Tenable Holdings (TENB – Research Report), the Technology sector company, was revisited by a Wall Street analyst today. Analyst Mike Cikos from Needham maintained a Buy rating on the stock and has a $35.00 price target.
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Mike Cikos has given his Buy rating due to a combination of factors, primarily focusing on Tenable Holdings’ strategic acquisition of Apex Security. This move is seen as a significant enhancement to Tenable’s capabilities, particularly in the realm of AI-driven cybersecurity solutions.
The acquisition is expected to bolster Tenable’s offerings by integrating Apex’s expertise in real-time detection and response to cyber threats targeting AI platforms. This expansion aligns with the increasing demand for robust security measures as AI technologies become more prevalent in enterprises. The involvement of notable investors in Apex Security further underscores the potential value this acquisition brings to Tenable Holdings.
According to TipRanks, Cikos is a 5-star analyst with an average return of 10.9% and a 53.66% success rate. Cikos covers the Technology sector, focusing on stocks such as Cellebrite DI, N-able, and Cognyte Software.