Tenable: Leveraging Proprietary Visibility and Asset-Based Pricing to Lead in Agentic AI Security

Needham analyst Mike Cikos maintained a Buy rating on Tenable Holdings today and set a price target of $28.00.

Mike Cikos has given his Buy rating due to a combination of factors tied to Tenable’s competitive position in the emerging Agentic AI landscape. He highlights the company’s broad coverage of diverse asset types across hybrid environments and its extensive deployment of sensors behind customer firewalls, which provides proprietary visibility and context that public data sources cannot match.

He also points to the platform’s deterministic and auditable workflows, which support consistent, repeatable security actions, as a key differentiator. In addition, Cikos views Tenable’s asset-based pricing model as structurally attractive because it decouples revenue from seat-count dynamics, and he expects AI-driven demand for preemptive security, along with forthcoming pricing and packaging changes, to further support growth and justify a Buy recommendation.

Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TENB in relation to earlier this year.