Barclays Has Lowered Expectations for Tenable (NASDAQ:TENB) Stock Price

Tenable (NASDAQ:TENB) had its target price lowered by research analysts at Barclays from $49.00 to $45.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price target points to a potential upside of 11.00% from the stock’s current price.

TENB has been the topic of a number of other research reports. Truist Financial reaffirmed a “buy” rating and set a $55.00 price target (down previously from $60.00) on shares of Tenable in a research report on Thursday, August 1st. Morgan Stanley dropped their price objective on shares of Tenable from $55.00 to $50.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Baird R W upgraded shares of Tenable to a “strong-buy” rating in a report on Monday, July 15th. Westpark Capital reiterated a “hold” rating on shares of Tenable in a report on Thursday. Finally, Canaccord Genuity Group dropped their price objective on shares of Tenable from $57.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $50.81.

Tenable Trading Down 1.7 %

TENB traded down $0.69 during trading on Thursday, reaching $40.54. 1,166,903 shares of the stock traded hands, compared to its average volume of 905,633. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $4.83 billion, a PE ratio of -72.52 and a beta of 0.83. The stock’s 50-day moving average is $40.80 and its 200 day moving average is $42.26. Tenable has a 12 month low of $33.85 and a 12 month high of $53.50.

Tenable (NASDAQ:TENB) last issued its quarterly 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. The business had revenue of $221.24 million for the quarter, compared to analysts’ expectations of $218.41 million. Tenable had a negative net margin of 7.77% and a negative return on equity of 7.63%. Equities analysts anticipate 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 5,673 shares of the 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 $1,641,150.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Mark C. Thurmond sold 3,383 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $41.66, for a total value of $140,935.78. Following the completion of the transaction, the chief operating officer now directly owns 34,079 shares of the company’s stock, valued at approximately $1,419,731.14. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,469 shares of company stock worth $520,276. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. boosted its holdings in Tenable by 1.8% in the 2nd quarter. Principal Financial Group Inc. now owns 15,930 shares of the company’s stock valued at $694,000 after purchasing an additional 276 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Tenable by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,708 shares of the company’s stock valued at $183,000 after buying an additional 312 shares in the last quarter. Xponance Inc. raised its position in shares of Tenable by 5.5% during the 2nd quarter. Xponance Inc. now owns 7,441 shares of the company’s stock valued at $324,000 after buying an additional 389 shares in the last quarter. Fulton Bank N.A. raised its position in shares of Tenable by 5.7% during the 3rd quarter. Fulton Bank N.A. now owns 8,202 shares of the company’s stock valued at $332,000 after buying an additional 443 shares in the last quarter. Finally, American International Group Inc. raised its position in shares of Tenable by 1.0% during the 1st quarter. American International Group Inc. now owns 57,385 shares of the company’s stock valued at $2,837,000 after buying an additional 592 shares in the last quarter. 89.06% of the stock is owned by institutional investors.

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.