Tenable (NASDAQ:TENB) Releases FY 2024 Earnings Guidance

Tenable (NASDAQ:TENB) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of 1.210-1.230 for the period, compared to the consensus EPS estimate of 1.220. The company issued revenue guidance of $893.3 million-$897.3 million, compared to the consensus revenue estimate of $896.0 million. Tenable also updated its Q4 2024 guidance to 0.330-0.350 EPS.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Robert W. Baird decreased their target price on shares of Tenable from $53.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Needham & Company LLC restated a “buy” rating and set a $50.00 target price on shares of Tenable in a report on Monday. Morgan Stanley reaffirmed an “equal weight” rating and issued a $47.00 price target (down from $50.00) on shares of Tenable in a report on Monday, December 2nd. Jefferies Financial Group raised their price objective on shares of Tenable from $40.00 to $45.00 and gave the company a “hold” rating in a research report on Thursday, December 19th. Finally, Westpark Capital reissued a “hold” rating on shares of Tenable in a report on Thursday, October 31st. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $50.63.

Tenable Trading Down 3.0 %

NASDAQ TENB opened at $38.97 on Wednesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.28 and a quick ratio of 1.28. The stock’s 50-day moving average is $41.22 and its 200-day moving average is $41.52. Tenable has a one year low of $35.25 and a one year high of $53.50. The firm has a market cap of $4.68 billion, a P/E ratio of -76.41 and a beta of 0.85.

Insider Buying and Selling at Tenable

In related news, CEO Amit Yoran sold 4,828 shares of Tenable stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $40.72, for a total value of $196,596.16. Following the sale, the chief executive officer now owns 45,171 shares of the company’s stock, valued at approximately $1,839,363.12. This trade represents a 9.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Mark C. Thurmond sold 2,209 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $40.72, for a total value of $89,950.48. Following the transaction, the chief operating officer now directly owns 35,480 shares of the company’s stock, valued at approximately $1,444,745.60. This trade represents a 5.86 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,654 shares of company stock valued at $862,879. 4.30% of the stock is currently owned by corporate 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.