Tenable (NASDAQ:TENB) Hits New 12-Month Low – What’s Next?

Tenable Holdings, Inc. (NASDAQ:TENB) shares hit a new 52-week low on Wednesday . The stock traded as low as $25.63 and last traded at $25.80, with a volume of 1248601 shares traded. The stock had previously closed at $26.06.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on TENB shares. Scotiabank dropped their price objective on shares of Tenable from $37.00 to $31.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 30th. Needham & Company LLC lowered their target price on Tenable from $42.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Tenable in a report on Wednesday, October 8th. Morgan Stanley raised their price objective on Tenable from $28.00 to $32.00 and gave the company an “equal weight” rating in a research report on Thursday, July 31st. Finally, Wedbush boosted their target price on shares of Tenable from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Nine analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $38.63.

Tenable Price Performance

The firm has a market cap of $3.06 billion, a PE ratio of -95.00 and a beta of 0.71. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.03. The stock has a 50 day moving average price of $28.96 and a two-hundred day moving average price of $30.94.

Tenable (NASDAQ:TENB) last released its earnings results on Wednesday, October 29th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.05. The company had revenue of $252.44 million for the quarter, compared to analysts’ expectations of $247.43 million. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.32 EPS. Tenable has set its FY 2025 guidance at 1.510-1.540 EPS. Q4 2025 guidance at 0.390-0.430 EPS. As a group, equities analysts expect that Tenable Holdings, Inc. will post 0.12 earnings per share for the current year.

Insider Transactions at Tenable

In other Tenable news, CEO Mark C. Thurmond sold 28,500 shares of Tenable stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $30.25, for a total transaction of $862,125.00. Following the completion of the sale, the chief executive officer owned 102,322 shares of the company’s stock, valued at approximately $3,095,240.50. The trade was a 21.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Barron Anschutz sold 1,261 shares of the business’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $30.25, for a total value of $38,145.25. Following the sale, the insider owned 59,645 shares in the company, valued at approximately $1,804,261.25. The trade was a 2.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 64,555 shares of company stock worth $1,951,065. Insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Tenable

A number of large investors have recently bought and sold shares of TENB. Danske Bank A S purchased a new position in Tenable during the 3rd quarter worth approximately $840,000. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Tenable by 37.6% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 616,210 shares of the company’s stock valued at $18,375,000 after acquiring an additional 168,340 shares during the last quarter. Woodline Partners LP increased its stake in shares of Tenable by 21.5% in the third quarter. Woodline Partners LP now owns 125,092 shares of the company’s stock worth $3,648,000 after acquiring an additional 22,128 shares during the period. Dark Forest Capital Management LP purchased a new position in shares of Tenable during the third quarter worth $806,000. Finally, Voloridge Investment Management LLC lifted its position in Tenable by 210.6% during the third quarter. Voloridge Investment Management LLC now owns 466,728 shares of the company’s stock valued at $13,610,000 after purchasing an additional 316,440 shares during the period. Hedge funds and other institutional investors own 89.06% 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.