Tenable Holdings Inc. (NASDAQ:TENB) closed Wednesday at $42.21 per share, up from $38.94 a day earlier. While Tenable Holdings Inc. has overperformed by 8.40%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, TENB fell by -6.66%, with highs and lows ranging from $63.61 to $36.67, whereas the simple moving average fell by -17.54% in the last 200 days.
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On April 12, 2022, DA Davidson started tracking Tenable Holdings Inc. (NASDAQ: TENB) recommending Buy. A report published by Wolfe Research on April 11, 2022, Initiated its previous ‘Outperform’ rating for TENB. Needham also reiterated TENB shares as ‘Buy’, quoting a target price of $66 on the company’s shares in a report dated December 29, 2021. Wells Fargo Initiated an Overweight rating on October 05, 2021, and assigned a price target of $60. Berenberg September 24, 2021d its ‘Hold’ rating to ‘Buy’ for TENB, as published in its report on September 24, 2021. FBN Securities’s report from August 25, 2021 suggests a price prediction of $60 for TENB shares, giving the stock a ‘Outperform’ rating. Needham also rated the stock as ‘Buy’.
Analysis of Tenable Holdings Inc. (TENB)
Further, the quarter-over-quarter increase in sales is 29.40%, showing a positive trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Tenable Holdings Inc.’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of -22.60% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.60, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
As an indicator of volatility for any stock, average volume can also be very valuable, and TENB is recording an average volume of 1.19M. On a monthly basis, the volatility of the stock is set at 5.66%, whereas on a weekly basis, it is put at 5.30%, with a gain of 11.55% over the past seven days. Furthermore, long-term investors anticipate a median target price of $55.93, showing growth from the present price of $42.21, which can serve as yet another indication of whether TENB is worth investing in or should be passed over.
How Do You Analyze Tenable Holdings Inc. Shares?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.40%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 88.00% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in TENB shares?
The recent increase in stakes in TENB appears to be a result of several institutional investors and hedge funds increasing their positions. Fidelity Management & Research Co’s position in TENB has increased by 32.61% in the first quarter. The company now owns 9,774,223 shares of the stock, with a value of $443.85 million, following the purchase of 2,403,463 additional shares during the last quarter. The Vanguard Group, Inc. made another increased to its shares in TENB during the first quarter, upping its stake by 6.72%. During the last quarter, the company picked up 608,524 additional shares for a total stake of worth $438.9 million, bringing number of shares owned by the company to 9,665,294.
During the first quarter, BlackRock Fund Advisors added a 72,071 position in TENB. RGM Capital LLC sold an additional -0.2 million shares in the last quarter, decreasing its holdings by -6.05%, now holding 3.16 million shares worth $143.42 million. At the end of the first quarter, Mackenzie Financial Corp. increased its TENB holdings by 1.28% and now holds 3.03 million TENB shares valued at $137.52 million with the added 38358.0 shares during the period. TENB shares are owned by institutional investors to the tune of 88.00% at present.