Tenable (NASDAQ:TENB) Issues FY 2024 Earnings Guidance

Tenable (NASDAQ:TENB) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share guidance of 1.210-1.230 for the period, compared to the consensus earnings per share estimate of 1.220. The company issued revenue guidance of $893.3 million-$897.3 million, compared to the consensus revenue estimate of $896.0 million. Tenable also updated its Q4 2024 guidance to 0.330-0.350 EPS.

Tenable Stock Performance

NASDAQ TENB opened at $39.08 on Monday. The stock has a fifty day simple moving average of $41.28 and a 200 day simple moving average of $41.51. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $4.69 billion, a price-to-earnings ratio of -76.63 and a beta of 0.83. Tenable has a twelve month low of $35.25 and a twelve month high of $53.50.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TENB shares. Jefferies Financial Group increased their price objective on shares of Tenable from $40.00 to $45.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th. Piper Sandler dropped their price objective on Tenable from $55.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Barclays reduced their price objective on shares of Tenable from $49.00 to $45.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Needham & Company LLC restated a “buy” rating and issued a $50.00 price target on shares of Tenable in a report on Tuesday, October 29th. Finally, Robert W. Baird decreased their price target on shares of Tenable from $53.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Tenable currently has an average rating of “Moderate Buy” and an average target price of $50.63.

Insider Transactions at Tenable

In related news, COO Mark C. Thurmond sold 2,343 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $42.74, for a total transaction of $100,139.82. Following the sale, the chief operating officer now directly owns 37,188 shares in the company, valued at approximately $1,589,415.12. This represents a 5.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Stephen A. Vintz sold 2,801 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $40.72, for a total transaction of $114,056.72. Following the sale, the chief financial officer now directly owns 281,536 shares in the company, valued at $11,464,145.92. The trade was a 0.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,654 shares of company stock worth $862,879. 4.30% of the stock is owned by company insiders.

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.