Tenable (NASDAQ:TENB) Sets New 52-Week Low – Time to Sell?

Tenable Holdings, Inc. (NASDAQ:TENB)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $25.63 and last traded at $25.80, with a volume of 1248601 shares changing hands. The stock had previously closed at $26.06.

Analyst Upgrades and Downgrades

Several analysts have recently commented on TENB shares. UBS Group raised their target price on Tenable from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, July 31st. Weiss Ratings reissued a “sell (e+)” rating on shares of Tenable in a research note on Wednesday, October 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $42.00 target price on shares of Tenable in a research note on Thursday, October 23rd. Scotiabank dropped their target price on Tenable from $37.00 to $31.00 and set a “sector perform” rating on the stock in a report on Thursday, October 30th. Finally, Stifel Nicolaus raised their price target on shares of Tenable from $30.00 to $35.00 and gave the stock a “hold” rating in a report on Thursday, July 31st. Nine analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Tenable presently has a consensus rating of “Hold” and an average price target of $38.63.

Tenable Price Performance

The company has a market capitalization of $3.08 billion, a PE ratio of -95.56 and a beta of 0.71. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a 50 day moving average price of $29.15 and a two-hundred day moving average price of $31.02.

Tenable (NASDAQ:TENB) last released its quarterly earnings data on Wednesday, October 29th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.05. The firm had revenue of $252.44 million during the quarter, compared to analyst estimates of $247.43 million. The company’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.32 EPS. Tenable has set its FY 2025 guidance at 1.510-1.540 EPS. Q4 2025 guidance at 0.390-0.430 EPS. Equities analysts forecast that Tenable Holdings, Inc. will post 0.12 earnings per share for the current year.

Insider Buying and Selling at Tenable

In other Tenable news, CEO Mark C. Thurmond sold 28,500 shares of the firm’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $30.25, for a total transaction of $862,125.00. Following the transaction, the chief executive officer directly owned 102,322 shares in the company, valued at $3,095,240.50. This trade represents a 21.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director A Brooke Seawell sold 4,622 shares of the business’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $30.12, for a total value of $139,214.64. Following the completion of the sale, the director directly owned 15,000 shares of the company’s stock, valued at $451,800. This represents a 23.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 64,555 shares of company stock worth $1,951,065 over the last quarter. Company insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Quarry LP acquired a new stake in Tenable in the 3rd quarter worth approximately $25,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Tenable in the second quarter worth $37,000. Exchange Traded Concepts LLC bought a new stake in shares of Tenable during the 3rd quarter worth $45,000. Horizon Investments LLC acquired a new position in Tenable in the 3rd quarter valued at $45,000. Finally, Abich Financial Wealth Management LLC acquired a new position in Tenable in the 3rd quarter valued at $52,000. Institutional investors and hedge funds 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.