Tenable Holdings (TENB – Research Report), the Technology sector company, was revisited by a Wall Street analyst today. Analyst Mike Cikos from Needham maintained a Buy rating on the stock and has a $35.00 price target.
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Mike Cikos has given his Buy rating due to a combination of factors that suggest potential upside for Tenable Holdings. Despite a reduction in the midpoint for calculated current billings and revenue, Tenable has consistently outperformed expectations with its revenue and operating profit exceeding guidance. This performance indicates a strong operational foundation.
Furthermore, the company has not observed any significant impact on demand generation or initial customer interest, which could serve as a positive catalyst if the anticipated deal elongation does not materialize. Additionally, Tenable’s current trading valuation appears attractive, as it is notably lower than its peers, suggesting potential value for patient investors.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $45.00 price target.
Based on the recent corporate insider activity of 60 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.