Tenable Holdings (TENB – Research Report), the Technology sector company, was revisited by a Wall Street analyst today. Analyst Kingsley Crane from Canaccord Genuity maintained a Buy rating on the stock and has a $53.00 price target.
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Kingsley Crane has given his Buy rating due to a combination of factors that position Tenable Holdings favorably in the market. The company has shown steady progress in becoming a broader exposure management platform, with significant growth in areas such as cloud security and the adoption of Tenable One, despite some inconsistencies in large new business activities. The expectation of a strong performance in calculated current billings (CBB) and the continuous momentum of Tenable One, which commands higher pricing, reinforces this positive outlook.
Moreover, the recent Vulcan Cyber acquisition is expected to contribute to revenue growth and strengthen Tenable’s position in the market. While the passing of CEO Amit Yoran introduces some uncertainty, the interim leadership is being managed effectively. The updated guidance for 2025, which includes potential contributions from Vulcan, suggests a continued positive trajectory. Overall, the metrics show promise on a Rule of 40 basis, making Tenable an attractive investment opportunity at its current valuation.
In another report released yesterday, J.P. Morgan also reiterated a Buy rating on the stock with a $50.00 price target.
Based on the recent corporate insider activity of 81 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TENB in relation to earlier this year.