Tenable price target lowered to $50 from $55 at Piper Sandler

Piper Sandler lowered the firm’s price target on Tenable (TENB) to $50 from $55 and keeps an Overweight rating on the shares. The firm notes results for Q3 were solid, showing upside to expectations across the board. However, Piper believes many investors will be disappointed by the early look into 2025 CCB, which implies roughly 8%-9% growth, well below pre-existing expectations.