ValuEngine Lowers Tenable (NASDAQ:TENB) to Hold

ValuEngine downgraded shares of Tenable (NASDAQ:TENB) from a buy rating to a hold rating in a research report report published on Wednesday morning, ValuEngine reports.

Several other research firms have also weighed in on TENB. JPMorgan Chase & Co. lifted their price target on Tenable from $31.00 to $45.00 and gave the company an overweight rating in a research report on Wednesday. Wedbush lifted their price target on Tenable from $35.00 to $40.00 and gave the company an outperform rating in a research report on Wednesday. Monness Crespi & Hardt boosted their target price on Tenable from $30.00 to $35.00 and gave the stock a buy rating in a report on Thursday, June 11th. Zacks Investment Research downgraded Tenable from a buy rating to a hold rating in a report on Tuesday, June 30th. Finally, SunTrust Banks upgraded Tenable from a hold rating to a buy rating and lifted their price objective for the stock from $25.00 to $40.00 in a report on Wednesday. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $36.00.

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. Tenable has a 52-week low of $16.28 and a 52-week high of $36.51. The stock has a market capitalization of $3.43 billion, a PE ratio of -36.88 and a beta of 1.87. The stock’s 50 day moving average price is $30.25 and its 200-day moving average price is $26.72.

Tenable (NASDAQ:TENB) last released its quarterly earnings results on Tuesday, July 28th. The company reported $0.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.25. Tenable had a negative return on equity of 68.92% and a negative net margin of 22.79%. The company had revenue of $107.21 million for the quarter, compared to analyst estimates of $102.23 million. During the same period in the previous year, the company posted ($0.10) earnings per share. The firm’s revenue was up 25.6% on a year-over-year basis. Research analysts forecast that Tenable will post -0.57 EPS for the current fiscal year.

In other Tenable news, major shareholder Insight Holdings Group, Llc sold 635,705 shares of the business’s stock in a transaction dated Wednesday, July 22nd. The stock was sold at an average price of $31.35, for a total transaction of $19,929,351.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Amit Yoran sold 15,000 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $27.98, for a total value of $419,700.00. Following the sale, the chief executive officer now owns 1,349,471 shares of the company’s stock, valued at $37,758,198.58. The disclosure for this sale can be found here. Insiders sold a total of 2,048,426 shares of company stock valued at $62,581,158 over the last quarter. 16.40% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the business. Mackenzie Financial Corp grew its stake in shares of Tenable by 28.8% during the 1st quarter. Mackenzie Financial Corp now owns 4,293,583 shares of the company’s stock valued at $93,858,000 after purchasing an additional 960,650 shares during the period. Champlain Investment Partners LLC grew its stake in shares of Tenable by 6.8% during the 1st quarter. Champlain Investment Partners LLC now owns 4,152,475 shares of the company’s stock valued at $90,773,000 after purchasing an additional 264,395 shares during the period. Sylebra Capital Ltd grew its stake in shares of Tenable by 4.2% during the 1st quarter. Sylebra Capital Ltd now owns 3,392,292 shares of the company’s stock valued at $74,156,000 after purchasing an additional 136,938 shares during the period. BlackRock Inc. lifted its position in shares of Tenable by 3.1% during the 1st quarter. BlackRock Inc. now owns 3,127,129 shares of the company’s stock valued at $68,359,000 after buying an additional 94,333 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Tenable by 3.0% during the 1st quarter. State Street Corp now owns 859,775 shares of the company’s stock valued at $18,795,000 after buying an additional 25,443 shares in the last quarter. Institutional investors and hedge funds own 69.96% of the company’s stock.

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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Analyst Recommendations for Tenable (NASDAQ:TENB)

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