Tenable Holdings price target raised to $51 from $48 at Needham

Needham analyst Mike Cikos raised the firm’s price target on Tenable Holdings to $51 from $48 and keeps a Buy rating on the shares. The company’s Q4 earnings beat was driven by its expenditure discipline, and its guidance should be enough to clear the bar versus investor expectation, the analyst tells investors in a research note. The firm adds that the quarter was "very "backend loaded" amid greater customers’ budget scrutiny earlier in the period, but also as a function of Tenable becoming a more strategic partner to customers by selling Tenable One, which carries a larger purchase price.