Tenable (NASDAQ:TENB) Updates Q4 2024 Earnings Guidance

Tenable (NASDAQ:TENB) updated its fourth quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.330-0.350 for the period, compared to the consensus earnings per share estimate of 0.330. The company issued revenue guidance of $229.0 million-$233.0 million, compared to the consensus revenue estimate of $232.0 million. Tenable also updated its FY 2024 guidance to 1.210-1.230 EPS.

Tenable Price Performance

Shares of NASDAQ TENB traded down $0.69 during mid-day trading on Thursday, hitting $40.54. 982,074 shares of the company’s stock traded hands, compared to its average volume of 904,981. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.21 and a quick ratio of 1.21. Tenable has a 1 year low of $33.85 and a 1 year high of $53.50. The company’s 50-day moving average is $40.80 and its two-hundred day moving average is $42.26. The company has a market capitalization of $4.83 billion, a P/E ratio of -73.00 and a beta of 0.83.

Tenable (NASDAQ:TENB) last posted its quarterly earnings data on Wednesday, July 31st. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.03. The business had revenue of $221.24 million during the quarter, compared to analyst estimates of $218.41 million. Tenable had a negative return on equity of 7.63% and a negative net margin of 7.77%. On average, equities analysts anticipate that Tenable will post -0.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Baird R W raised shares of Tenable to a “strong-buy” rating in a research note on Monday, July 15th. Truist Financial reiterated a “buy” rating and set a $55.00 price target (down from $60.00) on shares of Tenable in a report on Thursday, August 1st. Susquehanna decreased their price objective on shares of Tenable from $60.00 to $48.00 and set a “positive” rating for the company in a research note on Thursday, August 1st. Stifel Nicolaus dropped their target price on Tenable from $54.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Finally, Morgan Stanley reduced their price target on Tenable from $55.00 to $50.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $51.06.

Insider Buying and Selling

In other news, CEO Amit Yoran sold 5,673 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 39,309 shares in the company, valued at approximately $1,641,150.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Amit Yoran sold 5,673 shares of the company’s stock in a transaction on Monday, August 26th. The stock was 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 directly owns 39,309 shares in the company, valued at $1,641,150.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Mark C. Thurmond sold 3,383 shares of Tenable stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $41.66, for a total value of $140,935.78. Following the completion of the transaction, the chief operating officer now owns 34,079 shares in the company, valued at $1,419,731.14. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,469 shares of company stock valued at $520,276 over the last three months. 4.30% of the stock is owned by company insiders.

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.