Tenable (NASDAQ:TENB) Price Target Raised to $39.00

Tenable (NASDAQ:TENB) had its price target raised by analysts at Barclays from $33.00 to $39.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price target would suggest a potential upside of 19.05% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Cantor Fitzgerald started 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. Westpark Capital reissued a “hold” rating on shares of Tenable in a research note on Wednesday, April 30th. Robert W. Baird decreased their target price on shares of Tenable from $44.00 to $40.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. Wells Fargo & Company decreased their target price on shares of Tenable from $50.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. Finally, UBS Group decreased their target price on shares of Tenable from $47.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. Eight analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $40.78.

Tenable Trading Up 0.6%

Shares of Tenable stock opened at $32.76 on Monday. The firm has a market capitalization of $4.00 billion, a PE ratio of -88.54 and a beta of 0.80. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.04 and a quick ratio of 1.04. The company’s fifty day moving average price is $32.77 and its two-hundred day moving average price is $35.71. Tenable has a 52-week low of $28.75 and a 52-week high of $49.18.

Tenable (NASDAQ:TENB) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.08. Tenable had a negative net margin of 4.86% and a negative return on equity of 3.11%. The business had revenue of $239.14 million for the quarter, compared to analyst estimates of $234.12 million. During the same quarter last year, the firm earned $0.25 EPS. Tenable’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, analysts expect that Tenable will post 0.12 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Mark C. Thurmond sold 5,577 shares of the company’s stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $31.98, for a total value of $178,352.46. Following the sale, the chief executive officer directly owned 75,210 shares of the company’s stock, valued at $2,405,215.80. This represents a 6.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Barron Anschutz sold 1,245 shares of the company’s stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $31.98, for a total transaction of $39,815.10. Following the completion of the transaction, the insider owned 57,905 shares in the company, valued at approximately $1,851,801.90. The trade was a 2.10% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,845 shares of company stock worth $637,709. 1.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tenable

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Tenable by 858.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 642 shares of the company’s stock valued at $25,000 after acquiring an additional 575 shares during the period. Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of Tenable in the 4th quarter worth approximately $35,000. Byrne Asset Management LLC lifted its stake in shares of Tenable by 115.4% in the 1st quarter. Byrne Asset Management LLC now owns 1,357 shares of the company’s stock worth $47,000 after purchasing an additional 727 shares during the period. Johnson Financial Group Inc. bought a new position in shares of Tenable in the 4th quarter worth approximately $53,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Tenable in the 1st quarter worth approximately $69,000. 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.