Robert W. Baird analyst Shrenik Kothari has maintained their bullish stance on TENB stock, giving a Buy rating today.
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Shrenik Kothari has given his Buy rating due to a combination of factors that suggest a positive outlook for Tenable Holdings. The company is poised to benefit from a reset in guidance, which has been adjusted to account for federal and enterprise challenges. This reset, along with sticky renewals and a discounted valuation, positions Tenable favorably as it approaches its upcoming earnings report. Despite ongoing volatility from federal pacing and extended enterprise cycles, these risks appear to be largely accounted for in the current stock price.
Additionally, Tenable is experiencing strong momentum in its Tenable One product and growing traction in areas such as OT, Zero Trust, and cloud exposure. Channel feedback indicates an increase in deal activity, particularly in the federal sector, and improved attach rates for key products. The company’s valuation, which is below historical averages, combined with underappreciated cross-sell opportunities and a stabilizing federal trajectory, presents an attractive risk/reward profile that supports the Buy rating.
In another report released today, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $42.00 price target.