Tenable Holdings Inc. (NASDAQ: TENB) stock fell -6.97% on Tuesday to $37.40 against a previous-day closing price of $40.20. With 1.19 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.94 million shares. During the session, the Software – Infrastructure company that operates in wider Technology sector, reached to the highest price of $40.22 whereas the lowest price it dropped to was $37.38. The 52-week range on TENB shows that it touched its highest point at $53.75 and its lowest point at $28.80 during that stretch. It currently has a 1-year price target of $47.36. Beta for the stock currently stands at 1.23.
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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 down-trending over the past week, with a drop of -1.58%, but this was down by -17.62% over a month. Three-month performance dropped to -13.51% while six-month performance fell -3.86%. The stock lost -20.96% in the past year, while it has lost -1.97% so far this year. A look at the trailing 12-month EPS for TENB yields -0.83 with Next year EPS estimates of 0.78. For the next quarter, that number is 0.13. This implies an EPS growth rate of -88.80% for this year and 31.25% for next year. EPS is expected to grow by 41.90% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -5.10%.
Float and Shares Shorts:
At present, 113.79 million TENB shares are outstanding with a float of 110.76 million shares on hand for trading. On Apr 27, 2023, short shares totaled 3.59 million, which was 3.12% higher than short shares on Mar 30, 2023. 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.
Institutional Ownership:
Through their ownership of 90.04% of TENB’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 55.60% of TENB, in contrast to 36.15% held by mutual funds. Shares owned by individuals account for 20.33%. As the largest shareholder in TENB with 9.69% of the stake, The Vanguard Group, Inc. holds 11,008,997 shares worth 11,008,997. A second-largest stockholder of TENB, Fidelity Management & Research Co, holds 7,909,830 shares, controlling over 6.96% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in TENB, holding 7,740,994 shares or 6.81% stake. With a 3.07% stake in TENB, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 3,489,619 shares are owned by the mutual fund manager. The First Trust NASDAQ Cybersecurity, which owns about 2.73% of TENB stock, is the second-largest Mutual Fund holder. It holds 3,098,660 shares valued at 114.62 million. Vanguard Small Cap Index Fund holds 2.60% of the stake in TENB, owning 2,958,528 shares worth 109.44 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 Mar 30, 2023, TENB reported revenue of $164.34M and operating income of -$23.22M. The EBITDA in the recently reported quarter was -$19.84M and diluted EPS was -$0.25.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TENB since 0 analysts follow the stock currently. 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 $55.00 and a low target of $42.00, the average target price over the next 12 months is $47.67. Based on these targets, TENB could surge 47.06% to reach the target high and rise by 12.3% to reach the target low. Reaching the average price target will result in a growth of 27.46% 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.
Summary of Insider Activity:
Insiders traded TENB stock several times over the past three months with 1 Buys and 11 Sells. In these transactions, 18,034 shares were bought while 67,393 shares were sold. The number of buy transactions has increased to 48 while that of sell transactions has risen to 50 over the past year. The total number of shares bought during that period was 451,749 while 254,230 shares were sold.
