Tenable Holdings Inc. [NASDAQ: TENB] surged by $0.54 during the normal trading session on Monday and reaching a high of $34.90 during the day while it closed the day at $34.47. The company report on July 31, 2020 that Tenable Announces Pricing of Public Offering of Common Stock by Selling Stockholders.
Tenable (Nasdaq: TENB), the Cyber Exposure company, today announced the pricing of an underwritten public offering of 8,000,000 shares of its common stock by certain existing stockholders of Tenable at a price to the public of $31.95 per share. The offering is expected to close on or about August 4, 2020, subject to the satisfaction of customary closing conditions. In addition, the selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 1,200,000 shares of common stock from them at the public offering price, less underwriting discounts and commissions. Tenable will not receive any proceeds from the sale of shares of common stock by the selling stockholders.
J.P. Morgan, Morgan Stanley and Barclays are acting as joint book-running managers for the offering. Stifel is acting as passive book-running manager for the offering. Allen & Company LLC, William Blair, Piper Sandler, SunTrust Robinson Humphrey and Wedbush Securities are acting as co-managers for the offering.
Tenable Holdings Inc. stock has also gained 12.57% of its value over the past 7 days. However, TENB stock has inclined by 34.96% in the 3 months of the year. Over the past six months meanwhile, it has gained 22.19% and gained 43.86% year-on date.
The market cap for TENB stock reached $3.29 billion, with 100.21 million shares outstanding and 84.84 million shares in the current float. Compared to the average trading volume of 1.14M shares, TENB reached a trading volume of 2258220 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Tenable Holdings Inc. [TENB]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TENB shares is $37.82 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TENB stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
SunTrust have made an estimate for Tenable Holdings Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 29, 2020. While these analysts kept the previous recommendation, Monness Crespi & Hardt raised their target price to Buy. The new note on the price target was released on April 15, 2020, representing the official price target for Tenable Holdings Inc. stock. Previously, the target price had yet another raise to $29, while Goldman analysts kept a Buy rating on TENB stock. On October 30, 2019, analysts decreased their price target for TENB shares from 40 to 31.
The Average True Range (ATR) for Tenable Holdings Inc. is set at 1.79, with the Price to Sales ratio for TENB stock in the period of the last 12 months amounting to 8.25. The Price to Book ratio for the last quarter was 31.05, with the Price to Cash per share for the same quarter was set at 2.54.
TENB stock trade performance evaluation
Tenable Holdings Inc. [TENB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 12.57. With this latest performance, TENB shares gained by 16.57% in over the last four-week period, additionally plugging by 22.19% over the last 6 months – not to mention a rise of 40.64% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TENB stock in for the last two-week period is set at 60.74, with the RSI for the last a single of trading hit 62.19, and the three-weeks RSI is set at 60.00 for Tenable Holdings Inc. [TENB]. The present Moving Average for the last 50 days of trading for this stock 30.44, while it was recorded at 33.31 for the last single week of trading, and 26.26 for the last 200 days.
Tenable Holdings Inc. [TENB]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Tenable Holdings Inc. [TENB] shares currently have an operating margin of -24.48 and a Gross Margin at +82.85. Tenable Holdings Inc.’s Net Margin is presently recorded at -27.92.
Return on Total Capital for TENB is now -62.70, given the latest momentum, and Return on Invested Capital for the company is -74.06. Return on Equity for this stock declined to -89.74, with Return on Assets sitting at -19.43. When it comes to the capital structure of this company, Tenable Holdings Inc. [TENB] has a Total Debt to Total Equity ratio set at 46.38. Additionally, TENB Total Debt to Total Capital is recorded at 31.68, with Total Debt to Total Assets ending up at 8.21. Long-Term Debt to Equity for the company is recorded at 41.11, with the Long-Term Debt to Total Capital now at 28.09.
Reflecting on the efficiency of the workforce at the company, Tenable Holdings Inc. [TENB] managed to generate an average of -$67,037 per employee. Receivables Turnover for the company is 4.35 with a Total Asset Turnover recorded at a value of 0.70.Tenable Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.20.
Earnings per share (EPS) analysis for Tenable Holdings Inc. [TENB] stock
With the latest financial reports released by the company, Tenable Holdings Inc. posted -0.07/share EPS, while the average EPS was predicted by analysts to be reported at -0.11/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 36.40%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for TENB. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Tenable Holdings Inc. go to 9.80%.
Tenable Holdings Inc. [TENB]: Insider Ownership positions
There are presently around $2,434 million, or 80.50% of TENB stock, in the hands of institutional investors. The top three institutional holders of TENB stocks are: INSIGHT HOLDINGS GROUP, LLC with ownership of 26,390,576, which is approximately 0.097% of the company’s market cap and around 1.50% of the total institutional ownership; MACKENZIE FINANCIAL CORP, holding 4,293,583 shares of the stock with an approximate value of $148.0 million in TENB stocks shares; and CHAMPLAIN INVESTMENT PARTNERS, LLC, currently with $143.14 million in TENB stock with ownership of nearly 6.8% of the company’s market capitalization.
Positions in Tenable Holdings Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 95 institutional holders increased their position in Tenable Holdings Inc. [NASDAQ:TENB] by around 10,404,662 shares. Additionally, 71 investors decreased positions by around 5,704,210 shares, while 16 investors held positions by with 54,493,621 shares. The mentioned changes placed institutional holdings at 70,602,493 shares, according to the latest SEC report filing. TENB stock had 35 new institutional investments in for a total of 2,971,678 shares, while 39 institutional investors sold positions of 3,710,647 shares during the same period.