Tenable (NASDAQ:TENB) Releases FY 2024 Earnings Guidance

by · The Markets Daily

Tenable (NASDAQ:TENB – Get Free Report) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 1.210-1.230 for the period, compared to the consensus EPS estimate of 1.180. The company issued revenue guidance of $893.3 million-$897.3 million, compared to the consensus revenue estimate of $892.6 million. Tenable also updated its FY24 guidance to $1.21-$1.23 EPS.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TENB. Westpark Capital reiterated a “hold” rating on shares of Tenable in a research note on Thursday. DA Davidson cut shares of Tenable from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $56.00 to $40.00 in a research report on Thursday, August 1st. Truist Financial reissued a “buy” rating and issued a $55.00 target price (down from $60.00) on shares of Tenable in a report on Thursday, August 1st. Wells Fargo & Company cut their target price on Tenable from $60.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday, August 1st. Finally, Piper Sandler lowered their price target on Tenable from $55.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $50.81.

Get Our Latest Research Report on Tenable

Tenable Stock Down 3.9 %

Shares of TENB opened at $39.61 on Friday. The stock’s 50-day moving average price is $40.76 and its two-hundred day moving average price is $42.24. Tenable has a 12 month low of $33.85 and a 12 month high of $53.50. The company has a market capitalization of $4.72 billion, a PE ratio of -77.67 and a beta of 0.83. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.98.

Tenable (NASDAQ:TENB – Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. Tenable had a negative return on equity of 6.42% and a negative net margin of 6.82%. The company had revenue of $221.24 million for the quarter, compared to analyst estimates of $218.41 million. On average, analysts anticipate that Tenable will post -0.06 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Stephen A. Vintz sold 3,413 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $41.75, for a total transaction of $142,492.75. Following the completion of the sale, the chief financial officer now directly owns 278,493 shares in the company, valued at $11,627,082.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, COO Mark C. Thurmond sold 3,383 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $41.66, for a total transaction of $140,935.78. Following the completion of the sale, the chief operating officer now owns 34,079 shares of the company’s stock, valued at $1,419,731.14. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Stephen A. Vintz sold 3,413 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $41.75, for a total transaction of $142,492.75. Following the transaction, the chief financial officer now owns 278,493 shares in the company, valued at $11,627,082.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,469 shares of company stock worth $520,276. 4.30% of the stock is currently owned by insiders.

Tenable Company Profile

(Get Free Report)

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.

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