Tenable (NASDAQ:TENB) Stock Price Expected to Rise, Scotiabank Analyst Says

Tenable (NASDAQ:TENB) had its price target raised by Scotiabank from $44.00 to $45.00 in a research note published on Tuesday,Benzinga reports. Scotiabank currently has a sector perform rating on the stock.

Several other research firms have also issued reports on TENB. Stifel Nicolaus lowered Tenable from a “buy” rating to a “hold” rating and cut their target price for the company from $46.00 to $45.00 in a research note on Friday, January 17th. Robert W. Baird reduced their price objective on shares of Tenable from $53.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Needham & Company LLC restated a “buy” rating and issued a $50.00 target price on shares of Tenable in a research note on Monday, January 6th. Piper Sandler reduced their price target on Tenable from $55.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Finally, Westpark Capital reissued a “hold” rating on shares of Tenable in a research report on Thursday, October 31st. 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $50.25.

Tenable Stock Up 3.8 %

Shares of NASDAQ TENB opened at $43.86 on Tuesday. Tenable has a 12-month low of $35.25 and a 12-month high of $53.50. The stock’s fifty day simple moving average is $41.08 and its two-hundred day simple moving average is $41.35. The stock has a market capitalization of $5.27 billion, a PE ratio of -86.00 and a beta of 0.85. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.88.

Insider Transactions at Tenable

In related news, Director Raymond Jr. Vicks sold 809 shares of the company’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $38.52, for a total value of $31,162.68. Following the completion of the transaction, the director now owns 8,659 shares of the company’s stock, valued at approximately $333,544.68. This represents a 8.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Stephen A. Vintz sold 3,180 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $42.74, for a total value of $135,913.20. Following the completion of the sale, the chief financial officer now directly owns 285,045 shares in the company, valued at approximately $12,182,823.30. The trade was a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,463 shares of company stock valued at $894,042 in the last 90 days. 4.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Covestor Ltd raised its holdings in shares of Tenable by 84.5% during the third quarter. Covestor Ltd now owns 631 shares of the company’s stock valued at $26,000 after acquiring an additional 289 shares during the last quarter. Xponance Inc. boosted its stake in Tenable by 5.5% during the 2nd quarter. Xponance Inc. now owns 7,441 shares of the company’s stock worth $324,000 after purchasing an additional 389 shares during the last quarter. Fulton Bank N.A. raised its position in shares of Tenable by 5.7% in the third 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Tenable by 0.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,281 shares of the company’s stock worth $2,118,000 after buying an additional 457 shares in the last quarter. Finally, Olympiad Research LP boosted its position in Tenable by 11.1% during the third quarter. Olympiad Research LP now owns 5,287 shares of the company’s stock worth $214,000 after acquiring an additional 528 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.