Tenable Holdings, Inc. to Post Q3 2023 Earnings of ($0.08) Per Share, William Blair Forecasts (NASDAQ:TENB)

Posted by Defense World Staff on Jul 31st, 2023

Tenable Holdings, Inc. (NASDAQ:TENB – Free Report) – Research analysts at William Blair increased their Q3 2023 earnings estimates for shares of Tenable in a report released on Wednesday, July 26th. William Blair analyst J. Ho now forecasts that the company will post earnings per share of ($0.08) for the quarter, up from their prior estimate of ($0.10). The consensus estimate for Tenable’s current full-year earnings is ($0.37) per share. William Blair also issued estimates for Tenable’s Q4 2023 earnings at ($0.11) EPS, FY2023 earnings at ($0.37) EPS, Q1 2024 earnings at ($0.14) EPS, Q2 2024 earnings at ($0.10) EPS, Q3 2024 earnings at ($0.04) EPS, Q4 2024 earnings at ($0.05) EPS and FY2024 earnings at ($0.33) EPS.

Several other research firms also recently issued reports on TENB. Morgan Stanley dropped their price target on shares of Tenable from $48.00 to $44.00 in a research note on Tuesday, April 25th. Needham & Company LLC lifted their price target on shares of Tenable from $48.00 to $55.00 in a research note on Wednesday, July 26th. Wells Fargo & Company raised their price objective on shares of Tenable from $52.00 to $60.00 in a report on Wednesday, July 26th. Barclays raised their price objective on shares of Tenable from $49.00 to $51.00 in a report on Wednesday, July 26th. Finally, DA Davidson decreased their price objective on shares of Tenable from $54.00 to $48.00 in a report on Tuesday, April 25th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.31.

Tenable Stock Performance

Tenable stock opened at $47.66 on Monday. Tenable has a 12-month low of $28.80 and a 12-month high of $49.49. The company has a market capitalization of $5.47 billion, a price-to-earnings ratio of -66.19 and a beta of 1.23. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.52 and a quick ratio of 1.52. The firm’s fifty day moving average price is $41.88 and its 200 day moving average price is $42.16.

Insiders Place Their Bets

In other Tenable news, CFO Stephen A. Vintz sold 4,173 shares of the business’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $40.31, for a total transaction of $168,213.63. Following the sale, the chief financial officer now directly owns 201,420 shares in the company, valued at approximately $8,119,240.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Amit Yoran sold 41,966 shares of Tenable stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $48.20, for a total value of $2,022,761.20. Following the transaction, the chief executive officer now directly owns 240,013 shares of the company’s stock, valued at $11,568,626.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Stephen A. Vintz sold 4,173 shares of Tenable stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $40.31, for a total transaction of $168,213.63. Following the completion of the transaction, the chief financial officer now directly owns 201,420 shares in the company, valued at $8,119,240.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 65,780 shares of company stock worth $2,948,038. 4.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Tenable by 3.2% in the third quarter. Vanguard Group Inc. now owns 10,984,228 shares of the company’s stock worth $382,251,000 after buying an additional 337,206 shares during the last quarter. BlackRock Inc. raised its stake in Tenable by 3.8% during the 1st quarter. BlackRock Inc. now owns 10,247,170 shares of the company’s stock valued at $486,843,000 after purchasing an additional 370,932 shares during the last quarter. First Trust Advisors LP raised its stake in Tenable by 7.8% during the 4th quarter. First Trust Advisors LP now owns 4,070,037 shares of the company’s stock valued at $155,114,000 after purchasing an additional 295,201 shares during the last quarter. RGM Capital LLC raised its stake in Tenable by 1.0% during the 1st quarter. RGM Capital LLC now owns 3,567,832 shares of the company’s stock valued at $169,508,000 after purchasing an additional 35,068 shares during the last quarter. Finally, Mackenzie Financial Corp raised its stake in Tenable by 1.3% during the 1st quarter. Mackenzie Financial Corp now owns 3,028,326 shares of the company’s stock valued at $175,007,000 after purchasing an additional 38,358 shares during the last quarter. 88.84% of the stock is owned by hedge funds and other institutional investors.

About Tenable

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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.io, a cloud-delivered software as a service that provides organizations with a risk-based view of traditional and modern attack surfaces; Tenable.cs, a cloud-native cloud security solutions for security teams to continuously assess the security posture; Tenable.io Web Application Scanning, which provides scanning for modern web applications; Tenable Lumin Exposure View, a measurement tool; and Tenable.asm, an external attack surface management solution.