Tenable (NASDAQ:TENB) Given “Buy” Rating at Needham & Company LLC

Tenable (NASDAQ:TENB)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a research report issued on Thursday,Benzinga reports. They currently have a $50.00 price target on the stock. Needham & Company LLC’s price target would indicate a potential upside of 15.71% from the company’s current price.

TENB has been the subject of a number of other research reports. Robert W. Baird decreased their price objective on shares of Tenable from $53.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Westpark Capital reaffirmed a “hold” rating on shares of Tenable in a report on Thursday, October 31st. Jefferies Financial Group raised their price objective on Tenable from $40.00 to $45.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Morgan Stanley reaffirmed an “equal weight” rating and set a $47.00 target price (down from $50.00) on shares of Tenable in a research note on Monday, December 2nd. Finally, Barclays dropped their price target on shares of Tenable from $49.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Seven investment 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $50.25.

Tenable Price Performance

Shares of TENB opened at $43.21 on Thursday. The company has a market capitalization of $5.19 billion, a P/E ratio of -84.73 and a beta of 0.87. The business’s 50-day moving average is $41.45 and its two-hundred day moving average is $41.34. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.28 and a current ratio of 1.28. Tenable has a fifty-two week low of $35.25 and a fifty-two week high of $53.50.

Tenable (NASDAQ:TENB) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.26). Tenable had a negative net margin of 6.82% and a negative return on equity of 6.21%. Research analysts predict that Tenable will post -0.02 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Raymond Jr. Vicks sold 809 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $38.52, for a total value of $31,162.68. Following the transaction, the director now directly owns 8,659 shares in the company, valued at approximately $333,544.68. This represents a 8.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Mark C. Thurmond sold 2,209 shares of Tenable stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $40.72, for a total value of $89,950.48. Following the completion of the sale, the chief operating officer now owns 35,480 shares in the company, valued at $1,444,745.60. This represents a 5.86 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,463 shares of company stock valued at $894,042. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Covestor Ltd boosted its position in shares of Tenable by 84.5% during the 3rd quarter. Covestor Ltd now owns 631 shares of the company’s stock worth $26,000 after purchasing an additional 289 shares during the period. Fulton Bank N.A. lifted its stake in Tenable by 5.7% during the third quarter. Fulton Bank N.A. now owns 8,202 shares of the company’s stock worth $332,000 after purchasing an additional 443 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in shares of Tenable by 3.0% in the fourth quarter. Oppenheimer & Co. Inc. now owns 15,650 shares of the company’s stock valued at $616,000 after buying an additional 450 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Tenable by 0.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,281 shares of the company’s stock valued at $2,118,000 after buying an additional 457 shares during the period. Finally, Olympiad Research LP lifted its stake in Tenable by 11.1% during the 3rd quarter. Olympiad Research LP now owns 5,287 shares of the company’s stock worth $214,000 after acquiring an additional 528 shares in the last quarter. Hedge funds and other institutional investors 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.