Analyst Shaul Eyal from TD Cowen reiterated a Buy rating on Tenable Holdings (TENB – Research Report) and keeping the price target at $55.00.
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Shaul Eyal gave his rating based on several factors, including Tenable Holdings’ strong financial performance and strategic acquisitions. The company reported an 11% year-over-year revenue increase for the fourth quarter of 2024, surpassing market expectations, and demonstrated robust growth in Cloud and Vulnerability Management sectors. Furthermore, Tenable One accounted for a significant portion of new business, indicating strong market acceptance.
Tenable’s recent acquisition of Vulcan Cyber is expected to enhance its platform capabilities, particularly in exposure management. Despite a cautious outlook due to a transition in the U.S. federal sector, the company has maintained stability in its federal pipeline, with no significant cancellations. The anticipated improvements in sales efficiency and operating margins also support a favorable long-term growth outlook, contributing to Eyal’s Buy rating for Tenable Holdings.
In another report released yesterday, Robert W. Baird also maintained a Buy rating on the stock with a $50.00 price target.
Based on the recent corporate insider activity of 81 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.