JPMorgan Chase & Co. Cuts Tenable (NASDAQ:TENB) Price Target to $40.00

Tenable (NASDAQ:TENB) had its price target reduced by JPMorgan Chase & Co. from $44.00 to $40.00 in a report published on Monday,Benzinga reports. They currently have an overweight rating on the stock.

TENB has been the topic of several other reports. Jefferies Financial Group reiterated a “hold” rating and issued a $38.00 target price (up from $37.00) on shares of Tenable in a research note on Thursday, July 31st. Wedbush lifted their target price on Tenable from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Needham & Company LLC lifted their target price on Tenable from $35.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. Scotiabank lifted their target price on Tenable from $30.00 to $37.00 and gave the company a “sector perform” rating in a research note on Thursday, July 31st. Finally, Stifel Nicolaus lifted their target price on Tenable from $30.00 to $35.00 and gave the company a “hold” rating in a research note on Thursday, July 31st. Nine investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $40.00.

Tenable Trading Down 5.6%

TENB opened at $28.64 on Monday. The firm has a market cap of $3.47 billion, a price-to-earnings ratio of -77.40 and a beta of 0.73. Tenable has a 52 week low of $28.45 and a 52 week high of $45.44. The business’s 50 day moving average is $29.97 and its two-hundred day moving average is $31.44. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.01.

Tenable (NASDAQ:TENB) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.30 by $0.04. The company had revenue of $247.30 million for the quarter, compared to analyst estimates of $242.15 million. Tenable had a negative return on equity of 3.32% and a negative net margin of 4.74%.The firm’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 earnings per share. On average, research analysts predict that Tenable will post 0.12 EPS for the current year.

Insiders Place Their Bets

In other Tenable news, insider Barron Anschutz sold 976 shares of the business’s stock in a transaction dated Friday, October 17th. The stock was sold at an average price of $29.10, for a total transaction of $28,401.60. Following the completion of the sale, the insider owned 61,420 shares of the company’s stock, valued at approximately $1,787,322. The trade was a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director A Brooke Seawell sold 4,622 shares of the business’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $30.12, for a total value of $139,214.64. Following the sale, the director directly owned 15,000 shares of the company’s stock, valued at approximately $451,800. This trade represents a 23.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 64,555 shares of company stock worth $1,951,065 in the last three months. Company insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Tenable

Several institutional investors and hedge funds have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC boosted its position in shares of Tenable by 63.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 13,627 shares of the company’s stock worth $398,000 after buying an additional 5,311 shares during the period. Stephens Investment Management Group LLC raised its position in shares of Tenable by 12.2% during the 3rd quarter. Stephens Investment Management Group LLC now owns 1,101,773 shares of the company’s stock worth $32,128,000 after purchasing an additional 120,145 shares during the period. Campbell & CO Investment Adviser LLC raised its position in shares of Tenable by 56.1% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 72,365 shares of the company’s stock worth $2,110,000 after purchasing an additional 26,001 shares during the period. Nordea Investment Management AB raised its position in shares of Tenable by 4.3% during the 3rd quarter. Nordea Investment Management AB now owns 344,116 shares of the company’s stock worth $10,084,000 after purchasing an additional 14,070 shares during the period. Finally, Janney Capital Management LLC raised its position in shares of Tenable by 104.4% during the 3rd quarter. Janney Capital Management LLC now owns 12,474 shares of the company’s stock worth $364,000 after purchasing an additional 6,371 shares during the period. Hedge funds and other institutional investors own 89.06% of the company’s stock.

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.