What is Scotiabank’s Estimate for Tenable FY2024 Earnings?

Tenable Holdings, Inc. (NASDAQ:TENB) – Research analysts at Scotiabank increased their FY2024 earnings per share estimates for shares of Tenable in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst P. Colville now expects that the company will post earnings of ($0.02) per share for the year, up from their previous forecast of ($0.06). The consensus estimate for Tenable’s current full-year earnings is ($0.02) per share. Scotiabank also issued estimates for Tenable’s FY2025 earnings at $0.10 EPS.

A number of other research firms also recently weighed in on TENB. Barclays dropped their price target on shares of Tenable from $49.00 to $45.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Needham & Company LLC reissued a “buy” rating and set a $50.00 target price on shares of Tenable in a research note on Monday. Robert W. Baird dropped their price target on Tenable from $53.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Morgan Stanley reissued an “equal weight” rating and set a $47.00 price target (down from $50.00) on shares of Tenable in a research report on Monday, December 2nd. Finally, Jefferies Financial Group increased 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. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $50.63.

Tenable Stock Performance

Tenable stock opened at $38.89 on Friday. Tenable has a 12-month low of $35.25 and a 12-month high of $53.50. The stock has a 50-day simple moving average of $41.17 and a 200 day simple moving average of $41.51. The stock has a market capitalization of $4.67 billion, a price-to-earnings ratio of -76.25 and a beta of 0.85. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.88.

Insiders Place Their Bets

In other Tenable news, CEO Amit Yoran sold 4,828 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $40.72, for a total value of $196,596.16. Following the sale, the chief executive officer now owns 45,171 shares of the company’s stock, valued at $1,839,363.12. This trade represents a 9.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Mark C. Thurmond sold 2,209 shares of the company’s stock in a transaction that occurred 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 transaction, the chief operating officer now owns 35,480 shares of the company’s stock, valued at approximately $1,444,745.60. This represents a 5.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,654 shares of company stock worth $862,879 in the last ninety days. 4.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TENB. Covestor Ltd boosted its position in Tenable by 84.5% in the third quarter. Covestor Ltd now owns 631 shares of the company’s stock worth $26,000 after purchasing an additional 289 shares during the last quarter. Larson Financial Group LLC lifted its holdings in Tenable by 658.6% in the 3rd quarter. Larson Financial Group LLC now owns 751 shares of the company’s stock worth $30,000 after purchasing an additional 652 shares in the last quarter. Quest Partners LLC bought a new position in shares of Tenable during the second quarter worth $40,000. Truvestments Capital LLC purchased a new position in shares of Tenable during the third quarter valued at about $171,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Tenable during the 2nd quarter valued at approximately $200,000. 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.