- Needham analyst Mike Cikos reiterated a Buy rating on the shares of Tenable Holdings, Inc. (NASDAQ:TENB), lowering the price target to $48 from $51.
- Expectations for longer deal cycles, lower achievement rates, and lower Dollar-Based Net Expansion rates are likely to weigh on the stock going ahead, the analyst notes.
- Tenable Holdings recently lowered its outlook for Calculated Current Billings to $875 million – $885 million from the previously expected $915 million – $925 million. The lower end of the CCB guide is significantly lower than Needham’s $919.5 million, and reflects Y/Y growth of 13% at the midpoint.
- Given extended sales cycles and increased deal scrutiny, the analyst views Tenable’s reduced calculated current billings outlook as appropriate.
- However, the investors will have difficulty in matching management’s latest comments regarding new pipeline generation to the guidance cut, the analyst cautioned.
- Also Read: Tenable Gets Price Target Cuts By Analysts Following Weak Revenue Forecast, Shares Plunge
- Price Action: TENB shares are trading lower by 19.41% at $36.59 on the last check Tuesday.
Department Of Labor Announces Corporate-Wide Settlement Agreement With Dollar Tree, Family Dollar To Address Hazards At Thousands Of U.S. Stores; Companies Agreed To Pay $1.35M In Penalties
https://www.dol.gov/newsroom/releases/osha/osha20230823Agreement will enhance retailer's safety compliance, increase ability to manage safety, health hazardsThe U.S. Department of Labor announced today that its
