DA Davidson Cuts Tenable (NASDAQ:TENB) Price Target to $28.00

Tenable (NASDAQ:TENB) had its price objective lowered by investment analysts at DA Davidson from $45.00 to $28.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. DA Davidson’s price objective points to a potential downside of 8.91% from the stock’s current price. DA Davidson also issued estimates for Tenable’s FY2026 earnings at $0.40 EPS.

Several other equities research analysts have also recently commented on the stock. Barclays cut their price target on shares of Tenable from $48.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Monday, April 14th. Wells Fargo & Company decreased their price target on Tenable from $50.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday. Jefferies Financial Group dropped their price objective on Tenable from $45.00 to $37.00 and set a “hold” rating on the stock in a research note on Monday, March 31st. Cantor Fitzgerald began coverage on shares of Tenable in a report on Monday, March 31st. They set an “overweight” rating and a $50.00 target price on the stock. Finally, Stephens started coverage on shares of Tenable in a research note on Tuesday, April 1st. They issued an “equal weight” rating and a $42.00 price target for the company. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Tenable presently has an average rating of “Moderate Buy” and a consensus price target of $41.74.

Tenable Price Performance

Shares of NASDAQ TENB opened at $30.74 on Wednesday. The company has a fifty day moving average price of $34.63 and a 200 day moving average price of $38.91. Tenable has a 1-year low of $28.75 and a 1-year high of $49.18. The firm has a market cap of $3.69 billion, a PE ratio of -102.47 and a beta of 0.88. 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 (NASDAQ:TENB) last released its earnings results on Tuesday, April 29th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.28 by $0.08. Tenable had a negative return on equity of 2.07% and a negative net margin of 4.03%. The firm had revenue of $239.14 million for the quarter, compared to analysts’ expectations of $234.12 million. During the same quarter in the previous year, the business posted $0.25 EPS. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. Research analysts predict that Tenable will post 0.12 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Stephen A. Vintz sold 6,681 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $38.16, for a total value of $254,946.96. Following the completion of the sale, the chief executive officer now directly owns 316,523 shares in the company, valued at approximately $12,078,517.68. The trade was a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Mark C. Thurmond sold 1,341 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $39.56, for a total value of $53,049.96. Following the transaction, the chief executive officer now owns 41,266 shares in the company, valued at approximately $1,632,482.96. This trade represents a 3.15 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,128 shares of company stock valued at $539,256. 1.50% of the stock is owned by company insiders.

Institutional Trading of Tenable

Large investors have recently modified their holdings of the stock. Arizona State Retirement System lifted its position in Tenable by 1.0% during the fourth quarter. Arizona State Retirement System now owns 34,560 shares of the company’s stock worth $1,361,000 after purchasing an additional 332 shares during the period. Summit Investment Advisors Inc. boosted its position in shares of Tenable by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 12,336 shares of the company’s stock worth $486,000 after acquiring an additional 390 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in Tenable by 3.0% in the fourth quarter. Oppenheimer & Co. Inc. now owns 15,650 shares of the company’s stock valued at $616,000 after acquiring an additional 450 shares during the last quarter. Xponance Inc. raised its position in Tenable by 6.6% during the first quarter. Xponance Inc. now owns 9,021 shares of the company’s stock valued at $316,000 after purchasing an additional 562 shares in the last quarter. Finally, Tidal Investments LLC lifted its stake in Tenable by 1.8% during the fourth quarter. Tidal Investments LLC now owns 32,082 shares of the company’s stock worth $1,263,000 after purchasing an additional 564 shares during the last quarter. 89.06% of the stock is owned by institutional investors and hedge funds.

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.