FY2024 Earnings Forecast for Tenable Issued By Scotiabank

Tenable Holdings, Inc. (NASDAQ:TENB) – Equities researchers at Scotiabank raised their FY2024 EPS estimates for shares of Tenable in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst P. Colville now anticipates that the company will post earnings of ($0.02) per share for the year, up from their previous estimate of ($0.06). The consensus estimate for Tenable’s current full-year earnings is ($0.02) per share. Scotiabank also issued estimates for Tenable’s FY2025 earnings at $0.10 EPS.

Several other equities research analysts also recently commented on the stock. Barclays dropped their price objective on shares of Tenable from $49.00 to $45.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Piper Sandler reduced their target price on shares of Tenable from $55.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Needham & Company LLC reissued a “buy” rating and set a $50.00 price objective on shares of Tenable in a research note on Monday. Morgan Stanley reissued an “equal weight” rating and issued a $47.00 price objective (down previously from $50.00) on shares of Tenable in a report on Monday, December 2nd. Finally, Robert W. Baird cut their price target on shares of Tenable from $53.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tenable currently has a consensus rating of “Moderate Buy” and an average target price of $50.63.

Tenable Stock Down 0.2 %

NASDAQ:TENB opened at $38.89 on Friday. The company’s 50-day simple moving average is $41.17 and its 200-day simple moving average is $41.51. The stock has a market capitalization of $4.67 billion, a P/E ratio of -76.25 and a beta of 0.85. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.28 and a current ratio of 1.28. Tenable has a fifty-two week low of $35.25 and a fifty-two week high of $53.50.

Insider Activity at Tenable

In related news, CFO Stephen A. Vintz sold 3,180 shares of Tenable stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $42.74, for a total value of $135,913.20. Following the completion of the transaction, the chief financial officer now owns 285,045 shares in the company, valued at $12,182,823.30. The trade was a 1.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Amit Yoran sold 4,828 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $40.72, for a total transaction of $196,596.16. Following the completion of the sale, the chief executive officer now directly owns 45,171 shares in the company, valued at approximately $1,839,363.12. This represents a 9.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,654 shares of company stock worth $862,879. Corporate insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Tenable

Several institutional investors have recently modified their holdings of TENB. Readystate Asset Management LP acquired a new stake in Tenable during the third quarter worth approximately $24,660,000. Mackenzie Financial Corp raised its stake in Tenable by 12.7% during the 2nd quarter. Mackenzie Financial Corp now owns 4,191,935 shares of the company’s stock worth $182,685,000 after acquiring an additional 471,126 shares in the last quarter. FMR LLC lifted its position in Tenable by 2.0% in the third quarter. FMR LLC now owns 15,210,927 shares of the company’s stock valued at $616,347,000 after acquiring an additional 305,334 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Tenable by 28.0% in the third quarter. The Manufacturers Life Insurance Company now owns 920,378 shares of the company’s stock valued at $37,294,000 after acquiring an additional 201,366 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of Tenable during the second quarter worth about $7,740,000. 89.06% of the stock is owned by hedge funds and other institutional investors.

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.