Tenable (NASDAQ:TENB) Given New $24.00 Price Target at Jefferies Financial Group

Tenable (NASDAQ:TENB) had its price objective cut by research analysts at Jefferies Financial Group from $29.00 to $24.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Jefferies Financial Group’s target price would indicate a potential upside of 8.99% from the company’s previous close.

A number of other brokerages have also commented on TENB. Wall Street Zen upgraded shares of Tenable from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 25th. Needham & Company LLC dropped their price target on Tenable from $38.00 to $28.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Truist Financial set a $27.00 price objective on shares of Tenable in a report on Tuesday, January 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 price target on shares of Tenable in a research report on Friday. Finally, DA Davidson dropped their price target on Tenable from $32.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday. Ten equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $34.41.

Tenable Trading Down 0.2%

Shares of TENB stock traded down $0.04 during mid-day trading on Monday, reaching $22.02. 2,164,077 shares of the stock traded hands, compared to its average volume of 1,755,709. The company has a market cap of $2.63 billion, a price-to-earnings ratio of -81.56 and a beta of 0.63. Tenable has a 1-year low of $21.26 and a 1-year high of $43.68. The stock’s fifty day simple moving average is $24.26 and its two-hundred day simple moving average is $27.87. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.03.

Insider Buying and Selling

In other Tenable news, Director A Brooke Seawell sold 115,000 shares of Tenable stock in a transaction on Monday, December 15th. The shares were sold at an average price of $24.82, for a total value of $2,854,300.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Tenable

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TENB. Quarry LP purchased a new position in shares of Tenable in the 3rd quarter valued at approximately $25,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Tenable in the second quarter valued at approximately $37,000. Signaturefd LLC grew its stake in Tenable by 312.9% during the 4th quarter. Signaturefd LLC now owns 1,251 shares of the company’s stock valued at $29,000 after acquiring an additional 948 shares in the last quarter. Exchange Traded Concepts LLC purchased a new position in shares of Tenable during the 3rd quarter worth $45,000. Finally, Horizon Investments LLC acquired a new position in Tenable in the third quarter valued at approximately $45,000. 89.06% of the stock is owned by institutional investors.

Tenable Company Profile

Tenable Holdings, Inc is a global cybersecurity company specializing in vulnerability management and continuous threat exposure assessment. Headquartered in Columbia, Maryland, Tenable was founded in 2002 by Ron Gula and Jack Huffard to address the growing need for proactive network security solutions. Over the years, the company has evolved from a pioneer in open-source vulnerability scanning to a leading provider of comprehensive security platforms that help organizations identify, investigate and prioritize cyber risks across on-premises, cloud and operational technology environments.

At the core of Tenable’s product suite is Nessus, one of the industry’s most widely adopted vulnerability scanners.