Tenable Holdings price target raised to $60 from $50 at Piper Sandler

Piper Sandler raised the firm’s price target on Tenable Holdings to $60 from $50 and keeps an Overweight rating on the shares. The firm notes that improvement on many fronts led to a solid beat in Q4 and an upbeat outlook despite annual guide for 2024 coming in slightly lower than street forecasts. Refined GTM serves to meaningfully drive margins en route to a set up that should position the company at a rule of 40 for the coming year if modest upside plays out, Piper says.