While Tenable Holdings Inc has underperformed by -0.67%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, TENB rose by 3.51%, with highs and lows ranging from $53.50 to $33.85, whereas the simple moving average jumped by 6.25% in the last 200 days.
On February 07, 2024, Needham Reiterated Tenable Holdings Inc (NASDAQ: TENB) to Buy. A report published by Morgan Stanley on January 09, 2024, Upgraded its rating to ‘Overweight’ for TENB. Susquehanna also rated TENB shares as ‘Positive’, setting a target price of $55 on the company’s shares in an initiating report dated December 15, 2023. Barclays October 09, 2023d the rating to Equal Weight on October 09, 2023, and set its price target from $51 to $47. TD Cowen initiated its ‘Outperform’ rating for TENB, as published in its report on September 18, 2023. JP Morgan’s report from September 11, 2023 suggests a price prediction of $56 for TENB shares, giving the stock a ‘Overweight’ rating. Stephens also rated the stock as ‘Overweight’.
Analysis of Tenable Holdings Inc (TENB)
Further, the quarter-over-quarter increase in sales is 15.53%, showing a positive trend in the upcoming months.
Tenable Holdings Inc’s future performance can be predicted by a variety of well-rounded types of analysis and research, with equity being one of the most crucial ones. The goal here is to ensure that your current return on equity of -25.37% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.12, 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.
For any stock, average volume can be an extremely valuable indicator of volatility, and TENB is registering an average volume of 1.01M. On a monthly basis, the volatility of the stock is set at 2.84%, whereas on a weekly basis, it is put at 2.85%, with a loss of -1.04% over the past seven days. Furthermore, long-term investors anticipate a median target price of $59.35, showing growth from the present price of $47.51, 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?
Besides checking the fundamentals, you should also know how many employees own shares in the company. 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 1.71%. 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 89.70% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
TENB shares are owned by institutional investors to the tune of 89.70% at present.
