Jefferies Financial Group Initiates Coverage on Tenable (NASDAQ:TENB)

Stock analysts at Jefferies Financial Group started coverage on shares of Tenable (NASDAQ:TENB) in a note issued to investors on Wednesday, Briefing.com reports. The firm set a “hold” rating and a $45.00 price target on the stock. Jefferies Financial Group’s price objective suggests a potential upside of 5.73% from the stock’s current price.

Several other brokerages have also recently commented on TENB. Wells Fargo & Company lowered their price target on Tenable from $60.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday, August 1st. DA Davidson downgraded Tenable from a “buy” rating to a “neutral” rating and lowered their price target for the company from $56.00 to $40.00 in a research report on Thursday, August 1st. Baird R W raised Tenable to a “strong-buy” rating in a research report on Monday, July 15th. Susquehanna lowered their target price on Tenable from $60.00 to $48.00 and set a “positive” rating on the stock in a report on Thursday, August 1st. Finally, Scotiabank dropped their price target on Tenable from $47.00 to $44.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 1st. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $52.19.

Tenable Trading Up 0.6 %

Shares of NASDAQ TENB opened at $42.56 on Wednesday. The business has a 50-day moving average price of $40.79 and a two-hundred day moving average price of $42.75. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.98. Tenable has a one year low of $33.85 and a one year high of $53.50. The firm has a market capitalization of $5.06 billion, a PE ratio of -73.38 and a beta of 0.83.

Tenable (NASDAQ:TENB) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.05) earnings per share (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 during the quarter, compared to analysts’ expectations of $218.41 million. As a group, analysts predict that Tenable will post -0.06 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Amit Yoran sold 5,673 shares of the firm’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Amit Yoran sold 5,673 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was 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 owns 39,309 shares in the company, valued at $1,641,150.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Stephen A. Vintz sold 3,413 shares of the business’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 $142,492.75. Following the completion of the sale, the chief financial officer now directly owns 278,493 shares in the company, valued at approximately $11,627,082.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,469 shares of company stock worth $2,429,076. 4.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tenable

Several large investors have recently made changes to their positions in the company. Tidal Investments LLC lifted its holdings in Tenable by 157.8% during the 1st quarter. Tidal Investments LLC now owns 23,268 shares of the company’s stock valued at $1,150,000 after purchasing an additional 14,244 shares during the last quarter. CHURCHILL MANAGEMENT Corp acquired a new stake in shares of Tenable during the first quarter worth approximately $1,239,000. CANADA LIFE ASSURANCE Co raised its stake in shares of Tenable by 21.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 352,468 shares of the company’s stock valued at $17,408,000 after acquiring an additional 61,080 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Tenable by 18.7% in the 4th quarter. Fisher Asset Management LLC now owns 347,236 shares of the company’s stock worth $15,994,000 after acquiring an additional 54,664 shares in the last quarter. Finally, ProShare Advisors LLC boosted its holdings in shares of Tenable by 10.1% in the 1st quarter. ProShare Advisors LLC now owns 21,283 shares of the company’s stock worth $1,052,000 after acquiring an additional 1,961 shares in the last quarter. Institutional investors 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.