Robert W. Baird analyst Shrenik Kothari has maintained their bullish stance on TENB stock, giving a Buy rating yesterday.
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Shrenik Kothari has given his Buy rating due to a combination of factors that suggest a favorable outlook for Tenable Holdings. The company is expected to report strong results for the third quarter, benefiting from easier year-over-year comparisons and favorable seasonal dynamics, particularly in its federal segment. Despite recent stock underperformance, Tenable’s valuation remains attractive compared to historical averages and peers, which provides a potential upside if the company continues to execute well.
Furthermore, the recent appointment of Matthew Brown as CFO is seen as a positive development, likely to bring operational discipline and enhance execution focus. Channel feedback indicates strong execution and improved visibility, with Tenable’s platform gaining traction across federal and asset-centric verticals. The company’s ability to navigate customer-specific constraints and the increasing average recurring revenue per customer further support the positive outlook. Overall, these factors contribute to a favorable risk/reward scenario, justifying the Buy rating.
According to TipRanks, Kothari is a 5-star analyst with an average return of 24.9% and a 70.36% success rate. Kothari covers the Technology sector, focusing on stocks such as Tenable Holdings, Elastic, and Okta.
In another report released yesterday, J.P. Morgan also maintained a Buy rating on the stock with a $40.00 price target.