Tenable (NASDAQ:TENB) Now Covered by Cantor Fitzgerald

Investment analysts at Cantor Fitzgerald began coverage on shares of Tenable (NASDAQ:TENB) in a research note issued on Monday,Briefing.com Automated Import reports. The firm set an “overweight” rating and a $50.00 price target on the stock. Cantor Fitzgerald’s price target indicates a potential upside of 43.10% from the company’s previous close.

A number of other analysts also recently issued reports on the company. Truist Financial cut their price objective on Tenable from $48.00 to $45.00 and set a “buy” rating for the company in a research report on Monday. Barclays increased their price objective on shares of Tenable from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Jefferies Financial Group upped their price target on Tenable from $40.00 to $45.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. Morgan Stanley initiated coverage on Tenable in a research report on Tuesday, March 18th. They set an “equal weight” rating and a $40.00 price target for the company. Finally, Scotiabank boosted their price objective on Tenable from $44.00 to $45.00 and gave the company a “sector perform” rating in a report on Tuesday, January 21st. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.63.

Tenable Price Performance

Tenable stock opened at $34.94 on Monday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.88. The stock has a market cap of $4.20 billion, a P/E ratio of -116.47 and a beta of 0.87. The company has a 50-day moving average price of $39.15 and a 200 day moving average price of $40.34. Tenable has a 12-month low of $34.45 and a 12-month high of $50.07.

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

Insider Activity at Tenable

In related news, Director Raymond Jr. Vicks sold 809 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $38.52, for a total value of $31,162.68. Following the completion of the sale, the director now directly owns 8,659 shares of the company’s stock, valued at $333,544.68. The trade was a 8.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Linda Kay Zecher sold 2,500 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $37.00, for a total transaction of $92,500.00. Following the completion of the transaction, the director now owns 353 shares of the company’s stock, valued at $13,061. This represents a 87.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,937 shares of company stock valued at $570,418 over the last three months. 4.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Tenable by 858.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 642 shares of the company’s stock worth $25,000 after acquiring an additional 575 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in Tenable during the 4th quarter worth $35,000. SBI Securities Co. Ltd. purchased a new position in Tenable during the 4th quarter worth $38,000. Johnson Financial Group Inc. acquired a new position in Tenable in the fourth quarter valued at $53,000. Finally, Larson Financial Group LLC raised its holdings in shares of Tenable by 89.9% in the fourth quarter. Larson Financial Group LLC now owns 1,426 shares of the company’s stock valued at $56,000 after buying an additional 675 shares during the last quarter. Institutional investors and hedge funds own 89.06% 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.