Tenable (NASDAQ:TENB) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of Tenable (NASDAQ:TENB) from a hold rating to a buy rating in a research note issued to investors on Saturday morning, Zacks.com reports. The firm currently has $40.00 price objective on the stock.
According to Zacks, “Tenable Holdings, Inc. is a provider of Cyber Exposure solutions, which is a discipline for managing and measuring cybersecurity risk in the digital era. Tenable’s enterprise software platform enables broad visibility into an organization’s cyber exposure across the modern attack surface and deep insights that help organizations translate technical data into business insights to understand and reduce their cybersecurity risk. “
TENB has been the subject of several other reports. Piper Sandler raised their price objective on Tenable from $45.00 to $50.00 in a research note on Wednesday, October 28th. JPMorgan Chase & Co. lifted their price target on Tenable from $31.00 to $45.00 and gave the stock an overweight rating in a research note on Wednesday, July 29th. DA Davidson initiated coverage on shares of Tenable in a research note on Friday, September 25th. They set a buy rating and a $50.00 price objective for the company. SunTrust Banks upgraded shares of Tenable from a hold rating to a buy rating and raised their target price for the stock from $25.00 to $40.00 in a report on Wednesday, July 29th. Finally, Wedbush boosted their price target on shares of Tenable from $35.00 to $40.00 and gave the company an outperform rating in a report on Wednesday, July 29th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $41.82.
Tenable (NASDAQ:TENB) last issued its quarterly earnings results on Tuesday, October 27th. The company reported $0.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.21. Tenable had a negative return on equity of 68.33% and a negative net margin of 22.79%. On average, equities analysts anticipate that Tenable will post -0.57 EPS for the current year.
In other news, CEO Amit Yoran sold 45,000 shares of Tenable stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $36.96, for a total transaction of $1,663,200.00. Following the completion of the sale, the chief executive officer now directly owns 1,266,738 shares in the company, valued at approximately $46,818,636.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Stephen A. Riddick sold 2,420 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $38.36, for a total value of $92,831.20. Following the completion of the sale, the general counsel now directly owns 12,713 shares of the company’s stock, valued at approximately $487,670.68. The disclosure for this sale can be found here. Insiders have sold a total of 216,458 shares of company stock valued at $8,247,032 in the last three months. Company insiders own 16.40% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in TENB. Charles Schwab Investment Management Inc. lifted its stake in shares of Tenable by 42.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 361,146 shares of the company’s stock valued at $10,766,000 after purchasing an additional 106,836 shares during the last quarter. Great West Life Assurance Co. Can lifted its position in shares of Tenable by 279.4% in the second quarter. Great West Life Assurance Co. Can now owns 79,135 shares of the company’s stock worth $2,355,000 after buying an additional 58,278 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Tenable by 300.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 266,711 shares of the company’s stock worth $7,951,000 after acquiring an additional 200,029 shares in the last quarter. California State Teachers Retirement System increased its holdings in shares of Tenable by 61.3% during the 2nd quarter. California State Teachers Retirement System now owns 91,806 shares of the company’s stock valued at $2,737,000 after acquiring an additional 34,892 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in shares of Tenable by 24,063.1% in the 2nd quarter. Federated Hermes Inc. now owns 230,999 shares of the company’s stock valued at $6,886,000 after acquiring an additional 230,043 shares in the last quarter. Institutional investors own 78.13% of the company’s stock.
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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