Analyst Shaul Eyal from TD Cowen reiterated a Buy rating on Tenable Holdings and keeping the price target at $45.00.
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Shaul Eyal has given his Buy rating due to a combination of factors that highlight Tenable Holdings’ potential for growth despite certain challenges. The company is expected to deliver results in line with expectations, even though personnel cuts related to DOGE have extended procurement decision timelines in the US federal sector, which accounts for a significant portion of revenue. Additionally, while mergers and acquisitions have impacted profitability, Tenable’s research and development efforts have maintained high win rates.
Furthermore, the competitive landscape remains intense, with platform vendors bundling various security tools to drive adoption. However, Tenable is recognized as a leader in the legacy vulnerability management space, having kept pace with new R&D developments. The integration of Vulcan Cyber is anticipated to enhance Tenable’s capabilities, allowing it to displace competitors and ingest asset types from third-party vendors. Despite risks from DOGE-related cuts and tariff uncertainties affecting international revenue, Tenable’s strategic positioning and growth prospects justify the Buy rating.
In another report released on June 30, J.P. Morgan also maintained a Buy rating on the stock with a $43.00 price target.
Based on the recent corporate insider activity of 52 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.