Needham raised the price target for the Tenable Holdings Inc (NASDAQ:TENB) stock to “a Buy”. The rating was released on February 07, 2024, according to finviz. We previously noted in another research note published on January 09, 2024 by Morgan Stanley that upgraded the stock from an Equal-weight to an Overweight with a price target of $60 for TENB stock. The research report from Susquehanna has initiated the stock to Positive, with a price target set at $55. The stock was downgraded by Barclays, who disclosed in a research note on October 09, 2023, from Overweight to Equal Weight and set the price objective to $47. In their research brief published September 18, 2023, TD Cowen analysts initiated the Tenable Holdings Inc stock to Outperform with a price target of $55.
Historical Earnings Surprises and Revenue Forecasts
Profit is the most critical financial performance measure. Every investor in a business is looking forward to the earnings report as stock price to increase when earnings exceed market expectations and progressively decrease when earnings do not meet expectations. The firm reported an earnings per share (EPS) of $0.25 during the last quarter as opposed to a consensus estimate of $0.14, which indicates the company beat its estimate by $0.11, which implies that the company surprised the market by 78.60%. It appears that the average earnings per share estimate for the current quarter (ending in Mar 2024) is $0.18. This is an average of 19 analysts’ earnings, where the high earnings per share estimate is $0.26 and the low earnings per share estimate is $0.17. According to 18 analyst estimates, an average revenue estimate of $213.57M is projected for the current quarter with a high revenue estimate of $215M and a low estimate of $212.44M.
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The latest trade, Performances and Moving Averages give us the following Picture
The firm’s stock price fluctuated 4.90% within the last five trades and -2.12% within the last 30 trades, which was a significant change from the beginning of this year. Despite the fact that the share price increased 6.18% in the last 6 months and 9.89% was added to its value over the previous 3 months. TENB stock is trading at a margin of 4.21%, 2.75% and 10.50% apart from the 20-Day, 50-Day and 200-Day Simple Moving Average prices.
As of the close of trading, TENB deals in the Technology domain. The stock is trading -8.45 percent below its 52-week high and 44.70 percent above its 52-week low. For example, looking both at the price and the high and low measurements of 52 weeks will give you a clearer picture of the direction the price is heading. The firm’s Weighted Alpha is 15.3. A positive weighted alpha indicates the firm has done well over the course of the year, whereas one below 0 indicates that the firm has done poorly.
What Does Tenable Holdings Inc’s Profitability and Valuation Ratios Tell Us About the Stock?
With regard to the profitability of the company, the operating margin is currently at -5.37 percent and the profit margin is -9.80 percent, and the company has reported a gross margin of 77.02 percent. The profit margin, also known as the revenue ratio or gross profit ratio, is an efficiency figure used to estimate the business’s profitability by comparing net income and sales. The higher the number, the more profits are generated for the company and vice versa.
The stock’s market cap achieved a total value of $5.79 billion as of the last trading session. Market capitalization is the total value of all outstanding shares of a corporation and it is used to measure a company’s market value. The price-to-earnings ratio is a method of assessing corporate values by comparing them to their per-share profit. Forward P/E stands at 36.80. Forward price-to-earnings is calculated using predicted earnings for the next financial year’s P/E determination. The stock has achieved an effective Price-to-Sales Ratio of 7.24 that mirrors the cost to be found for sales by the market. The firm managed a Price-to-Book ratio of 16.57, which equates the market value of a stock with its book value.
Is Insider Trading a Real Thing?
Almost all investors and traders prefer to invest in shares controlled by the management of a corporation as a management company will be more likely to run the business itself and to never conduct things against the management’s desires and will always try to do what is best for their shareholders. Currently, 1.71 percent of Tenable Holdings Inc shares are owned by insiders, and 89.76 percent are held by financial institutions. Vintz Stephen A, the Chief Financial Officer at Tenable Holdings Inc (TENB) has sold 200,000 shares of firm on Mar 12 ’24 at a price of $46.93 against the total amount of $9.39 million. In another inside trade, Yoran Amit, President, CEO and Chairman of Tenable Holdings Inc (NASDAQ:TENB) sold 10,000 shares of the firm on Mar 04 ’24 for a total worth of $0.48 million at a price of $48.03. An inside trade which took place on Feb 29 ’24, Director of Tenable Holdings Inc Vicks Raymond Jr. sold 809 shares of firm against total price of $38630.0 at the cost of $47.75 per share.
