Tenable (NASDAQ:TENB) Releases Q1 2024 Earnings Guidance

Tenable (NASDAQ:TENBGet Free Report) issued an update on its first quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 0.160-0.180 for the period, compared to the consensus estimate of 0.160. The company issued revenue guidance of $212.0 million-$214.0 million, compared to the consensus revenue estimate of $214.1 million. Tenable also updated its FY 2024 guidance to 1.030-1.100 EPS.

Tenable Stock Up 1.4 %

Shares of NASDAQ TENB traded up $0.65 during midday trading on Tuesday, reaching $47.63. 1,620,694 shares of the company’s stock traded hands, compared to its average volume of 884,804. The company has a market cap of $5.57 billion, a price-to-earnings ratio of -70.04 and a beta of 0.96. The stock’s 50 day simple moving average is $45.07 and its 200-day simple moving average is $44.11. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.05. Tenable has a one year low of $33.85 and a one year high of $49.77.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TENB. Needham & Company LLC lifted their price target on Tenable from $52.00 to $56.00 and gave the company a buy rating in a report on Friday, January 26th. Susquehanna assumed coverage on shares of Tenable in a report on Friday, December 15th. They issued a positive rating and a $55.00 target price for the company. Barclays lowered their price target on shares of Tenable from $47.00 to $41.00 and set an equal weight rating on the stock in a report on Thursday, November 2nd. Wedbush decreased their target price on shares of Tenable from $55.00 to $50.00 and set an outperform rating for the company in a research report on Thursday, November 2nd. Finally, Piper Sandler lowered their target price on shares of Tenable from $55.00 to $50.00 and set an overweight rating for the company in a research note on Thursday, November 2nd. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $54.20.

View Our Latest Report on TENB

Insider Buying and Selling

In other Tenable news, CEO Amit Yoran sold 33,201 shares of the firm’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $47.90, for a total transaction of $1,590,327.90. Following the completion of the transaction, the chief executive officer now directly owns 291,532 shares of the company’s stock, valued at approximately $13,964,382.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Mark C. Thurmond sold 827 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $40.00, for a total transaction of $33,080.00. Following the sale, the chief operating officer now directly owns 42,607 shares of the company’s stock, valued at $1,704,280. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Amit Yoran sold 33,201 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $47.90, for a total value of $1,590,327.90. Following the completion of the transaction, the chief executive officer now directly owns 291,532 shares of the company’s stock, valued at $13,964,382.80. The disclosure for this sale can be found here. Insiders sold 60,857 shares of company stock valued at $2,717,008 over the last quarter. 4.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tenable

Several institutional investors have recently made changes to their positions in TENB. Parkside Financial Bank & Trust acquired a new stake in Tenable during the first quarter valued at $25,000. Captrust Financial Advisors grew its position in shares of Tenable by 81.0% during the 2nd quarter. Captrust Financial Advisors now owns 791 shares of the company’s stock valued at $36,000 after acquiring an additional 354 shares during the period. State of Tennessee Treasury Department purchased a new position in shares of Tenable in the 4th quarter valued at about $143,000. Rockefeller Capital Management L.P. raised its holdings in Tenable by 10.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 4,065 shares of the company’s stock worth $155,000 after purchasing an additional 395 shares during the period. Finally, XTX Topco Ltd purchased a new position in Tenable during the first quarter worth approximately $201,000. 88.13% of the stock is owned by hedge funds and other institutional investors.

Tenable Company Profile

(Get Free Report)

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.io, a cloud-delivered software as a service that provides organizations with a risk-based view of traditional and modern attack surfaces; Tenable.cs, a cloud-native cloud security solutions for security teams to continuously assess the security posture; Tenable.io Web Application Scanning, which provides scanning for modern web applications; Tenable Lumin Exposure View, a measurement tool; and Tenable.asm, an external attack surface management solution.

Further Reading

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