Tenable (NASDAQ:TENB) Price Target Cut to $45.00 by Analysts at Truist Financial

Tenable (NASDAQ:TENB) had its price objective cut by Truist Financial from $48.00 to $45.00 in a research report report published on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts have also recently issued reports about the company. Barclays upped their price objective on Tenable from $45.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Morgan Stanley initiated coverage on Tenable in a report on Tuesday, March 18th. They set an “equal weight” rating and a $40.00 price target on the stock. Jefferies Financial Group lifted their price objective on Tenable from $40.00 to $45.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Stifel Nicolaus cut shares of Tenable from a “buy” rating to a “hold” rating and lowered their target price for the company from $46.00 to $45.00 in a research note on Friday, January 17th. Finally, Scotiabank raised their price target on shares of Tenable from $44.00 to $45.00 and gave the company a “sector perform” rating in a report on Tuesday, January 21st. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $48.13.

Tenable Price Performance

TENB opened at $34.98 on Monday. The firm has a market cap of $4.21 billion, a PE ratio of -116.60 and a beta of 0.87. The stock has a 50-day moving average price of $39.03 and a 200-day moving average price of $40.31. Tenable has a 1 year low of $33.84 and a 1 year high of $50.07. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.28 and a quick ratio of 1.28.

Tenable (NASDAQ:TENB) last issued its earnings results on Wednesday, February 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.26). Tenable had a negative return on equity of 2.07% and a negative net margin of 4.03%. Sell-side analysts predict that Tenable will post 0.12 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Raymond Jr. Vicks sold 809 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $38.52, for a total transaction of $31,162.68. Following the completion of the transaction, the director now directly owns 8,659 shares in the company, valued at approximately $333,544.68. The trade was a 8.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Stephen A. Vintz sold 6,681 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $38.16, for a total transaction of $254,946.96. Following the sale, the chief executive officer now owns 316,523 shares in the company, valued at approximately $12,078,517.68. The trade was a 2.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,937 shares of company stock valued at $570,418 in the last 90 days. Company insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TENB. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Tenable by 858.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 642 shares of the company’s stock valued at $25,000 after acquiring an additional 575 shares during the period. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of Tenable during the fourth quarter worth about $35,000. SBI Securities Co. Ltd. bought a new stake in Tenable during the 4th quarter valued at approximately $38,000. Johnson Financial Group Inc. purchased a new position in Tenable in the 4th quarter worth approximately $53,000. Finally, Larson Financial Group LLC boosted its stake in Tenable by 89.9% in the 4th quarter. Larson Financial Group LLC now owns 1,426 shares of the company’s stock worth $56,000 after purchasing an additional 675 shares during the period. 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.