In a report released today, Shrenik Kothari from Robert W. Baird maintained a Buy rating on Tenable Holdings, with a price target of $42.00.
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Shrenik Kothari has given his Buy rating due to a combination of factors that highlight Tenable Holdings’ strong market position and growth potential. The company demonstrated a notable acceleration in revenue growth within the EMEA region, which helped balance out some slower performance in the Americas. This geographic diversification is a positive indicator of the company’s ability to adapt and thrive in different markets.
Additionally, Tenable Holdings showed a significant year-over-year increase in revenue, with a substantial portion coming from existing customers, indicating strong customer retention and satisfaction. The acquisition of Apex Security further strengthens their portfolio and market position. Despite some risks associated with reliance on channel partners like Ingram Micro, the company’s strategic moves and consistent revenue growth contribute to the positive outlook, justifying the Buy rating.
In another report released on July 31, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $42.00 price target.
Based on the recent corporate insider activity of 50 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.