Tenable’s (TENB) “Buy” Rating Reiterated at Needham & Company LLC

Tenable (NASDAQ:TENBGet Free Report)‘s stock had its “buy” rating restated by Needham & Company LLC in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $62.00 price objective on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 38.08% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Wells Fargo & Company raised their price target on Tenable from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Truist Financial upped their target price on shares of Tenable from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Stephens boosted their price objective on shares of Tenable from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Scotiabank assumed coverage on Tenable in a research note on Friday, April 26th. They set a “sector perform” rating and a $47.00 target price on the stock. Finally, Susquehanna upped their price target on Tenable from $55.00 to $60.00 and gave the company a “positive” rating in a report on Thursday, February 8th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $57.20.

Read Our Latest Research Report on TENB

Tenable Stock Performance

Shares of TENB opened at $44.90 on Tuesday. Tenable has a 52 week low of $33.85 and a 52 week high of $53.50. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.00. The stock has a market cap of $5.34 billion, a P/E ratio of -77.41 and a beta of 0.94. The business’s 50 day moving average price is $46.76 and its 200-day moving average price is $45.31.

Insider Activity at Tenable

In other news, CFO Stephen A. Vintz sold 15,505 shares of Tenable stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $49.56, for a total transaction of $768,427.80. Following the sale, the chief financial officer now owns 257,924 shares in the company, valued at $12,782,713.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Stephen A. Vintz sold 200,000 shares of Tenable stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $46.93, for a total transaction of $9,386,000.00. Following the completion of the transaction, the chief financial officer now directly owns 257,256 shares of the company’s stock, valued at approximately $12,073,024.08. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Stephen A. Vintz sold 15,505 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $49.56, for a total value of $768,427.80. Following the transaction, the chief financial officer now directly owns 257,924 shares in the company, valued at approximately $12,782,713.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 310,806 shares of company stock worth $14,701,441. 4.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tenable

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Tenable by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 12,543,352 shares of the company’s stock worth $620,018,000 after buying an additional 32,535 shares during the period. First Trust Advisors LP raised its stake in Tenable by 18.0% in the fourth quarter. First Trust Advisors LP now owns 4,452,555 shares of the company’s stock worth $205,085,000 after buying an additional 680,477 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in Tenable by 20.2% during the first quarter. William Blair Investment Management LLC now owns 3,491,301 shares of the company’s stock worth $172,575,000 after buying an additional 585,559 shares during the period. Mackenzie Financial Corp boosted its position in Tenable by 0.5% during the 4th quarter. Mackenzie Financial Corp now owns 3,038,152 shares of the company’s stock valued at $139,937,000 after acquiring an additional 16,515 shares in the last quarter. Finally, Westfield Capital Management Co. LP raised its position in shares of Tenable by 11.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 2,195,092 shares of the company’s stock worth $98,340,000 after acquiring an additional 227,977 shares in the last quarter. 89.06% of the stock is owned by hedge funds and other institutional investors.

Tenable Company Profile

(Get Free Report)

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.

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