SunTrust Banks upgraded shares of Tenable (NASDAQ:TENB) from a hold rating to a buy rating in a research note released on Wednesday, BenzingaRatingsTable reports. They currently have $40.00 target price on the stock, up from their previous target price of $25.00.
A number of other analysts have also weighed in on the company. Morgan Stanley upped their target price on Tenable from $30.00 to $33.00 and gave the stock an overweight rating in a report on Wednesday, May 13th. Zacks Investment Research lowered Tenable from a buy rating to a hold rating in a report on Tuesday, June 30th. BidaskClub upgraded Tenable from a hold rating to a buy rating in a report on Wednesday, July 22nd. Cowen lowered their target price on Tenable from $36.00 to $30.00 and set an outperform rating for the company in a report on Tuesday, April 21st. Finally, Monness Crespi & Hardt increased their price objective on Tenable from $30.00 to $35.00 and gave the company a buy rating in a report on Thursday, June 11th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Tenable currently has an average rating of Buy and a consensus target price of $36.00.
Shares of NASDAQ TENB opened at $33.93 on Wednesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of -36.88 and a beta of 1.87. The stock has a 50 day moving average price of $30.25 and a 200 day moving average price of $26.72. Tenable has a 52-week low of $16.28 and a 52-week high of $36.51.
Tenable (NASDAQ:TENB) last posted its earnings results on Tuesday, July 28th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.25. The company had revenue of $107.21 million during the quarter, compared to analyst estimates of $102.23 million. Tenable had a negative return on equity of 68.92% and a negative net margin of 22.79%. Tenable’s revenue was up 25.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.10) earnings per share. Analysts forecast that Tenable will post -0.57 earnings per share for the current year.
In related news, CEO Amit Yoran sold 900 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $30.19, for a total value of $27,171.00. Following the transaction, the chief executive officer now directly owns 1,349,471 shares of the company’s stock, valued at approximately $40,740,529.49. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Stephen A. Vintz sold 89,300 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $29.25, for a total value of $2,612,025.00. Following the completion of the transaction, the chief financial officer now directly owns 268,565 shares in the company, valued at $7,855,526.25. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,048,426 shares of company stock valued at $62,581,158. Company insiders own 16.40% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Baird Financial Group Inc. increased its position in shares of Tenable by 1.3% in the 1st quarter. Baird Financial Group Inc. now owns 33,794 shares of the company’s stock valued at $739,000 after acquiring an additional 434 shares during the period. Wells Fargo & Company MN increased its position in shares of Tenable by 2.3% in the 1st quarter. Wells Fargo & Company MN now owns 20,970 shares of the company’s stock valued at $458,000 after acquiring an additional 478 shares during the period. Red Spruce Capital LLC increased its position in shares of Tenable by 3.5% in the 1st quarter. Red Spruce Capital LLC now owns 22,150 shares of the company’s stock valued at $484,000 after acquiring an additional 750 shares during the period. Pathstone Family Office LLC acquired a new position in shares of Tenable in the 1st quarter valued at $25,000. Finally, UBS Group AG increased its position in shares of Tenable by 32.8% in the 2nd quarter. UBS Group AG now owns 5,336 shares of the company’s stock valued at $159,000 after acquiring an additional 1,319 shares during the period. 69.96% of the stock is currently owned by hedge funds and other institutional investors.
Tenable Company Profile
Tenable Holdings, Inc provides cybersecurity solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company enterprise software platform enables visibility into an organization's cyber exposure across the attack surface and deep insights that help organizations translate vulnerability data into business insights to understand and reduce their cybersecurity risk.
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