Tenable (NASDAQ:TENB) Updates FY24 Earnings Guidance

Tenable (NASDAQ:TENB) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $1.08-1.12 for the period, compared to the consensus estimate of $1.08. The company issued revenue guidance of $900-908 million, compared to the consensus revenue estimate of $901.62 million. Tenable also updated its FY 2024 guidance to 1.080-1.120 EPS.

Tenable Price Performance

TENB traded down $0.61 during midday trading on Friday, hitting $44.60. 954,961 shares of the company traded hands, compared to its average volume of 792,766. The business has a 50 day simple moving average of $47.06 and a two-hundred day simple moving average of $45.18. Tenable has a 52-week low of $33.85 and a 52-week high of $53.50. The company has a market capitalization of $5.30 billion, a price-to-earnings ratio of -76.90 and a beta of 0.94. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.04.

Tenable (NASDAQ:TENB) last issued its quarterly earnings results on Tuesday, February 6th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.06. Tenable had a negative net margin of 8.18% and a negative return on equity of 10.59%. The firm had revenue of $213.31 million for the quarter, compared to analyst estimates of $206.95 million. On average, equities analysts forecast that Tenable will post -0.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on TENB shares. Truist Financial raised their price objective on Tenable from $50.00 to $60.00 and gave the company a buy rating in a report on Wednesday, February 7th. Wells Fargo & Company boosted their price target on shares of Tenable from $55.00 to $60.00 and gave the stock an overweight rating in a research report on Wednesday, February 7th. Wedbush reissued an outperform rating and issued a $65.00 target price on shares of Tenable in a research note on Thursday. Stephens boosted their target price on Tenable from $60.00 to $62.00 and gave the stock an overweight rating in a report on Wednesday, February 7th. Finally, Morgan Stanley upgraded Tenable from an equal weight rating to an overweight rating and lifted their price objective for the stock from $46.00 to $60.00 in a research report on Tuesday, January 9th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Tenable presently has a consensus rating of Moderate Buy and an average target price of $57.20.

Insider Buying and Selling

In other Tenable news, Director Linda Kay Zecher sold 2,600 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $50.75, for a total transaction of $131,950.00. Following the transaction, the director now directly owns 2 shares in the company, valued at $101.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Stephen A. Vintz sold 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $46.93, for a total value of $9,386,000.00. Following the completion of the transaction, the chief financial officer now owns 257,256 shares of the company’s stock, valued at $12,073,024.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Linda Kay Zecher sold 2,600 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $50.75, for a total transaction of $131,950.00. Following the sale, the director now directly owns 2 shares in the company, valued at $101.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 317,382 shares of company stock valued at $15,021,615. Company insiders own 4.30% of the company’s stock.

Tenable Company Profile

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.