Tenable (NASDAQ:TENB) Updates FY 2024 Earnings Guidance

Tenable (NASDAQ:TENB) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 1.210-1.230 for the period, compared to the consensus earnings per share estimate of 1.180. The company issued revenue guidance of $893.3 million-$897.3 million, compared to the consensus revenue estimate of $892.6 million. Tenable also updated its FY24 guidance to $1.21-$1.23 EPS.

Analysts Set New Price Targets

A number of research analysts have weighed in on TENB shares. 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. Scotiabank lowered their target price on shares of Tenable from $47.00 to $44.00 and set a “sector perform” rating on the stock in a report on Thursday, August 1st. Piper Sandler lowered their target price on Tenable from $55.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price target on shares of Tenable in a research report on Tuesday. Finally, Wells Fargo & Company lowered their target price on shares of Tenable from $60.00 to $50.00 and set an “overweight” rating for the company 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 stock presently has an average rating of “Moderate Buy” and an average price target of $50.81.

Tenable Price Performance

Tenable stock traded down $0.83 during mid-day trading on Friday, reaching $38.78. The company had a trading volume of 1,656,927 shares, compared to its average volume of 754,736. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.21 and a quick ratio of 1.21. The company has a market capitalization of $4.62 billion, a P/E ratio of -76.04 and a beta of 0.83. Tenable has a 1 year low of $33.85 and a 1 year high of $53.50. The stock’s 50-day simple moving average is $40.71 and its 200-day simple moving average is $42.19.

Tenable (NASDAQ:TENB) last issued its quarterly earnings results on Wednesday, July 31st. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.03. The firm had revenue of $221.24 million during the quarter, compared to analyst estimates of $218.41 million. Tenable had a negative net margin of 6.82% and a negative return on equity of 6.42%. On average, equities analysts predict that Tenable will post -0.06 EPS for the current year.

Insiders Place Their Bets

In other news, COO Mark C. Thurmond sold 3,383 shares of the 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 in the company, valued at $1,419,731.14. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Tenable news, CFO Stephen A. Vintz sold 3,413 shares of the 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 $142,492.75. Following the transaction, the chief financial officer now owns 278,493 shares in the company, valued at $11,627,082.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Mark C. Thurmond sold 3,383 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $41.66, for a total transaction of $140,935.78. Following the transaction, the chief operating officer now directly owns 34,079 shares of the company’s stock, valued at $1,419,731.14. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,469 shares of company stock valued at $520,276 over the last 90 days. 4.30% of the stock is owned by company insiders.

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.