Cybersecurity software maker Tenable (NASDAQ:TENB) will be reporting results tomorrow after market close. Here’s what you need to know.
Tenable beat analysts’ revenue expectations by 1.8% last quarter, reporting revenues of $235.7 million, up 10.5% year on year. It was a mixed quarter for the company, with an impressive beat of analysts’ EBITDA estimates but EPS guidance for next quarter missing analysts’ expectations significantly.
Is Tenable a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Tenable’s revenue to grow 8.2% year on year to $233.6 million, slowing from the 14.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.28 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Tenable has missed Wall Street’s revenue estimates twice over the last two years.
With Tenable being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for cybersecurity stocks. However, investors in the segment have had steady hands going into earnings, with share prices up 1.2% on average over the last month. Tenable is down 5.4% during the same time and is heading into earnings with an average analyst price target of $45.80 (compared to the current share price of $33.10).
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