Tenable (NASDAQ:TENB) Updates Q2 Earnings Guidance

Tenable (NASDAQ:TENB) updated its second quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.22-0.24 for the period, compared to the consensus earnings per share 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 FY24 guidance to $1.08-1.12 EPS.

Tenable Price Performance

TENB stock traded up $0.06 during mid-day trading on Wednesday, reaching $45.03. 1,135,811 shares of the company’s stock were exchanged, compared to its average volume of 939,490. The company has a market cap of $5.35 billion, a price-to-earnings ratio of -66.03 and a beta of 0.94. The stock’s 50 day moving average is $47.19 and its 200 day moving average is $45.17. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.19 and a quick ratio of 1.19. Tenable has a 12-month low of $33.85 and a 12-month high of $53.50.

Tenable (NASDAQ:TENB) last issued its quarterly earnings results on Tuesday, February 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.06. The company had revenue of $213.31 million for the quarter, compared to the consensus estimate of $206.95 million. Tenable had a negative return on equity of 15.19% and a negative net margin of 9.80%. On average, research analysts expect that Tenable will post -0.12 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on TENB shares. Westpark Capital raised Tenable from a hold rating to a buy rating and set a $65.00 price target for the company in a report on Friday, January 12th. Truist Financial increased their price target on Tenable from $50.00 to $60.00 and gave the company a buy rating in a report on Wednesday, February 7th. Scotiabank started coverage on Tenable in a report on Friday, April 26th. They issued a sector perform rating and a $47.00 price target for the company. Wedbush reaffirmed an outperform rating and issued a $65.00 price target on shares of Tenable in a report on Wednesday, April 10th. Finally, Needham & Company LLC reissued a buy rating and set a $62.00 target price on shares of Tenable in a research note on Tuesday, April 23rd. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $57.20.

Insider Activity at Tenable

In related news, Director Linda Kay Zecher sold 2,600 shares of Tenable stock in a transaction on Friday, February 9th. The stock was sold at an average price of $50.75, for a total value of $131,950.00. Following the completion of the transaction, the director now directly owns 2 shares in the company, valued at $101.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Tenable news, Director Linda Kay Zecher sold 2,600 shares of Tenable stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $50.75, for a total transaction of $131,950.00. Following the completion of the sale, the director now directly owns 2 shares of the company’s stock, valued at approximately $101.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Stephen A. Vintz sold 15,505 shares of Tenable stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $49.56, for a total value of $768,427.80. Following the sale, the chief financial officer now directly owns 257,924 shares of the company’s stock, valued at $12,782,713.44. The disclosure for this sale can be found here. Over the last three months, insiders 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.