Tenable (NASDAQ:TENB) Hits New 12-Month Low – Time to Sell?

Tenable Holdings, Inc. (NASDAQ:TENB) reached a new 52-week low during trading on Tuesday . The stock traded as low as $22.37 and last traded at $22.45, with a volume of 285490 shares. The stock had previously closed at $23.10.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on TENB shares. Wall Street Zen raised Tenable from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. DA Davidson set a $32.00 target price on shares of Tenable in a research note on Thursday, October 30th. Barclays decreased their price target on shares of Tenable from $33.00 to $28.00 and set an “equal weight” rating for the company in a research note on Monday, January 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of Tenable in a research report on Wednesday, October 8th. Finally, Morgan Stanley set a $30.00 target price on Tenable in a research note on Thursday, December 18th. Ten analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Tenable has a consensus rating of “Hold” and a consensus price target of $36.88.

Tenable Stock Down 2.4%

The stock has a fifty day moving average price of $25.55 and a two-hundred day moving average price of $28.99. The company has a market cap of $2.69 billion, a P/E ratio of -83.46 and a beta of 0.64. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.94 and a quick ratio of 0.94.

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

Insider Buying and Selling

In related news, insider Barron Anschutz sold 976 shares of Tenable stock in a transaction on Friday, October 17th. The stock was sold at an average price of $29.10, for a total transaction of $28,401.60. Following the sale, the insider directly owned 61,420 shares in the company, valued at approximately $1,787,322. This trade represents a 1.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director A Brooke Seawell sold 115,000 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $24.82, for a total value of $2,854,300.00. The disclosure for this sale is available in the SEC filing. Company insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Tenable

A number of hedge funds have recently modified their holdings of the stock. Quarry LP bought a new position in Tenable during the third quarter valued at $25,000. Elevation Point Wealth Partners LLC purchased a new stake in Tenable in the 2nd quarter worth about $37,000. Exchange Traded Concepts LLC bought a new stake in Tenable in the 3rd quarter valued at about $45,000. Horizon Investments LLC purchased a new stake in Tenable during the third quarter valued at about $45,000. Finally, Abich Financial Wealth Management LLC purchased a new position in shares of Tenable in the third quarter worth about $52,000. Institutional investors own 89.06% of the company’s stock.

About Tenable

Tenable Holdings, Inc is a global cybersecurity company specializing in vulnerability management and continuous threat exposure assessment. Headquartered in Columbia, Maryland, Tenable was founded in 2002 by Ron Gula and Jack Huffard to address the growing need for proactive network security solutions. Over the years, the company has evolved from a pioneer in open-source vulnerability scanning to a leading provider of comprehensive security platforms that help organizations identify, investigate and prioritize cyber risks across on-premises, cloud and operational technology environments.

At the core of Tenable’s product suite is Nessus, one of the industry’s most widely adopted vulnerability scanners.