Cybersecurity software maker Tenable (NASDAQ:TENB) will be announcing earnings results tomorrow after the bell. Here's what investors should know.
Last quarter Tenable reported revenues of $201.5 million, up 15.3% year on year, beating analyst revenue expectations by 1.6%. It was a mixed quarter for the company, with a decent beat of analysts' revenue estimates but underwhelming revenue guidance for the next quarter.
Is Tenable buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting Tenable's revenue to grow 12% year on year to $206.7 million, slowing down from the 23.9% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.14 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company has a history of exceeding Wall St's expectations, beating revenue estimates every single time over the past two years on average by 2.1%.
With Tenable being the first among its peers to report earnings this season, we don't have anywhere else to look at to get a hint of how this quarter will unravel for cybersecurity stocks, but there has been positive sentiment among investors in the segment, with the stocks up on average 4.2% over the last month. Tenable is up 9.4% during the same time, and is heading into the earnings with analyst price target of $52.8, compared to share price of $47.9.
The author has no position in any of the stocks mentioned.
