Barclays Issues Pessimistic Forecast for Tenable (NASDAQ:TENB) Stock Price

Tenable (NASDAQ:TENB) had its price target lowered by Barclays from $49.00 to $45.00 in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other research analysts have also commented on the company. Stifel Nicolaus decreased 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. Scotiabank decreased their price objective on shares of Tenable from $47.00 to $44.00 and set a “sector perform” rating for the company in a report on Thursday, August 1st. Westpark Capital reissued a “hold” rating on shares of Tenable in a report on Thursday. Morgan Stanley decreased their price target on shares of Tenable from $55.00 to $50.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Finally, Canaccord Genuity Group dropped their price objective on shares of Tenable from $57.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Five 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $50.81.

Tenable Stock Up 0.6 %

NASDAQ TENB traded up $0.25 during trading hours on Thursday, reaching $39.86. 257,128 shares of the company traded hands, compared to its average volume of 907,257. The stock has a market capitalization of $4.75 billion, a PE ratio of -77.67 and a beta of 0.83. 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 has a 12 month low of $33.85 and a 12 month high of $53.50. The company has a 50 day moving average of $40.76 and a two-hundred day moving average of $42.24.

Tenable (NASDAQ:TENB) last issued its earnings results on Wednesday, July 31st. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. The business had revenue of $221.24 million for the quarter, compared to analyst estimates of $218.41 million. Tenable had a negative net margin of 6.82% and a negative return on equity of 6.42%. As a group, equities analysts expect that Tenable will post -0.06 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Stephen A. Vintz sold 3,413 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $41.75, for a total transaction of $142,492.75. Following the transaction, the chief financial officer now owns 278,493 shares in the company, valued at $11,627,082.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Tenable news, CFO Stephen A. Vintz sold 3,413 shares of Tenable stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $41.75, for a total value of $142,492.75. Following the transaction, the chief financial officer now owns 278,493 shares in the company, valued at approximately $11,627,082.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Mark C. Thurmond sold 3,383 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $41.66, for a total value of $140,935.78. Following the sale, the chief operating officer now directly owns 34,079 shares of the company’s stock, valued at approximately $1,419,731.14. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,469 shares of company stock worth $520,276. 4.30% of the stock is owned by corporate insiders.

Institutional Trading of Tenable

A number of hedge funds have recently bought and sold shares of the company. Champlain Investment Partners LLC raised its holdings in shares of Tenable by 59.5% during the first quarter. Champlain Investment Partners LLC now owns 1,591,147 shares of the company’s stock valued at $78,650,000 after acquiring an additional 593,529 shares during the period. William Blair Investment Management LLC lifted its stake in Tenable by 20.2% in the 1st quarter. William Blair Investment Management LLC now owns 3,491,301 shares of the company’s stock worth $172,575,000 after acquiring an additional 585,559 shares in the last quarter. Mackenzie Financial Corp boosted its position in Tenable by 12.7% during the 2nd quarter. Mackenzie Financial Corp now owns 4,191,935 shares of the company’s stock worth $182,685,000 after acquiring an additional 471,126 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Tenable by 37.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 719,012 shares of the company’s stock valued at $31,335,000 after purchasing an additional 196,810 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in shares of Tenable in the 2nd quarter valued at about $7,740,000. 89.06% of the stock is owned by hedge funds and other 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.