Tenable (TENB) PT Raised to $60 at Scotiabank

Scotiabank analyst Patrick Colville raised the price target on Tenable (NASDAQ: TENB) to $60.00 (from $50.00) while maintaining a Sector Outperform rating.

The analyst commented: "We reiterate our Sector Outperform rating on Tenable following 3Q 2026 in which billings growth ticked up, but didn't quite deliver to raised investor expectations into the print. Tenable stated that PHP2Shell has generated significant customer interest and Hexa usage - though based on our latest proprietary CISO checks we do not expect it to have an outsized impact on actual spend. Management was upbeat on Tenable One adoption from both new and existing customers, which supported NRR expansion in 3Q. We upgraded Tenable back in July on the view that the company is an AI beneficiary as Mythos related readiness in 2026 drives accelerated budget growth and increases demand for exposure management and automated remediation. While we would have liked to have seen even more upward momentum in 3Q, we continue to believe Tenable has the right product suite to capture the burgeoning cybersecurity spend, particularly with Hexa, which only went GA in May."

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