The stock of Tenable Holdings, Inc. (NASDAQ:TENB) is now priced at $39.91 and the shares are 2.27 points up or 6.03% higher compared to its previous closing price of $37.64. The stock had 1.948 million contracts set over the past session. TENB shares’ daily volume is compared to its average trading volume at 1.212 million shares. However, it has a float of 86.21 million and although its performance was 12.45% over the week, it’s one to watch. Analysts have given the TENB stock a yearly average price target of $37.8 per share. It means the stock’s downside potential is -5.29% with the TENB share price recently placing at $37.275 to $40.12. However, some brokerage firms have priced the stock below the average, including one that has called $31.
The shorts are climbing into the Tenable Holdings, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the TENB shares have risen. Short interest in the stock represents just 3.23% of its float, but the volume has raised by 613089. The volume of shorted shares rised to 2.781 million from 2.168 million shares over the last two weeks. The average intraday trading volume has been 1.089 million shares, which means that days to cover moved to roughly 2.553922.
In the last trading session, Tenable Holdings, Inc. (NASDAQ:TENB) raised by $4.42 over the week and gained $6.23 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $40.12. The stock recorded its established 52-week high on 09/01/20.
Since 03/19/20, the stock has traded to a low of $16.28 at 145.15%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Tenable Holdings, Inc.’s two-week RSI is 74.96. This suggests that the stock is oversold at the moment and that TENB shares’ price movement remains not stable. The stochastic readings are equally revealing at 95.13% meaning the TENB share price is currently in oversold territory.
The technical chart shows that the TENB stock will likely settle at between $40.93 and $41.95 per share. However, if the stock dips below $38.08, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $36.26.
Currently, the stock is trading in the green of MACD, with a reading of 1.83. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at SunTrust raised their recommendation for TENB from Hold to Buy in July 29 review while maintain their target price of $25 to $40. Monness Crespi & Hardt analysts see the stock as a Buy with a target price of $30 in a flash note released to investors on April 15 initiating covering the stock. Goldman analysts see the stock as Buy when the analysts initiated the share price coverage on March 25, placing it at $29.
The average rating for the TENB equity is 1.83 and is currently gathering a bullish momentum. Of 12 analysts tracking Tenable Holdings, Inc. polled by Reuters, 1 rated TENB as a hold. The remaining 11 analysts were split evenly. However, the split wasn’t equal as a majority (11) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the TENB stock price is 304.66X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands below the group’s average of 40.9. Tenable Holdings, Inc. has its P/E ratio at 36.4, which means that the stock is currently trading at a premium relative to the 13.6 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Tenable Holdings, Inc. (NASDAQ:TENB) will decrease by about -99.9%, which will see them reach $110 million. The company’s full-year revenues are, however, expected to increase by about 21.85%, up from $355 million to $432 million. TENB’s expected adjusted earnings should drop almost -142.86% to end up at $0.03 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -104.76% to record $0.02/share.