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.
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Read More on TENB:
- Tenable price target lowered to $45 from $50 at TD Cowen
- Tenable price target lowered to $40 from $50 at Piper Sandler
- Tenable Holdings: Strong Q1 Performance and Strategic Positioning Highlight Compelling Buy Opportunity
- Tenable price target lowered to $45 from $53 at Canaccord
- Tenable Holdings: Strong Operational Foundation and Attractive Valuation Amidst Revenue Guidance Adjustments