Tenable (NASDAQ:TENB) Releases FY 2024 Earnings Guidance

Tenable (NASDAQ:TENB) updated its FY 2024 earnings guidance on Monday. The company provided EPS guidance of 1.210-1.230 for the period, compared to the consensus EPS estimate of 1.220. The company issued revenue guidance of $893.3 million-$897.3 million, compared to the consensus revenue estimate of $896.0 million. Tenable also updated its Q4 2024 guidance to 0.330-0.350 EPS.

Tenable Stock Up 0.3 %

Shares of NASDAQ:TENB opened at $39.08 on Monday. The company has a 50 day moving average price of $41.28 and a two-hundred day moving average price of $41.51. The company has a market capitalization of $4.69 billion, a PE ratio of -76.63 and a beta of 0.83. Tenable has a 52 week low of $35.25 and a 52 week high of $53.50. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.28 and a current ratio of 1.28.

Wall Street Analysts Forecast Growth

TENB has been the topic of several recent analyst reports. Jefferies Financial Group lifted their target price on Tenable from $40.00 to $45.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Morgan Stanley restated an “equal weight” rating and set a $47.00 target price (down from $50.00) on shares of Tenable in a report on Monday, December 2nd. Westpark Capital reissued a “hold” rating on shares of Tenable in a research report on Thursday, October 31st. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 target price on shares of Tenable in a research note on Tuesday, October 29th. Finally, Robert W. Baird dropped their price target on Tenable from $53.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $50.63.

Insider Buying and Selling

In other news, CEO Amit Yoran sold 4,828 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $40.72, for a total transaction of $196,596.16. Following the completion of the sale, the chief executive officer now owns 45,171 shares of the company’s stock, valued at approximately $1,839,363.12. This represents a 9.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Stephen A. Vintz sold 2,801 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $40.72, for a total value of $114,056.72. Following the sale, the chief financial officer now owns 281,536 shares of the company’s stock, valued at approximately $11,464,145.92. This represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,654 shares of company stock valued at $862,879. 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.