Tenable (NASDAQ:TENB) Releases Q4 2024 Earnings Guidance

Tenable (NASDAQ:TENB) updated its fourth quarter 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.330-0.350 for the period, compared to the consensus estimate of 0.330. The company issued revenue guidance of $229.0 million-$233.0 million, compared to the consensus revenue estimate of $232.0 million. Tenable also updated its FY 2024 guidance to 1.210-1.230 EPS.

Tenable Trading Down 1.7 %

Shares of TENB stock traded down $0.69 during mid-day trading on Thursday, reaching $40.54. 982,074 shares of the stock traded hands, compared to its average volume of 904,981. The stock’s fifty day simple moving average is $40.80 and its two-hundred day simple moving average is $42.26. Tenable has a 1-year low of $33.85 and a 1-year high of $53.50. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.98. The company has a market cap of $4.83 billion, a price-to-earnings ratio of -73.00 and a beta of 0.83.

Tenable (NASDAQ:TENB) last posted its earnings results on Wednesday, July 31st. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The firm had revenue of $221.24 million for the quarter, compared to analyst estimates of $218.41 million. Tenable had a negative net margin of 7.77% and a negative return on equity of 7.63%. On average, research analysts anticipate that Tenable will post -0.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on TENB shares. Baird R W raised Tenable to a “strong-buy” rating in a report on Monday, July 15th. Stifel Nicolaus reduced their target price on Tenable from $54.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Robert W. Baird lowered their price target on shares of Tenable from $53.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, October 25th. DA Davidson lowered shares of Tenable from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $56.00 to $40.00 in a research note on Thursday, August 1st. Finally, Canaccord Genuity Group lowered their target price on shares of Tenable from $57.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.06.

Insiders Place Their Bets

In other news, COO Mark C. Thurmond sold 3,383 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $41.66, for a total value of $140,935.78. Following the sale, the chief operating officer now directly owns 34,079 shares of the company’s stock, valued at approximately $1,419,731.14. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, COO Mark C. Thurmond sold 3,383 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $41.66, for a total transaction of $140,935.78. Following the transaction, the chief operating officer now directly owns 34,079 shares of the company’s stock, valued at $1,419,731.14. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Stephen A. Vintz sold 3,413 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was 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 owns 278,493 shares in the company, valued at $11,627,082.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,469 shares of company stock worth $520,276 over the last three months. 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.