Updated Aug 13 at 5:04pm ET.
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The company added new features to its Tenable One platform that scan for security holes in popular AI tools, including Google Gemini and Microsoft Copilot. As more businesses rush to use these large language models, they create new ways for hackers to get in. By covering these tools, Tenable makes its platform more useful for companies trying to secure their entire digital footprint in one place.
Source: GlobeNewsWire
Jefferies analysts lowered their price target to $30, which is about 17 percent below where the stock currently sits. While the company recently beat quarterly expectations, this lower target suggests some analysts are skeptical about how quickly the business can grow its newer platform services compared to its older scanning tools.
Source: Jefferies
Susquehanna analysts raised their target for the stock to $36, a roughly 38 percent jump from their previous level. The move follows a quarter where the company showed it could grow its profit margins while successfully moving customers toward its more expensive, all-in-one security platform.
Source: Susquehanna
The company brought in about 269 million dollars in revenue, up nearly 9 percent from last year. It also earned 51 cents per share, beating the 47 cents analysts expected.
More importantly, the company is becoming more efficient. Its non-GAAP operating margin, which shows how much profit it makes on each dollar of sales after regular costs, rose to nearly 25 percent. Management raised their outlook for the full year, suggesting that their plan to sell more comprehensive security packages to existing customers is working.
See the full quarter, and how our tracked metrics did
Source: 8-K filing
The company launched Hexa AI, which it calls an "agentic" engine. This means the software can act more independently to scan a company's systems and identify which security holes are the most dangerous. This is part of a broader push to use AI to make their security platform more automated, which helps customers manage complex networks with fewer people.
Source: GlobeNewsWire
Analysts issued a flurry of rating changes and price target cuts following the company's recent earnings report. While 15 of 29 analysts still rate the stock a buy, the average target of $35 sits 14% below the current price.
The company has beaten analyst profit targets for eight straight quarters, usually by a few cents. This suggests management is conservative with its forecasts and consistently clears the bar.
| Expectation | |
|---|---|
| EPS | $0.51 |
| Revenue | $272M |
