Tenable (NASDAQ:TENB) Given a $38.00 Price Target by Stifel Nicolaus Analysts

Tenable (NASDAQ:TENB) has been given a $38.00 target price by equities research analysts at Stifel Nicolaus in a report issued on Wednesday, TipRanks reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ target price points to a potential upside of 55.04% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Deutsche Bank set a $38.00 target price on Tenable and gave the company a “buy” rating in a report on Wednesday. Nomura set a $29.00 target price on Tenable and gave the company a “hold” rating in a report on Wednesday. Wedbush reissued a “buy” rating and set a $44.00 price objective on shares of Tenable in a report on Wednesday. Zacks Investment Research raised Tenable from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a report on Saturday, May 4th. Finally, Cowen began coverage on Tenable in a report on Thursday, May 23rd. They set an “outperform” rating and a $36.00 price objective on the stock. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $36.45.

Shares of TENB stock traded down $0.22 during trading hours on Wednesday, reaching $24.51. The company’s stock had a trading volume of 632,777 shares, compared to its average volume of 737,227. The company’s 50 day moving average is $28.93. The firm has a market capitalization of $2.36 billion and a P/E ratio of -18.02. Tenable has a fifty-two week low of $20.00 and a fifty-two week high of $39.38. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.06.

Tenable (NASDAQ:TENB) last issued its earnings results on Tuesday, July 30th. The company reported ($0.10) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.27) by $0.17. The business had revenue of $85.38 million during the quarter, compared to analyst estimates of $82.73 million. The company’s revenue for the quarter was up 34.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.18) EPS. On average, research analysts expect that Tenable will post -1.02 EPS for the current year.

In other Tenable news, CEO Amit Yoran sold 10,000 shares of Tenable stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $27.90, for a total transaction of $279,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John C. Huffard, Jr. sold 30,700 shares of Tenable stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $26.65, for a total value of $818,155.00. The disclosure for this sale can be found here. Insiders have sold a total of 136,768 shares of company stock worth $3,942,080 over the last ninety days. Company insiders own 31.90% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in TENB. New York State Common Retirement Fund acquired a new position in Tenable during the 4th quarter worth about $311,000. BlackRock Inc. raised its position in shares of Tenable by 3.9% in the 4th quarter. BlackRock Inc. now owns 955,614 shares of the company’s stock worth $21,206,000 after acquiring an additional 35,472 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Tenable by 17.8% in the 4th quarter. Bank of New York Mellon Corp now owns 36,336 shares of the company’s stock worth $806,000 after acquiring an additional 5,497 shares in the last quarter. Raymond James & Associates bought a new position in shares of Tenable in the 4th quarter worth about $294,000. Finally, Geode Capital Management LLC raised its position in shares of Tenable by 17.5% in the 4th quarter. Geode Capital Management LLC now owns 187,975 shares of the company’s stock worth $4,171,000 after acquiring an additional 27,967 shares in the last quarter. 53.50% of the stock is currently owned by hedge funds and other institutional investors.

Tenable Company Profile

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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