Tenable Holdings Inc. (NASDAQ: TENB) stock fell -0.54% on Friday to $41.98 against a previous-day closing price of $42.21. With 1.05 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.2 million shares. During the session, the Software – Infrastructure company that operates in wider Technology sector, reached to the highest price of $42.74 whereas the lowest price it dropped to was $40.34. The 52-week range on TENB shows that it touched its highest point at $63.61 and its lowest point at $36.67 during that stretch. It currently has a 1-year price target of $55.93. Beta for the stock currently stands at 1.38.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of TENB was up-trending over the past week, with a rise of 9.58%, but this was down by -14.22% over a month. Three-month performance dropped to -26.14% while six-month performance fell -16.81%. The stock lost -7.92% in the past year, while it has lost -23.77% so far this year. A look at the trailing 12-month EPS for TENB yields -0.72 with Next year EPS estimates of 0.39. For the next quarter, that number is 0.03. This implies an EPS growth rate of -3.70% for this year and 105.85% for next year. EPS is expected to grow by 15.30% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -0.60%.
Float and Shares Shorts:
At present, 109.52 million TENB shares are outstanding with a float of 108.70 million shares on hand for trading. On Jul 14, 2022, short shares totaled 3.61 million, which was 3.23% higher than short shares on Jun 14, 2022. In addition to Dr. Amit Yoran Ph.D. as the firm’s Chairman, Pres & CEO, Mr. John C. Huffard Jr. serves as its Co-Founder & Director.
Through their ownership of 88.63% of TENB’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 56.68% of TENB, in contrast to 30.76% held by mutual funds. Shares owned by individuals account for 20.71%. As the largest shareholder in TENB with 8.84% of the stake, Fidelity Management & Research Co holds 9,774,223 shares worth 9,774,223. A second-largest stockholder of TENB, The Vanguard Group, Inc., holds 9,665,294 shares, controlling over 8.74% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in TENB, holding 6,134,919 shares or 5.55% stake. With a 2.95% stake in TENB, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 3,266,688 shares are owned by the mutual fund manager. The First Trust NASDAQ Cybersecurity, which owns about 2.75% of TENB stock, is the second-largest Mutual Fund holder. It holds 3,039,549 shares valued at 138.03 million. Vanguard Small Cap Index Fund holds 2.53% of the stake in TENB, owning 2,794,293 shares worth 126.89 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2022, TENB reported revenue of $164.34M and operating income of -$23.22M. Over the past year, revenue came in at $611.39M while operating income stood at -$64.85M. It generated -$27.50M net income for the quarter, which came to -$79.30M over the last twelve months. The EBITDA in the recently reported quarter was -$19.84M and diluted EPS was -$0.25. EBITDA for the full year was -$48.16M.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TENB since 16 analysts follow the stock currently. There are 15 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With TENB analysts setting a high price target of $65.00 and a low target of $45.00, the average target price over the next 12 months is $55.47. Based on these targets, TENB could surge 54.84% to reach the target high and rise by 7.19% to reach the target low. Reaching the average price target will result in a growth of 32.13% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. TENB will report FY 2022 earnings on 01/31/2023. Analysts have provided yearly estimates in a range of $0.26 being high and $0.18 being low. For TENB, this leads to a yearly average estimate of $0.19. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Tenable Holdings Inc. surprised analysts by $0.04 when it reported $0.05 EPS against a consensus estimate of $0.01. The surprise factor in the prior quarter was $0.01. Based on analyst estimates, the high estimate for the next quarter is $0.04 and the low estimate is $0.02. The average estimate for the next quarter is thus $0.03.
Summary of Insider Activity:
Insiders traded TENB stock several times over the past three months with 23 Buys and 23 Sells. In these transactions, 164,028 shares were bought while 99,246 shares were sold. The number of buy transactions has increased to 71 while that of sell transactions has risen to 99 over the past year. The total number of shares bought during that period was 949,673 while 961,474 shares were sold.