Tenable (NASDAQ:TENB) Updates FY 2024 Earnings Guidance

Tenable (NASDAQ:TENB) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share guidance of 1.210-1.230 for the period, compared to the consensus earnings per share estimate of 1.220. The company issued revenue guidance of $893.3 million-$897.3 million, compared to the consensus revenue estimate of $896.0 million. Tenable also updated its Q4 2024 guidance to 0.330-0.350 EPS.

Tenable Stock Performance

NASDAQ:TENB opened at $38.97 on Wednesday. The company has a 50-day moving average of $41.22 and a 200-day moving average of $41.52. The firm has a market cap of $4.68 billion, a price-to-earnings ratio of -76.41 and a beta of 0.85. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.88. Tenable has a twelve month low of $35.25 and a twelve month high of $53.50.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Jefferies Financial Group lifted their price target on shares of Tenable from $40.00 to $45.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th. Westpark Capital restated a “hold” rating on shares of Tenable in a report on Thursday, October 31st. Morgan Stanley reaffirmed an “equal weight” rating and set a $47.00 target price (down from $50.00) on shares of Tenable in a report on Monday, December 2nd. Piper Sandler dropped their price target on Tenable from $55.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $50.00 target price on shares of Tenable in a report on Monday. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Tenable has an average rating of “Moderate Buy” and a consensus target price of $50.63.

Insider Activity at Tenable

In other Tenable news, CFO Stephen A. Vintz sold 2,801 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $40.72, for a total transaction of $114,056.72. Following the transaction, the chief financial officer now owns 281,536 shares in the company, valued at $11,464,145.92. This trade represents a 0.99 % 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, CEO Amit Yoran sold 4,828 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $40.72, for a total value of $196,596.16. Following the completion of the sale, the chief executive officer now directly owns 45,171 shares in the company, valued at approximately $1,839,363.12. This represents a 9.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,654 shares of company stock valued at $862,879. 4.30% of the stock is currently owned by corporate 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.