0 million-$233.0 million, compared to the consensus revenue estimate of $232.0 million. Tenable also updated its FY 2024 guidance to 1.210-1.230 EPS.

Analyst Ratings Changes

Several equities analysts recently issued reports on TENB shares. Robert W. Baird cut their price objective on shares of Tenable from $53.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Wells Fargo & Company reduced their price target on Tenable from $60.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective on shares of Tenable in a research report on Tuesday. Barclays reduced their target price on shares of Tenable from $57.00 to $49.00 and set an “equal weight” rating for the company in a report on Thursday, August 1st. Finally, Scotiabank lowered their price target on shares of Tenable from $47.00 to $44.00 and set a “sector perform” rating on the stock in a report on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $51.38.

Tenable Stock Performance

Tenable stock traded down $0.57 during mid-day trading on Wednesday, reaching $41.23. 1,323,481 shares of the company traded hands, compared to its average volume of 904,614. Tenable has a fifty-two week low of $33.85 and a fifty-two week high of $53.50. The firm’s fifty day moving average is $40.83 and its two-hundred day moving average is $42.27. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.21 and a quick ratio of 1.21. The company has a market capitalization of $4.91 billion, a price-to-earnings ratio of -73.63 and a beta of 0.83.

Tenable (NASDAQ:TENB) last released its earnings results on Wednesday, July 31st. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $218.41 million. On average, equities research analysts expect that Tenable will post -0.06 earnings per share for the current fiscal year.

Insider Activity

In other Tenable news, CEO Amit Yoran sold 5,673 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $41.75, for a total transaction of $236,847.75. Following the completion of the transaction, the chief executive officer now directly owns 39,309 shares of the company’s stock, valued at approximately $1,641,150.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Tenable news, CEO Amit Yoran sold 5,673 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $41.75, for a total value of $236,847.75. Following the sale, the chief executive officer now directly owns 39,309 shares of the company’s stock, valued at approximately $1,641,150.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Stephen A. Vintz sold 3,413 shares of Tenable stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $41.75, for a total value of $142,492.75. Following the transaction, the chief financial officer now owns 278,493 shares of the company’s stock, valued at $11,627,082.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,469 shares of company stock valued at $520,276. Company insiders own 4.30% of the company’s stock.

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.