Tenable (NASDAQ:TENB) PT Lowered to $49.00 at Barclays

Tenable (NASDAQ:TENB) had its price target cut by analysts at Barclays from $57.00 to $49.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price objective points to a potential upside of 18.07% from the company’s previous close.

TENB has been the subject of several other reports. Wells Fargo & Company decreased their target price on shares of Tenable from $60.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday. Scotiabank began coverage on Tenable in a research report on Friday, April 26th. They set a “sector perform” rating and a $47.00 price target on the stock. Wedbush reiterated an “outperform” rating and issued a $65.00 target price on shares of Tenable in a report on Thursday, May 2nd. Piper Sandler lowered their target price on Tenable from $60.00 to $55.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, DA Davidson downgraded Tenable from a “buy” rating to a “neutral” rating and cut their price objective for the company from $56.00 to $40.00 in a research note on Thursday. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Tenable presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.88.

Tenable Price Performance

Tenable stock traded down $4.42 during mid-day trading on Thursday, reaching $41.50. The company had a trading volume of 3,289,875 shares, compared to its average volume of 960,484. The stock’s 50-day simple moving average is $42.45 and its 200-day simple moving average is $45.52. Tenable has a 1 year low of $33.85 and a 1 year high of $53.50. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.23 and a quick ratio of 1.23. The company has a market capitalization of $4.93 billion, a P/E ratio of -71.64 and a beta of 0.86.

Tenable (NASDAQ:TENB) last issued 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 company had revenue of $215.96 million during the quarter, compared to the consensus estimate of $213.56 million. Tenable had a negative return on equity of 10.40% and a negative net margin of 8.18%. On average, equities analysts predict that Tenable will post -0.14 EPS for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Tenable

Several institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new position in Tenable during the 4th quarter valued at approximately $127,000. Assenagon Asset Management S.A. bought a new stake in Tenable in the fourth quarter worth $1,404,000. Fulton Bank N.A. raised its stake in Tenable by 16.5% during the fourth quarter. Fulton Bank N.A. now owns 7,281 shares of the company’s stock valued at $335,000 after purchasing an additional 1,029 shares in the last quarter. Prime Capital Investment Advisors LLC lifted its position in Tenable by 0.4% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 121,194 shares of the company’s stock valued at $5,582,000 after purchasing an additional 474 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Tenable by 6.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 801,267 shares of the company’s stock valued at $36,906,000 after purchasing an additional 48,410 shares during the last quarter. 89.06% of the stock is owned by hedge funds and other institutional investors.

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.