Tenable (NASDAQ:TENB) Hits New 12-Month Low – What’s Next?

Tenable Holdings, Inc. (NASDAQ:TENB)’s share price hit a new 52-week low on Monday . The stock traded as low as $23.96 and last traded at $24.13, with a volume of 860511 shares trading hands. The stock had previously closed at $24.17.

Analyst Ratings Changes

Several analysts have commented on the company. Canaccord Genuity Group dropped their price objective on Tenable from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. JPMorgan Chase & Co. dropped their price target on shares of Tenable from $44.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday, October 27th. Wall Street Zen raised shares of Tenable from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. DA Davidson set a $32.00 price objective on shares of Tenable in a report on Thursday, October 30th. Finally, Needham & Company LLC cut their target price on shares of Tenable from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. Nine analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $37.94.

Tenable Price Performance

The stock’s 50-day moving average price is $26.93 and its 200 day moving average price is $29.71. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $2.87 billion, a price-to-earnings ratio of -89.25 and a beta of 0.73.

Tenable (NASDAQ:TENB) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.05. The business had revenue of $252.44 million for the quarter, compared to analysts’ expectations of $247.43 million. During the same period in the prior year, the company posted $0.32 EPS. The firm’s revenue was up 11.2% on a year-over-year basis. Tenable has set its FY 2025 guidance at 1.510-1.540 EPS and its Q4 2025 guidance at 0.390-0.430 EPS. Equities research analysts expect that Tenable Holdings, Inc. will post 0.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director A Brooke Seawell sold 115,000 shares of the firm’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $24.82, for a total transaction of $2,854,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Barron Anschutz sold 976 shares of Tenable 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 transaction, the insider directly owned 61,420 shares in the company, valued at $1,787,322. This trade represents a 1.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.50% of the company’s stock.

Institutional Trading of Tenable

Several institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. grew its position in Tenable by 47.2% in the first quarter. Raymond James Financial Inc. now owns 100,463 shares of the company’s stock worth $3,515,000 after acquiring an additional 32,226 shares during the period. Magnetar Financial LLC acquired a new position in shares of Tenable in the 1st quarter valued at $351,000. The Manufacturers Life Insurance Company grew its holdings in shares of Tenable by 16.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,129,790 shares of the company’s stock worth $39,520,000 after purchasing an additional 155,560 shares during the period. Royal Bank of Canada increased its position in shares of Tenable by 11.5% during the 1st quarter. Royal Bank of Canada now owns 124,839 shares of the company’s stock worth $4,367,000 after purchasing an additional 12,868 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its holdings in Tenable by 828.5% in the 1st quarter. Cubist Systematic Strategies LLC now owns 432,564 shares of the company’s stock valued at $15,131,000 after buying an additional 385,975 shares during the period. Hedge funds and other institutional investors own 89.06% of the company’s stock.

About Tenable

Tenable Holdings, Inc is a global cybersecurity company specializing in vulnerability management and continuous threat exposure assessment. Headquartered in Columbia, Maryland, Tenable was founded in 2002 by Ron Gula and Jack Huffard to address the growing need for proactive network security solutions. Over the years, the company has evolved from a pioneer in open-source vulnerability scanning to a leading provider of comprehensive security platforms that help organizations identify, investigate and prioritize cyber risks across on-premises, cloud and operational technology environments.

At the core of Tenable’s product suite is Nessus, one of the industry’s most widely adopted vulnerability scanners.