Morgan Stanley Initiates Coverage on Tenable (NASDAQ:TENB)

Analysts at Morgan Stanley initiated coverage on shares of Tenable (NASDAQ:TENB) in a research note issued to investors on Tuesday, MarketBeat reports. The firm set an “equal weight” rating and a $40.00 price target on the stock. Morgan Stanley’s target price points to a potential upside of 7.58% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Jefferies Financial Group boosted 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. Barclays upped their price objective on shares of Tenable from $45.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price objective on shares of Tenable in a research note on Thursday, February 6th. Stifel Nicolaus cut shares of Tenable from a “buy” rating to a “hold” rating and lowered their price objective for the company from $46.00 to $45.00 in a research report on Friday, January 17th. Finally, Scotiabank boosted their price objective on shares of Tenable from $44.00 to $45.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 21st. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $49.20.

Tenable Stock Up 0.5 %

Shares of Tenable stock opened at $37.18 on Tuesday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.88. Tenable has a 1 year low of $35.25 and a 1 year high of $50.30. The stock has a 50-day moving average price of $39.67 and a 200 day moving average price of $40.51. The company has a market cap of $4.47 billion, a P/E ratio of -123.93 and a beta of 0.87.

Tenable (NASDAQ:TENB) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.26). Tenable had a negative return on equity of 2.07% and a negative net margin of 4.03%. As a group, analysts expect that Tenable will post 0.12 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Raymond Jr. Vicks sold 809 shares of the stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $38.52, for a total transaction of $31,162.68. Following the completion of the transaction, the director now owns 8,659 shares in the company, valued at approximately $333,544.68. This represents a 8.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Linda Kay Zecher sold 2,500 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $37.00, for a total transaction of $92,500.00. Following the transaction, the director now owns 353 shares of the company’s stock, valued at approximately $13,061. This represents a 87.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,937 shares of company stock worth $570,418 over the last ninety days. Company insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Tenable

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Arizona State Retirement System lifted its stake in Tenable by 1.0% in the fourth quarter. Arizona State Retirement System now owns 34,560 shares of the company’s stock valued at $1,361,000 after acquiring an additional 332 shares during the last quarter. Summit Investment Advisors Inc. lifted its stake in shares of Tenable by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 12,336 shares of the company’s stock worth $486,000 after buying an additional 390 shares during the last quarter. Oppenheimer & Co. Inc. boosted its holdings in shares of Tenable by 3.0% during the 4th quarter. Oppenheimer & Co. Inc. now owns 15,650 shares of the company’s stock worth $616,000 after buying an additional 450 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Tenable by 0.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,281 shares of the company’s stock valued at $2,118,000 after buying an additional 457 shares during the last quarter. Finally, Tidal Investments LLC raised its holdings in Tenable by 1.8% in the 4th quarter. Tidal Investments LLC now owns 32,082 shares of the company’s stock valued at $1,263,000 after acquiring an additional 564 shares during the period. 89.06% of the stock is owned by institutional investors.

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.