Tenable (NASDAQ:TENB) Given New $50.00 Price Target at Needham & Company LLC

Tenable (NASDAQ:TENB) had its target price cut by analysts at Needham & Company LLC from $62.00 to $50.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price target indicates a potential upside of 17.70% from the company’s current price.

Several other research analysts have also recently commented on the stock. Wells Fargo & Company lowered their target price on shares of Tenable from $60.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday. Stifel Nicolaus lowered their target price on shares of Tenable from $54.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday. Westpark Capital reaffirmed a “buy” rating and set a $54.00 target price on shares of Tenable in a report on Monday. Barclays lowered their target price on shares of Tenable from $57.00 to $49.00 and set an “equal weight” rating on the stock in a report on Thursday. Finally, Baird R W raised shares of Tenable to a “strong-buy” rating in a report on Monday, July 15th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $53.00.

Tenable Stock Performance

Tenable stock traded down $3.44 during trading hours on Thursday, hitting $42.48. The company had a trading volume of 5,027,494 shares, compared to its average volume of 969,319. The firm has a market cap of $5.05 billion, a PE ratio of -73.24 and a beta of 0.86. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.23 and a quick ratio of 1.23. Tenable has a one year low of $33.85 and a one year high of $53.50. The firm has a 50-day moving average of $42.45 and a 200 day moving average of $45.52.

Tenable (NASDAQ:TENB) last released its quarterly earnings results on Wednesday, May 1st. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.03. The firm had revenue of $215.96 million for the quarter, compared to analysts’ expectations of $213.56 million. Tenable had a negative net margin of 8.18% and a negative return on equity of 10.40%. On average, sell-side analysts expect that Tenable will post -0.14 earnings per share for the current year.

Insider Transactions at Tenable

In other news, CEO Amit Yoran sold 4,851 shares of Tenable stock in a transaction on Monday, May 20th. The shares were sold at an average price of $43.76, for a total transaction of $212,279.76. Following the transaction, the chief executive officer now owns 361,457 shares in the company, valued at $15,817,358.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Tenable news, Director Yoran Amit 70,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Amit Yoran sold 4,851 shares of Tenable stock in a transaction on Monday, May 20th. The stock was sold at an average price of $43.76, for a total transaction of $212,279.76. Following the transaction, the chief executive officer now directly owns 361,457 shares of the company’s stock, valued at approximately $15,817,358.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,132 shares of company stock worth $1,049,183. Company insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Tenable

A number of hedge funds have recently bought and sold shares of the company. Principal Securities Inc. bought a new stake in Tenable in the fourth quarter valued at $35,000. Fidelis Capital Partners LLC bought a new stake in Tenable in the first quarter valued at $58,000. Verity & Verity LLC bought a new stake in Tenable in the first quarter valued at $127,000. SG Americas Securities LLC bought a new stake in Tenable in the fourth quarter valued at $127,000. Finally, Allspring Global Investments Holdings LLC increased its stake in Tenable by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,708 shares of the company’s stock valued at $183,000 after purchasing an additional 312 shares in the last quarter. 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.