In a report released today, Shaul Eyal from TD Cowen reiterated a Buy rating on Tenable Holdings, with a price target of $38.00.
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Shaul Eyal has given his Buy rating due to a combination of factors tied to Tenable’s fundamentals and valuation. He acknowledges near-term pressure on current cash billings from shorter contract invoicing, but emphasizes that underlying demand appears healthy, supported by expanding contract duration and growing traction for Tenable One and its AI-powered exposure management offerings.
He also points to robust profitability, with revenue growth expected to align with Street forecasts and operating margins showing room for further expansion through cost discipline and improved sales efficiency. In his view, the stock’s enterprise value to forward revenue multiple has compressed to an unusually low level, making Tenable look undervalued and increasingly attractive as a potential acquisition candidate, which supports maintaining a Buy rating and a $38 price target.
According to TipRanks, Eyal is a 5-star analyst with an average return of 15.2% and a 53.55% success rate. Eyal covers the Technology sector, focusing on stocks such as Check Point, Palo Alto Networks, and Fortinet.