Tenable Holdings (TENB – Research Report), the Technology sector company, was revisited by a Wall Street analyst yesterday. Analyst Shrenik Kothari from Robert W. Baird maintained a Buy rating on the stock and has a $52.00 price target.
Shrenik Kothari has given his Buy rating due to a combination of factors highlighting Tenable Holdings’ strong financial performance and strategic positioning. The company demonstrated a notable increase in revenue, driven primarily by existing customers, which indicates a solid customer retention strategy. Furthermore, Tenable’s revenue-per-employee has shown significant improvement, suggesting enhanced operational efficiency.
Another key factor is the company’s reliance on recurring revenue, which constituted 96% of its total revenue in 2024, providing a stable financial foundation. Despite potential risks related to government spending and regulatory changes, Tenable’s extensive customer base, including a substantial portion of Fortune 500 companies, positions it well for future growth. The strategic partnerships, particularly with channel partners like Ingram Micro, further bolster its market presence and revenue stability.
According to TipRanks, Kothari is a top 100 analyst with an average return of 28.2% and a 74.50% success rate. Kothari covers the Technology sector, focusing on stocks such as Fortinet, CyberArk Software, and Okta.
In another report released on February 18, Canaccord Genuity also maintained a Buy rating on the stock with a $53.00 price target.