Why Tenable Holdings Stock Is Trading Lower Tuesday

Tenable Holdings Inc TENB shares are trading lower Tuesday after the company reported first-quarter results and issued weak revenue guidance. Several analysts also cut price targets following the print.

• Q1 Revenue: $188.84 million beat estimates of $187.09 million
• Q1 EPS: 11 cents beat estimates of 3 cents

"Despite the macro uncertainty, we continue to gain traction with Tenable One, our Exposure Management Platform, as organizations are increasingly consolidating their spend and looking for cybersecurity solutions that drive return on investment," said Amit Yoran, chairman and CEO of Tenable.

Outlook: Tenable sees second-quarter revenue in a range of $189 million to $191 million versus estimates of $193.75 million. The company expects second-quarter earnings of 12 cents to 13 cents per share versus estimates of 10 cents per share.

Tenable guided for full-year revenue of $775 million to $785 million versus estimates of $805.35 million. The company sees full-year earnings in a range of 57 cents to 61 cents per share versus estimates of 53 cents per share.

See Also: Nasdaq, S&P 500 Futures Slide Ahead Of Microsoft, Alphabet Earnings — Analyst Flags 3 Key Things That Could Impact May Fed Decision

Analyst Assessment: 

• Barclays analyst Saket Kalia lowered the price target from $50 to $44.
• Wells Fargo analyst Andrew Nowinski lowered the price target from $58 to $52.
• Needham analyst Mike Cikos lowered the price target from $51 to $48.
• Wedbush analyst Daniel Ives lowered the price target from $51 to $45.
• Morgan Stanley analyst Hamza Fodderwala lowered the price target from $48 to $44.
• Stifel analyst Brad Reback lowered the price target from $53 to $47.
• DA Davidson analyst Rudy Kessinger lowered the price target from $54 to $48.
• Piper Sandler analyst Rob Owens lowered the price target from $55 to $50.

TENB Price Action: Tenable shares were down 20.7% at $36 at time of publication, according to Benzinga Pro.

This illustration was generated using artificial intelligence via MidJourney.