Fintel reports that on September 18, 2023, TD Cowen initiated coverage of Tenable Holdings (NASDAQ:TENB) with an Outperform recommendation.
Analyst Price Forecast Suggests 19.32% Upside
As of August 31, 2023, the average one-year price target for Tenable Holdings is $54.42. The forecasts range from a low of $35.35 to a high of $63.00. The average price target represents an increase of 19.32% from its latest reported closing price of $45.61.
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The projected annual revenue for Tenable Holdings is $835 million, an increase of 12.39%. The projected annual non-GAAP EPS is $0.53.
What is the Fund Sentiment?
There are 572 funds or institutions reporting positions in Tenable Holdings. This is a decrease of 29 owners or 4.83% in the last quarter. The average portfolio weight of all funds dedicated to TENB is 0.35%, a decrease of 12.72%. Total shares owned by institutions increased in the last three months by 1.74% to 116,356K shares. 
The put/call ratio of TENB is 0.87, indicating a bullish outlook.
What are Other Shareholders Doing?
RGM Capital holds 4,040K shares representing 3.49% ownership of the company. In its prior filing, the firm reported owning 3,568K shares, representing an increase of 11.69%. The firm decreased its portfolio allocation in TENB by 2.97% over the last quarter.
First Trust Advisors holds 3,576K shares representing 3.09% ownership of the company. In its prior filing, the firm reported owning 3,490K shares, representing an increase of 2.41%. The firm decreased its portfolio allocation in TENB by 7.37% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 3,521K shares representing 3.04% ownership of the company. In its prior filing, the firm reported owning 3,490K shares, representing an increase of 0.87%. The firm decreased its portfolio allocation in TENB by 14.68% over the last quarter.
CIBR – First Trust NASDAQ Cybersecurity ETF holds 3,189K shares representing 2.76% ownership of the company. In its prior filing, the firm reported owning 3,158K shares, representing an increase of 0.95%. The firm decreased its portfolio allocation in TENB by 10.75% over the last quarter.
Mackenzie Financial holds 2,994K shares representing 2.59% ownership of the company. In its prior filing, the firm reported owning 2,762K shares, representing an increase of 7.74%. The firm increased its portfolio allocation in TENB by 1.85% over the last quarter.
Tenable Holdings Background Information
(This description is provided by the company.)
Tenable® is the Cyber Exposure company. Over 30,000 organizations around the globe rely on Tenable to understand and reduce cyber risk. As the creator of Nessus®, Tenable extended its expertise in vulnerabilities to deliver the world’s first platform to see and secure any digital asset on any computing platform. Tenable customers include more than 50 percent of the Fortune 500, more than 30 percent of the Global 2000, and large government agencies.
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This story originally appeared on Fintel.
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