Jefferies Financial Group Issues Pessimistic Forecast for Tenable (NASDAQ:TENB) Stock Price

Tenable (NASDAQ:TENB) had its target price cut by Jefferies Financial Group from $45.00 to $37.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Jefferies Financial Group’s price target indicates a potential upside of 6.54% from the stock’s previous close.

A number of other research analysts have also recently commented on the stock. Cantor Fitzgerald assumed coverage on shares of Tenable in a research report on Monday. They issued an “overweight” rating and a $50.00 target price on the stock. Stifel Nicolaus lowered shares of Tenable from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $46.00 to $45.00 in a report on Friday, January 17th. Scotiabank lifted their target price on shares of Tenable from $44.00 to $45.00 and gave the company a “sector perform” rating in a report on Tuesday, January 21st. Barclays upped their price target on Tenable from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Tenable in a research note on Thursday, February 6th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $48.13.

Tenable Trading Down 0.6 %

Shares of Tenable stock traded down $0.21 during mid-day trading on Monday, hitting $34.73. The stock had a trading volume of 432,564 shares, compared to its average volume of 952,237. The firm has a 50-day moving average of $39.15 and a two-hundred day moving average of $40.34. The firm has a market cap of $4.18 billion, a P/E ratio of -115.88 and a beta of 0.87. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.88. Tenable has a 12-month low of $33.85 and a 12-month high of $50.07.

Tenable (NASDAQ:TENB) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.26). Tenable had a negative return on equity of 2.07% and a negative net margin of 4.03%. Sell-side analysts forecast that Tenable will post 0.12 earnings per share for the current year.

Insiders Place Their Bets

In other Tenable news, Director Linda Kay Zecher sold 2,500 shares of Tenable stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $37.00, for a total transaction of $92,500.00. Following the completion of the sale, the director now directly owns 353 shares of the company’s stock, valued at $13,061. The trade was a 87.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Stephen A. Vintz sold 6,681 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $38.16, for a total value of $254,946.96. Following the completion of the transaction, the chief executive officer now owns 316,523 shares in the company, valued at approximately $12,078,517.68. The trade was a 2.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,937 shares of company stock worth $570,418 in the last 90 days. Corporate insiders own 4.30% of the company’s stock.

Institutional Trading of Tenable

Several institutional investors have recently modified their holdings of TENB. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Tenable by 858.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 642 shares of the company’s stock valued at $25,000 after buying an additional 575 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC purchased a new position in shares of Tenable during the fourth quarter worth about $35,000. SBI Securities Co. Ltd. purchased a new position in shares of Tenable during the fourth quarter worth about $38,000. Johnson Financial Group Inc. acquired a new stake in shares of Tenable during the fourth quarter worth about $53,000. Finally, Larson Financial Group LLC lifted its holdings in shares of Tenable by 89.9% in the 4th quarter. Larson Financial Group LLC now owns 1,426 shares of the company’s stock valued at $56,000 after purchasing an additional 675 shares during the last quarter. Hedge funds and other institutional investors 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.