In a report released today, Daniel Ives from Wedbush initiated coverage with a Buy rating on Tenable Holdings (TENB) and a price target of $40.00. The company’s shares closed last Tuesday at $30.37, close to its 52-week high of $32.15.
According to TipRanks.com, Ives is a 5-star analyst with an average return of 13.6% and a 62.2% success rate. Ives covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Nuance Communications, and Palo Alto Networks.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Tenable Holdings with a $35.80 average price target, representing a 17.2% upside. In a report issued on July 14, Morgan Stanley also maintained a Buy rating on the stock with a $36.00 price target.
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Based on Tenable Holdings’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $103 million and GAAP net loss of $22.98 million. In comparison, last year the company earned revenue of $80.3 million and had a GAAP net loss of $21.44 million.
Based on the recent corporate insider activity of 68 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TENB in relation to earlier this year.
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Tenable Holdings, Inc. engages in the development of security software solutions. It offers Cyber Exposure which is a discipline for managing and measuring cybersecurity risk in the digital era. Its products include tenable.io, tenable.sc, and nessus professional. The firm delivers solutions in the field of application security, cloud security, compliance, energy, finance, healthcare, and retail. The company was founde by John C. Huffard, Jr. and Renaud M. Deraison in 2002 and is headquartered in Columbia, MD.
