UPDATE: JPMorgan Upgrades Tenable (TENB) to Overweight

(Updated - October 30, 2019 4:35 AM EDT)

(update comment)

JPMorgan analyst Sterling Auty upgraded Tenable (NASDAQ: TENB) from Neutral to Overweight with a price target of $31.00 (from $40.00).

The analyst comments "The stock has significantly underperformed our overall coverage year-to-date as it got caught in the software market downdraft with a business profile known to lag during software market corrections (small-cap, negative operating margins, and revenue multiple above the industry average). But at this point, the company has shown increasing strength over the last three quarters where the upside to estimates has actually grown, and now the stock is trading at ~5x 2020 EV/Sales while producing 30% plus topline growth and a significantly improving operating leverage profile. We believe the stock is positioned for a catch up trade here in the fourth quarter and so we are upgrading to Overweight."

For an analyst ratings summary and ratings history on Tenable click here. For more ratings news on Tenable click here.

Shares of Tenable closed at $22.40 yesterday.

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