Why Tenable Holdings Shares Are Trading Higher Today

Tenable Holdings Inc TENB shares are trading higher Wednesday after the company reported better-than-expected financial results and issued strong guidance. 

• Q2 Revenue: $195.04 million beat estimates of $190.19 million
• Q2 EPS: 22 cents beat estimates of 13 cents

"We are very pleased with our Q2 results, which included better than expected top-line growth and a sizable beat in earnings," said Amit Yoran, chairman and CEO of Tenable.

"Our traction with Tenable One strategically positions us to win in the exposure management market as we help customers protect their organizations and consolidate their security spend."

Outlook: Tenable said it sees third-quarter revenue in the range of $197 million to $199 million versus estimates of $195.88 million. Full-year revenue is expected to be between $783 million and $791 million versus estimates of $780.99 million.

On the earnings front, Tenable sees third-quarter adjusted earnings of 18 to 19 cents versus estimates of 16 cents. The company anticipates full-year earnings of 65 to 69 cents versus estimates of 59 cents. 

Following the company's quarterly results, Needham analyst Mike Cikos maintained Tenable with a Buy rating and raised the price target from $48 to $55.

See Also: Why PacWest Bancorp Shares Are Trading Higher By Over 35%; Here Are 20 Stocks Moving Premarket

TENB Price Action: Tenable shares were up 10.3% at $48.30 at the time of publication, according to Benzinga Pro. 

This illustration was generated using artificial intelligence via MidJourney.