Tenable initiated with Sector Perform on valuation at Scotiabank

Scotiabank last night initiated coverage of Tenable Holdings with a Sector Perform rating and $47 price target. The company is gaining share in vulnerability management and customers are adopting Tenable One and looking at cloud security, the analyst tells investors in a research note. However, the firm thinks the investment positives are already factored into the shares. It notes the shares trade at a 70% valuation premium to Rapid7 and Qualys.