Tenable (TENB) Stock Rating Reaffirmed by Wedbush

Tenable (NASDAQ:TENB)‘s stock had its “buy” rating reiterated by research analysts at Wedbush in a research note issued to investors on Tuesday, AnalystRatings.com reports. They currently have a $44.00 target price on the stock. Wedbush’s price objective suggests a potential upside of 52.88% from the stock’s current price.

TENB has been the topic of several other research reports. Zacks Investment Research upgraded Tenable from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research report on Saturday, February 9th. Summit Insights began coverage on Tenable in a research report on Monday, February 11th. They issued a “buy” rating on the stock. Finally, Morgan Stanley upgraded Tenable from an “equal” rating to an “overweight” rating and boosted their target price for the stock from $30.00 to $31.00 in a research report on Tuesday, January 15th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Tenable currently has an average rating of “Buy” and a consensus price target of $38.29.

Shares of TENB stock opened at $28.78 on Tuesday. The stock has a market capitalization of $2.63 billion and a P/E ratio of -21.16. Tenable has a 52-week low of $20.00 and a 52-week high of $39.38. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.56 and a current ratio of 1.60.

Tenable (NASDAQ:TENB) last issued its quarterly earnings results on Tuesday, April 30th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.05. The company had revenue of $80.30 million during the quarter, compared to analyst estimates of $78.37 million. The business’s revenue was up 35.9% on a year-over-year basis. As a group, equities research analysts forecast that Tenable will post -1.02 EPS for the current fiscal year.

In related news, General Counsel Stephen A. Riddick sold 25,000 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $35.04, for a total value of $876,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John C. Huffard, Jr. sold 15,350 shares of the stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $29.21, for a total value of $448,373.50. The disclosure for this sale can be found here. Insiders have sold a total of 439,513 shares of company stock worth $14,205,259 in the last quarter. 31.90% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in TENB. JPMorgan Chase & Co. acquired a new stake in shares of Tenable during the third quarter valued at about $113,000. Bank of New York Mellon Corp acquired a new stake in shares of Tenable during the third quarter valued at about $1,199,000. BlackRock Inc. acquired a new stake in shares of Tenable during the third quarter valued at about $35,775,000. MetLife Investment Advisors LLC acquired a new stake in shares of Tenable during the third quarter valued at about $527,000. Finally, Teachers Advisors LLC acquired a new stake in shares of Tenable during the third quarter valued at about $891,000. Institutional investors own 42.25% of the company’s stock.

About Tenable

Tenable Holdings, Inc provides cybersecurity solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company enterprise software platform enables visibility into an organization's cyber exposure across the attack surface and deep insights that help organizations translate vulnerability data into business insights to understand and reduce their cybersecurity risk.

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Analyst Recommendations for Tenable (NASDAQ:TENB)

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