Tenable (NASDAQ:TENB) Updates FY 2024 Earnings Guidance

Tenable (NASDAQ:TENB) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 1.210-1.230 for the period, compared to the consensus earnings per share estimate of 1.180. The company issued revenue guidance of $893.3 million-$897.3 million, compared to the consensus revenue estimate of $892.6 million. Tenable also updated its FY24 guidance to $1.21-$1.23 EPS.

Tenable Stock Down 1.4 %

Shares of TENB traded down $0.57 during trading hours on Wednesday, hitting $41.23. The company had a trading volume of 1,323,481 shares, compared to its average volume of 904,614. The firm has a fifty day moving average price of $40.83 and a 200-day moving average price of $42.27. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a market capitalization of $4.91 billion, a price-to-earnings ratio of -73.63 and a beta of 0.83. Tenable has a 52-week low of $33.85 and a 52-week high of $53.50.

Tenable (NASDAQ:TENB) last posted its quarterly earnings results on Wednesday, July 31st. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.03. The firm had revenue of $221.24 million during the quarter, compared to analyst estimates of $218.41 million. Tenable had a negative return on equity of 7.63% and a negative net margin of 7.77%. On average, equities research analysts forecast that Tenable will post -0.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TENB. Scotiabank decreased their target price on Tenable from $47.00 to $44.00 and set a “sector perform” rating for the company in a research report on Thursday, August 1st. Susquehanna decreased their target price on Tenable from $60.00 to $48.00 and set a “positive” rating for the company in a research report on Thursday, August 1st. Morgan Stanley decreased their target price on Tenable from $55.00 to $50.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. DA Davidson lowered Tenable from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $56.00 to $40.00 in a research report on Thursday, August 1st. Finally, Barclays decreased their target price on Tenable from $57.00 to $49.00 and set an “equal weight” rating for the company in a research report on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.38.

Insider Activity at Tenable

In related news, CEO Amit Yoran sold 5,673 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $41.75, for a total transaction of $236,847.75. Following the completion of the transaction, the chief executive officer now directly owns 39,309 shares in the company, valued at approximately $1,641,150.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Tenable news, CEO Amit Yoran sold 5,673 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $41.75, for a total value of $236,847.75. Following the completion of the transaction, the chief executive officer now directly owns 39,309 shares in the company, valued at $1,641,150.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Stephen A. Vintz sold 3,413 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $41.75, for a total value of $142,492.75. Following the completion of the transaction, the chief financial officer now owns 278,493 shares of the company’s stock, valued at $11,627,082.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,469 shares of company stock worth $520,276. 4.30% of the stock is owned by company insiders.

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.