Tenable price target lowered to $30 from $45 at Stifel

Stifel lowered the firm’s price target on Tenable (TENB) to $30 from $45 and keeps a Hold rating on the shares. While Tenable delivered a strong start to the year and fiscal Q2 top-line revenue guidance was modestly above expectations, Tenable modestly guided down FY25 Calculated Current Billings and revenue growth given growing uncertainty across the public-sector and enterprise, the analyst noted. It is “not too surprising” to see Tenable look to de-risk fiscal year estimates given the more volatile macro backdrop and larger Fed exposure, but the firm awaits further signs of execution progress and improving VM prioritization before becoming more constructive, the analyst added.