Analyst Shrenik Kothari from Robert W. Baird maintained a Buy rating on Tenable Holdings (TENB – Research Report) and keeping the price target at $40.00.
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Shrenik Kothari has given his Buy rating due to a combination of factors that highlight Tenable Holdings’ strategic positioning and growth potential. The company is transitioning from traditional vulnerability scanning to a more comprehensive risk visualization approach, which includes identity, cloud, and AI. This shift is supported by the robust growth of their newer products, which are expanding at a rate of over 30% annually, indicating strong market demand.
Furthermore, Tenable’s focus on exposure management is gaining traction, especially in the wake of high-profile vulnerabilities. The company’s proactive measures, such as derisking guidance and addressing internal issues, position it well for potential upside if macroeconomic conditions improve. Additionally, the co-CEO leadership model is fostering effective product and go-to-market alignment, further enhancing Tenable’s competitive edge in the market.
According to TipRanks, Kothari is a top 100 analyst with an average return of 28.2% and a 77.19% success rate. Kothari covers the Technology sector, focusing on stocks such as Tenable Holdings, CyberArk Software, and Check Point.
In another report released on May 30, Needham also maintained a Buy rating on the stock with a $35.00 price target.
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