Tenable Holdings price target raised to $62 from $56 at Needham

Needham raised the firm’s price target on Tenable Holdings to $62 from $56 and keeps a Buy rating on the shares. The company’s Calculated Current Billings growth outlook for 2024 came in below consensus expectations for the second consecutive quarter, but despite the shortfall, Tenable is expected to drive significantly stronger profitability, the analyst tells investors in a research note. Tenable management also specifically noted that last month’s reduction in force had a minimal impact on quota-bearing capacity.