Barclays Has Lowered Expectations for Tenable (NASDAQ:TENB) Stock Price

Tenable (NASDAQ:TENB) had its price objective dropped by research analysts at Barclays from $49.00 to $45.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price objective suggests a potential upside of 11.00% from the company’s current price.

Other analysts also recently issued research reports about the company. Jefferies Financial Group initiated coverage on Tenable in a research note on Wednesday, October 16th. They set a “hold” rating and a $45.00 price objective on the stock. Westpark Capital reaffirmed a “hold” rating on shares of Tenable in a research note on Thursday. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective on shares of Tenable in a research note on Tuesday. Scotiabank dropped their price target on Tenable from $47.00 to $44.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 1st. Finally, DA Davidson downgraded Tenable from a “buy” rating to a “neutral” rating and dropped their price target for the company from $56.00 to $40.00 in a research note on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $50.81.

Tenable Trading Down 1.7 %

TENB traded down $0.69 during mid-day trading on Thursday, reaching $40.54. The stock had a trading volume of 1,166,903 shares, compared to its average volume of 905,633. The stock has a market capitalization of $4.83 billion, a P/E ratio of -72.52 and a beta of 0.83. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.21 and a current ratio of 1.21. The firm’s fifty day simple moving average is $40.80 and its two-hundred day simple moving average is $42.26. Tenable has a 52 week low of $33.85 and a 52 week high of $53.50.

Tenable (NASDAQ:TENB) last posted its quarterly earnings results on Wednesday, July 31st. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.03. The business had revenue of $221.24 million for the quarter, compared to analyst estimates of $218.41 million. Tenable had a negative return on equity of 7.63% and a negative net margin of 7.77%. On average, equities analysts predict that Tenable will post -0.06 EPS for the current year.

Insider Buying and Selling

In related news, CFO Stephen A. Vintz sold 3,413 shares of Tenable stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $41.75, for a total transaction of $142,492.75. Following the completion of the transaction, the chief financial officer now owns 278,493 shares in the company, valued at approximately $11,627,082.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Stephen A. Vintz sold 3,413 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $41.75, for a total transaction of $142,492.75. Following the completion of the sale, the chief financial officer now owns 278,493 shares in the company, valued at $11,627,082.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Amit Yoran sold 5,673 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $41.75, for a total value of $236,847.75. Following the sale, the chief executive officer now owns 39,309 shares of the company’s stock, valued at approximately $1,641,150.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,469 shares of company stock worth $520,276. Company insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Tenable

A number of hedge funds and other institutional investors have recently made changes to their positions in TENB. Malaga Cove Capital LLC raised its position in Tenable by 55.3% during the third quarter. Malaga Cove Capital LLC now owns 14,071 shares of the company’s stock valued at $570,000 after purchasing an additional 5,008 shares in the last quarter. Emerald Advisers LLC raised its position in Tenable by 0.6% during the third quarter. Emerald Advisers LLC now owns 828,201 shares of the company’s stock valued at $33,559,000 after purchasing an additional 5,346 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in Tenable by 51.0% during the third quarter. Harbor Capital Advisors Inc. now owns 46,757 shares of the company’s stock valued at $1,895,000 after purchasing an additional 15,794 shares in the last quarter. Janney Capital Management LLC raised its position in Tenable by 34.0% during the third quarter. Janney Capital Management LLC now owns 7,551 shares of the company’s stock valued at $306,000 after purchasing an additional 1,914 shares in the last quarter. Finally, Pinnacle Associates Ltd. raised its position in Tenable by 1.0% during the third quarter. Pinnacle Associates Ltd. now owns 294,080 shares of the company’s stock valued at $11,916,000 after purchasing an additional 3,004 shares in the last quarter. 89.06% of the stock is currently owned by institutional investors and hedge funds.

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.