Tenable (NASDAQ:TENB) Releases FY 2024 Earnings Guidance

Tenable (NASDAQ:TENB) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 1.210-1.230 for the period, compared to the consensus 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.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TENB. Jefferies Financial Group began coverage on shares of Tenable in a research report on Wednesday, October 16th. They issued a “hold” rating and a $45.00 price objective for the company. Canaccord Genuity Group cut their price objective on shares of Tenable from $57.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Robert W. Baird cut 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 lowered shares of Tenable from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Stifel Nicolaus lowered their target price on shares of Tenable from $54.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $51.38.

Tenable Price Performance

Shares of TENB stock traded down $0.57 during trading hours on Wednesday, hitting $41.23. 1,323,481 shares of the company’s stock were exchanged, compared to its average volume of 904,614. The company has a market capitalization of $4.91 billion, a PE ratio of -73.63 and a beta of 0.83. Tenable has a 12-month low of $33.85 and a 12-month high of $53.50. The business’s 50 day simple moving average is $40.83 and its 200-day simple moving average is $42.27. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.98.

Tenable (NASDAQ:TENB) last posted 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. Tenable had a negative net margin of 7.77% and a negative return on equity of 7.63%. The firm had revenue of $221.24 million for the quarter, compared to the consensus estimate of $218.41 million. On average, equities research analysts anticipate that Tenable will post -0.06 earnings per share for the current year.

Insider Transactions at Tenable

In other news, COO Mark C. Thurmond sold 3,383 shares of the firm’s 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 transaction, the chief operating officer now owns 34,079 shares in the company, valued at approximately $1,419,731.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Mark C. Thurmond sold 3,383 shares of Tenable stock in a transaction 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 sale, the chief operating officer now owns 34,079 shares in the company, valued at $1,419,731.14. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Amit Yoran sold 5,673 shares of Tenable stock in a transaction on Monday, August 26th. The shares were sold at an average price of $41.75, for a total transaction of $236,847.75. Following the completion of the sale, the chief executive officer now owns 39,309 shares in the company, valued at approximately $1,641,150.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,469 shares of company stock worth $520,276. Insiders own 4.30% 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.