Tenable (TENB) PT Lowered to $55 at Piper Sandler

Piper Sandler analyst Rob Owens lowered the price target on Tenable (NASDAQ: TENB) to $55.00 (from $60.00) while maintaining a Overweight rating.

The analyst commented, "Despite beating on revenue, margins and EPS for the quarter, a lower than expected current billings result and concurrent discussion around extending sales cycles and large deal softness compounded in a reduced outlook for the second half. Fundamentals surrounding VM remain cyclically weak, though Tenable One and cloud are continuing to show some positive momentum. We do note an initial uFCF guide for 2025 was well above our prior thinking, as commitment to profitability remains front and center. Remain Overweight, but target comes in to $55 (prior $60)."

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