Tenable Holdings (TENB) AI Stock Analysis

• Market Cap: $4.03B
• Dividend Yield: N/A
• Average Volume (3M): 1.53M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.87
• Revenue Growth: 11.79%
• EPS Growth: 35.35%
• Country: US
• Employees: 1,872
• Sector: Technology
• Sector Strength: 82
• Industry: Software - Infrastructure
• EPS (TTM): 0.36
• Shares Outstanding: 122,170,670
• 10 Day Avg. Volume: 2,123,082
• 30 Day Avg. Volume: 1,528,295
• PEG Ratio: 3.51
• Price to Book (P/B): 9.58
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 15.24
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: $37.11
• Price Target Upside: 12.08% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 19

Tenable Holdings demonstrates robust revenue growth and cash flow generation, supported by strategic leadership changes. However, persistent net losses, bearish technical indicators, and negative valuation metrics weigh on the overall score. The strong start to the fiscal year and strategic corporate events provide some optimism for future growth, but caution is advised due to macroeconomic uncertainties.

Positive Factors

Financial performance

Tenable delivered solid Q1 results in an otherwise mixed macro, topping all guided metrics.

Leadership stability

The confirmation of Steve Vintz and Mark Thurmond as co-CEOs should reassure investors the business is set up to carry on operating smoothly.

Revenue growth

Revenue growth of 10.7% exceeded consensus and the company beat estimates on all profitability metrics.

Negative Factors

Government policy impact

Tenable added additional risk commentary around the Federal vertical, stating the Trump administration's commitment and actions to reduce government spending could lead to fewer contract opportunities, elongated sales cycles and procurement decisions, or reduced funding for existing initiatives.

Market uncertainty

TENB added additional risk commentary around recent tariff actions and escalating trade tension which is causing market uncertainty and increased operating costs for certain customers.

Public sector disruption

Tenable is experiencing disruption in the public sector due to missing personnel from DOGE-related layoffs and is assuming longer lead times and sales cycles.

Tenable Holdings Business Overview & Revenue Model

Company Description

Tenable Holdings, Inc. is a leading cybersecurity company specializing in vulnerability management. Headquartered in Columbia, Maryland, Tenable provides a comprehensive suite of solutions designed to help organizations identify and mitigate cybersecurity risks. Their flagship product, Tenable.io, is a cloud-based platform that offers continuous visibility into an organization's IT environment to detect and respond to vulnerabilities. Tenable's offerings cater to various sectors, including government, financial services, healthcare, and education, providing critical insights to protect against cyber threats.

How the Company Makes Money

Tenable Holdings generates revenue primarily through the sale of subscriptions to its cybersecurity solutions. The company offers a range of products, including Tenable.io and Nessus, which are available in both on-premises and cloud-based formats. Customers typically pay recurring fees for access to these platforms, which provide ongoing vulnerability assessments and risk management capabilities. Additionally, Tenable earns revenue from professional services, such as training and consulting, which support the implementation and optimization of its products. Partnerships with managed security service providers (MSSPs) and alliances with technology companies also contribute to its revenue by expanding its market reach and enhancing its product offerings.

Tenable Holdings Financial Statement Overview

Summary

Tenable Holdings demonstrates strong revenue growth and solid cash flow management, crucial for a software company in a competitive market. However, challenges persist in achieving profitability at the net income level. The balance sheet reflects low leverage, providing stability, but improvements in equity and profitability would enhance the financial standing further.

Income Statement

Tenable Holdings shows a strong revenue growth trend, with a 12.7% increase from the previous year and a TTM revenue of $900M. Gross profit margin remains robust at 77.8% TTM, indicating efficient cost management. However, the company is still not profitable at the net income level, with a net loss of $36M TTM, impacting the net profit margin negatively at -4%. EBIT and EBITDA margins have improved, with EBIT turning positive, suggesting better operating efficiencies.

Balance Sheet

The company's balance sheet is stable, with a manageable debt-to-equity ratio of 0.16 TTM, indicating low financial leverage. The equity ratio is moderate at 22.9% TTM, suggesting room for improvement in strengthening equity base. Return on equity remains negative due to net losses, but the company has maintained a strong cash position, which provides financial flexibility.

Cash Flow

Tenable Holdings exhibits strong cash flow management, with operating cash flow significantly exceeding net income, reflected in a healthy operating cash flow to net income ratio of 5.99 TTM. Free cash flow has grown impressively by 46.9% from the previous year, supporting further investment and debt reduction strategies.

Breakdown
TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
923.20M	900.02M	798.71M	683.19M	541.13M	440.22M
	Gross Profit
720.00M	700.35M	615.13M	528.40M	434.73M	362.67M
	EBIT
-10.19M	-6.86M	-52.16M	-67.81M	-41.77M	-36.43M
	EBITDA
24.92M	46.24M	-8.95M	-44.09M	-27.56M	-26.44M
	Net Income Common Stockholders
-44.85M	-36.30M	-78.28M	-92.22M	-46.68M	-42.73M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
616.69M	577.19M	473.97M	567.43M	512.29M	291.85M
	Total Assets
1.42B	1.74B	1.61B	1.44B	1.25B	690.59M
	Total Debt
418.33M	63.02M	413.31M	420.40M	422.09M	58.34M
	Net Debt
57.90M	-265.62M	176.18M	119.54M	144.09M	-119.88M
	Total Liabilities
1.13B	1.34B	1.26B	1.17B	1.03B	539.92M
	Stockholders Equity
291.68M	399.95M	346.34M	270.87M	215.31M	150.66M
Cash Flow		Free Cash Flow
241.02M	213.23M	141.10M	112.00M	90.20M	43.95M
	Operating Cash Flow
254.56M	217.48M	149.85M	131.15M	96.77M	64.23M
	Investing Cash Flow
-161.97M	-41.43M	-212.62M	-128.04M	-391.59M	4.08M
	Financing Cash Flow
-116.12M	-79.40M	1.25M	23.32M	397.65M	36.40M

Tenable Holdings Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 33.11
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TENB, the sentiment is Neutral. The current price of 33.11 is above the 20-day moving average (MA) of 31.98, below the 50-day MA of 33.78, and below the 200-day MA of 39.19, indicating a neutral trend. The MACD of -0.24 indicates Negative momentum. The RSI at 52.51 is Neutral, neither overbought nor oversold. The STOCH value of 81.55 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TENB.

Tenable Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
QLYS	78 Outperform	$4.97B	27.72	40.23%	―	9.58%	12.41%
VRNT	72 Outperform	$1.12B	18.56	6.35%	―	-0.13%	263.78%
VRNS	66 Neutral	$5.14B	―	-22.21%	―	13.34%	13.71%
S	64 Neutral	$6.71B	―	-17.68%	―	32.25%	20.56%
RPD	61 Neutral	$1.58B	59.72	164.75%	―	6.19%	―
Sector *	60 Neutral	$11.64B	10.63	-6.94%	2.93%	7.63%	-11.15%
TENB	60 Neutral	$4.03B	―	-12.09%	―	11.79%	35.35%

Tenable Holdings Corporate Events

Tenable Holdings Expands Board with New Appointments

On May 14, 2025, Tenable Holdings, Inc. expanded its Board of Directors to ten members, appointing Stephen A. Vintz and Mark Thurmond as Class I directors, with terms expiring at the 2028 Annual Meeting of Stockholders. Additionally, during the 2025 annual meeting of stockholders, all nominees for director positions were elected, Ernst & Young LLP was ratified as the independent registered public accounting firm for 2025, and the compensation of the company’s named executive officers was approved.

The most recent analyst rating on (TENB) stock is a Hold with a $49.00 price target. To see the full list of analyst forecasts on Tenable Holdings stock, see the TENB Stock Forecast page.

Spark’s Take on TENB Stock

According to Spark, TipRanks’ AI Analyst, TENB is a Neutral.

Tenable Holdings demonstrates robust revenue growth and cash flow generation, supported by strategic leadership changes. However, persistent net losses, bearish technical indicators, and negative valuation metrics weigh on the overall score. The strong start to the fiscal year and strategic corporate events provide some optimism for future growth, but caution is advised due to macroeconomic uncertainties.

To see Spark’s full report on TENB stock, click here.

Tenable Holdings Appoints Vintz and Thurmond as Co-CEOs

On April 16, 2025, Tenable Holdings announced the permanent appointment of Stephen A. Vintz and Mark Thurmond as co-Chief Executive Officers. This decision follows their successful interim leadership, during which they expanded the company’s customer base and advanced its product offerings, including the strategic acquisition of Vulcan Cyber. The Board expressed confidence in their ability to drive innovation and long-term value, highlighting their collaborative leadership and industry expertise.

Spark’s Take on TENB Stock

According to Spark, TipRanks’ AI Analyst, TENB is a Neutral.

Tenable Holdings’ overall score is driven by strong financial performance and positive strategic initiatives, like the acquisition of Vulcan Cyber. However, the stock’s bearish technical indicators and negative valuation metrics, due to ongoing net losses, weigh heavily on the score. The positive outlook from the earnings call and strategic corporate events provide some optimism for future growth.

To see Spark’s full report on TENB stock, click here.

Tenable Holdings Appoints New Principal Accounting Officer

On February 19, 2025, Tenable Holdings appointed J. Barron Anschutz as its principal accounting officer. Mr. Anschutz has been with the company since 2017, advancing through roles in finance and accounting. His appointment is not based on any special arrangement or family connections within the company. This decision reflects Tenable’s ongoing strategic leadership development, potentially strengthening its financial governance and operational efficiency.