Needham analyst Mike Cikos lowered the firm’s price target on Tenable (TENB) to $38 from $42 and keeps a Buy rating on the shares. The company reported solid results with calculated current billings growth of 8% to $267.5M topping the consensus estimate by $3M as it continues to see strong uptake of the Tenable One platform, which represented roughly 40% of new business, the analyst tells investors in a research note. The management also cited improved visibility and consistent renewal rates before raising Billings guidance by $1M at the midpoint, the firm added.
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