Stephens Upgrades Tenable (NASDAQ:TENB) to “Strong-Buy”

Tenable (NASDAQ:TENB) was upgraded by investment analysts at Stephens to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. Scotiabank upped their price objective on shares of Tenable from $44.00 to $45.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 21st. Barclays increased their price target on Tenable from $45.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Needham & Company LLC restated a “buy” rating and set a $50.00 price objective on shares of Tenable in a research report on Thursday, February 6th. Jefferies Financial Group lowered their target price on Tenable from $45.00 to $37.00 and set a “hold” rating for the company in a report on Monday. Finally, Cantor Fitzgerald assumed coverage on Tenable in a report on Monday. They set an “overweight” rating and a $50.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.76.

Tenable Stock Up 0.5 %

Shares of TENB opened at $35.17 on Monday. The firm has a 50 day simple moving average of $38.91 and a two-hundred day simple moving average of $40.28. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.28 and a quick ratio of 1.28. Tenable has a one year low of $33.84 and a one year high of $50.07. The company has a market cap of $4.23 billion, a P/E ratio of -117.23 and a beta of 0.87.

Tenable (NASDAQ:TENB) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.26). Tenable had a negative return on equity of 2.07% and a negative net margin of 4.03%. Research analysts forecast that Tenable will post 0.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tenable news, Director Linda Kay Zecher sold 2,500 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $37.00, for a total value of $92,500.00. Following the transaction, the director now owns 353 shares in the company, valued at approximately $13,061. This represents a 87.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Raymond Jr. Vicks sold 809 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $38.52, for a total value of $31,162.68. Following the completion of the sale, the director now directly owns 8,659 shares of the company’s stock, valued at $333,544.68. This trade represents a 8.54 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,937 shares of company stock worth $570,418. 4.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tenable

A number of large investors have recently modified their holdings of the company. Norges Bank acquired a new position in Tenable during the fourth quarter worth $54,950,000. Shapiro Capital Management LLC raised its holdings in shares of Tenable by 647.5% in the 4th quarter. Shapiro Capital Management LLC now owns 1,060,055 shares of the company’s stock worth $41,745,000 after acquiring an additional 918,235 shares during the last quarter. Vanguard Group Inc. lifted its position in Tenable by 5.3% in the 4th quarter. Vanguard Group Inc. now owns 13,947,023 shares of the company’s stock valued at $549,234,000 after acquiring an additional 708,249 shares in the last quarter. Readystate Asset Management LP acquired a new position in Tenable during the 3rd quarter valued at about $24,660,000. Finally, Assenagon Asset Management S.A. acquired a new position in Tenable during the 4th quarter valued at about $15,653,000. 89.06% of the stock is currently owned by institutional investors.

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.