Tenable (NASDAQ:TENB) Rating Reiterated by Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Tenable (NASDAQ:TENB) in a report published on Tuesday morning, Benzinga reports. Needham & Company LLC currently has a $62.00 target price on the stock.

A number of other brokerages have also recently weighed in on TENB. Stephens raised their price objective on Tenable from $60.00 to $62.00 and gave the company an overweight rating in a report on Wednesday, February 7th. Wedbush reaffirmed an outperform rating and issued a $65.00 price objective on shares of Tenable in a research note on Wednesday, April 10th. Morgan Stanley upgraded shares of Tenable from an equal weight rating to an overweight rating and lifted their target price for the stock from $46.00 to $60.00 in a research report on Tuesday, January 9th. Susquehanna upped their price target on shares of Tenable from $55.00 to $60.00 and gave the company a positive rating in a research report on Thursday, February 8th. Finally, Westpark Capital raised Tenable from a hold rating to a buy rating and set a $65.00 price objective on the stock in a research note on Friday, January 12th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $57.20.

Tenable Trading Up 1.3 %

Shares of TENB opened at $45.99 on Tuesday. Tenable has a 1-year low of $33.85 and a 1-year high of $53.50. The company has a market capitalization of $5.46 billion, a P/E ratio of -67.63 and a beta of 0.94. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.19 and a quick ratio of 1.19. The firm’s 50 day simple moving average is $47.40 and its 200 day simple moving average is $45.12.

Tenable (NASDAQ:TENB) last posted its quarterly earnings data on Tuesday, February 6th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.06. Tenable had a negative net margin of 9.80% and a negative return on equity of 15.19%. The firm had revenue of $213.31 million for the quarter, compared to analysts’ expectations of $206.95 million. Sell-side analysts forecast that Tenable will post -0.12 earnings per share for the current fiscal year.

Insider Activity at Tenable

In other Tenable news, CFO Stephen A. Vintz sold 5,216 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $46.22, for a total transaction of $241,083.52. Following the transaction, the chief financial officer now directly owns 238,593 shares of the company’s stock, valued at approximately $11,027,768.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Tenable news, CFO Stephen A. Vintz sold 5,216 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $46.22, for a total transaction of $241,083.52. Following the transaction, the chief financial officer now owns 238,593 shares in the company, valued at approximately $11,027,768.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Stephen A. Vintz sold 15,505 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $49.56, for a total value of $768,427.80. Following the completion of the transaction, the chief financial officer now owns 257,924 shares of the company’s stock, valued at approximately $12,782,713.44. The disclosure for this sale can be found here. Insiders sold a total of 317,382 shares of company stock worth $15,021,615 over the last quarter. 4.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TENB. Vanderbilt University raised its stake in Tenable by 51.4% during the fourth quarter. Vanderbilt University now owns 65,313 shares of the company’s stock valued at $3,008,000 after buying an additional 22,187 shares during the last quarter. Mutual of America Capital Management LLC boosted its stake in Tenable by 39.3% in the 4th quarter. Mutual of America Capital Management LLC now owns 82,858 shares of the company’s stock worth $3,816,000 after purchasing an additional 23,385 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in Tenable by 60.0% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 32,000 shares of the company’s stock valued at $1,419,000 after purchasing an additional 12,000 shares during the last quarter. American Century Companies Inc. increased its stake in Tenable by 15.9% during the 3rd quarter. American Century Companies Inc. now owns 1,791,909 shares of the company’s stock valued at $80,278,000 after purchasing an additional 245,243 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Tenable by 6.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 801,267 shares of the company’s stock worth $36,906,000 after buying an additional 48,410 shares during the last quarter. 89.06% of the stock is currently owned by institutional investors.

Tenable Company Profile

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.