Tenable Holdings, the Technology sector company, was revisited by a Wall Street analyst yesterday. Analyst Andrew Nowinski from Wells Fargo reiterated a Buy rating on the stock and has a $45.00 price target.
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Andrew Nowinski has given his Buy rating due to a combination of factors that highlight Tenable Holdings’ strong performance and growth potential. The company reported solid second-quarter results, surpassing the high-end of their guidance by 1.8%, which indicates a robust demand for their products. The adoption of Tenable One has been a significant driver of this growth, contributing to larger deals in both the enterprise and U.S. Federal sectors.
Furthermore, Tenable’s management has raised their fiscal year 2025 outlook, reflecting improved visibility into renewals, particularly within the U.S. Federal sector. The company has also seen an increase in large deals, including competitive displacements, which boosts confidence in their market position. These positive trends have led to an increase in the price target to $45, reinforcing the Buy recommendation.
According to TipRanks, Nowinski is a 5-star analyst with an average return of 16.8% and a 55.89% success rate. Nowinski covers the Technology sector, focusing on stocks such as Gen Digital, CyberArk Software, and Zscaler.
In another report released today, TD Cowen also reiterated a Buy rating on the stock with a $45.00 price target.