Tenable (NASDAQ:TENB) PT Lowered to $50.00 at Wells Fargo & Company

Tenable (NASDAQ:TENB) had its price objective reduced by equities researchers at Wells Fargo & Company from $60.00 to $50.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 24.16% from the stock’s current price.

TENB has been the topic of a number of other research reports. DA Davidson lowered Tenable from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $56.00 to $40.00 in a research 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. Wedbush reaffirmed an “outperform” rating and set a $65.00 target price on shares of Tenable in a report on Thursday, May 2nd. Baird R W raised Tenable to a “strong-buy” rating in a report on Monday, July 15th. Finally, Robert W. Baird cut their target price on Tenable from $55.00 to $53.00 and set an “outperform” rating on the stock in a report on Thursday. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.81.

Tenable Price Performance

TENB stock traded down $5.65 during midday trading on Thursday, reaching $40.27. 1,049,295 shares of the stock were exchanged, compared to its average volume of 945,241. The stock has a market capitalization of $4.79 billion, a PE ratio of -69.43 and a beta of 0.86. Tenable has a 52 week low of $33.85 and a 52 week 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 fifty day moving average price of $42.45 and a 200 day moving average price of $45.52.

Tenable (NASDAQ:TENB) last issued its quarterly earnings data on Wednesday, May 1st. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.03. The business had revenue of $215.96 million for the quarter, compared to analyst estimates of $213.56 million. Tenable had a negative return on equity of 10.40% and a negative net margin of 8.18%. As a group, analysts expect that Tenable will post -0.14 EPS for the current fiscal year.

Insider Activity

In other news, insider Mark C. Thurmond 4,700 shares of the stock in a transaction on Tuesday, July 30th. The was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Amit Yoran sold 4,851 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $15,817,358.32. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mark C. Thurmond 4,700 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The disclosure for this trade can be found here. Insiders sold a total of 24,132 shares of company stock valued at $1,049,183 over the last three months. Corporate insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Tenable

Several institutional investors have recently made changes to their positions in TENB. Principal Securities Inc. purchased a new stake in shares of Tenable during the fourth quarter worth $35,000. Fidelis Capital Partners LLC purchased a new stake in shares of Tenable during the first quarter worth $58,000. SG Americas Securities LLC purchased a new stake in shares of Tenable in the fourth quarter worth $127,000. Verity & Verity LLC purchased a new stake in shares of Tenable in the first quarter worth $127,000. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Tenable by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,708 shares of the company’s stock worth $183,000 after buying an additional 312 shares in the last quarter. Hedge funds and other 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.