Tenable Holdings is a cyber-security company, which offers tech expertise and SaaS platforms to assess and manage data vulnerability. Tenable operates at a net loss as many other small-cap tech companies. Its subsidiaries provided cloud solutions for businesses worldwide, in the energy, education, healthcare, finance, and retail sectors.
The company hasn’t brought significant gains to the investors so far, but it has made big progress. Analysts think that it will turn more profitable soon. Even though the stock market has been volatile during the last months, Tenable Holdings managed to stay afloat.
The majority of the stocks suffered severe losses over the last quarter due to the coronavirus pandemic. And the new quarter began with a bearish market. However, Tenable has been surging forward for some time now. Goldman Sachs analysts advise buying this stock. While the company has a low point of entry, it promises a high upside.
Why do the analysts recommend Tenable Holdings?
The company has beaten the experts’ estimates for the previous six quarters. Furthermore, Tenable surpassed the forecast by 4 cents in the last quarter, reporting only a 24 cent loss per share despite the global crisis.
The company’s revenues are rising. They reached $97 million in the fourth quarter, representing 29% year-over-year growth. That’s why Goldman Sachs tech sector expert, Brian Essex, thinks that Tenable is a strong-buy. He set his price target at $29 for this stock, indicating a 29% upside potential.
Furthermore, the company can leverage its best-of-breed reputation in vulnerability assessment to get further traction among enterprises looking to evaluate their risk exposure. According to Essex, Tenable has been growing rapidly during the last several years.
The stock’s average price target is set at $33 per share, and it suggests a 47% upside from the current share price. Wall Street analysts agree on Tenable’s bullish stance.
