Tenable price target lowered to $40 from $52 at Wedbush

Wedbush analyst Daniel Ives lowered the firm’s price target on Tenable (TENB) to $40 from $52 to reflect a lower multiple and reduced estimate, while keeping an Outperform rating on the shares. The firm notes the company delivered strong Q1 results that featured beats on the top and bottom-lines but will be overshadowed by Q2 and FY25 coming in below the Street’s expectations as it operates in a very uncertain macro, especially in the public sector.