Tenable (NASDAQ:TENB) Issues Q2 Earnings Guidance

Tenable (NASDAQ:TENB) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.22-0.24 for the period, compared to the consensus estimate of $0.26. The company issued revenue guidance of $217-219 million, compared to the consensus revenue estimate of $219.41 million. Tenable also updated its FY 2024 guidance to 1.080-1.120 EPS.

Wall Street Analyst Weigh In

TENB has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a buy rating and set a $62.00 price objective on shares of Tenable in a research report on Thursday. Morgan Stanley raised shares of Tenable from an equal weight rating to an overweight rating and increased their price objective for the stock from $46.00 to $60.00 in a research report on Tuesday, January 9th. Susquehanna boosted their target price on Tenable from $55.00 to $60.00 and gave the company a positive rating in a research report on Thursday, February 8th. Wedbush reiterated an outperform rating and issued a $65.00 price target on shares of Tenable in a report on Thursday. Finally, Stephens boosted their price objective on Tenable from $60.00 to $62.00 and gave the company an overweight rating in a report on Wednesday, February 7th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $57.20.

Tenable Stock Performance

TENB traded down $0.61 during midday trading on Friday, reaching $44.60. The company had a trading volume of 954,961 shares, compared to its average volume of 792,766. The business has a 50-day moving average price of $47.06 and a two-hundred day moving average price of $45.18. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.19 and a current ratio of 1.19. Tenable has a 12-month low of $33.85 and a 12-month high of $53.50. The stock has a market cap of $5.30 billion, a PE ratio of -76.90 and a beta of 0.94.

Tenable (NASDAQ:TENB) last announced its quarterly earnings data on Tuesday, February 6th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.06. The business had revenue of $213.31 million during the quarter, compared to analyst estimates of $206.95 million. Tenable had a negative return on equity of 10.59% and a negative net margin of 8.18%. On average, sell-side analysts expect that Tenable will post -0.12 earnings per share for the current fiscal year.

Insider Activity at Tenable

In other news, COO Mark C. Thurmond sold 1,089 shares of Tenable stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $47.73, for a total value of $51,977.97. Following the completion of the transaction, the chief operating officer now owns 48,846 shares in the company, valued at $2,331,419.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Mark C. Thurmond sold 1,089 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $47.73, for a total value of $51,977.97. Following the completion of the transaction, the chief operating officer now directly owns 48,846 shares of the company’s stock, valued at $2,331,419.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Stephen A. Vintz sold 15,505 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $49.56, for a total value of $768,427.80. Following the sale, the chief financial officer now owns 257,924 shares in the company, valued at $12,782,713.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 317,382 shares of company stock worth $15,021,615. Company insiders own 4.30% of the company’s stock.

About Tenable

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.