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 $227.1 million, up 12.7% year on year. It was a satisfactory quarter for the company, with full-year EPS guidance exceeding analysts’ expectations but a significant miss of analysts’ annual recurring revenue estimates.
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 8.6% year on year to $231.6 million, slowing from the 15.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.34 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 three times 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, there has been positive investor sentiment in the segment, with share prices up 3.4% on average over the last month. Tenable is up 9% during the same time and is heading into earnings with an average analyst price target of $48.51 (compared to the current share price of $43.78).
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