Tenable Holdings (TENB – Research Report), 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 $50.00 price target.
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Andrew Nowinski’s rating is based on a combination of factors that highlight Tenable Holdings’ potential for growth and strong performance. The company’s fourth-quarter results exceeded expectations, with revenue and calculated current billings surpassing guidance, despite a slight decrease in share value. This performance, coupled with an attractive valuation, supports the Buy rating.
Additionally, Tenable’s cloud security solutions showed significant growth, doubling in sales, which indicates a promising expansion in this sector. The adoption of Tenable One, which accounted for a larger portion of enterprise sales, also demonstrates strong market traction. Moreover, there was an improvement in large deal activity, suggesting an upswing in business momentum. These factors collectively contribute to a positive outlook for the company’s future growth, justifying the Buy recommendation.
In another report released today, TD Cowen also reiterated a Buy rating on the stock with a $55.00 price target.
TENB’s price has also changed slightly for the past six months – from $40.120 to $43.210, which is a 7.70% increase.