Cybersecurity software maker Tenable (NASDAQ:TENB) will be reporting earnings tomorrow after market close. Here's what you need to know.
Last quarter Tenable reported revenues of $195 million, up 18.7% year on year, beating analyst revenue expectations by 2.52%. It was a solid quarter for the company, with a meaningful improvement in its gross margin and a decent beat of analysts' revenue estimates.
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 13.5% year on year to $198.4 million, slowing down from the 26.1% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.18 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 2.32%.
Looking at Tenable's peers in the cybersecurity segment, only Varonis has so far reported results, with revenues decreasing 0.81% year on year, missing analyst estimates by 2.53%.
Read the full analysis of Varonis's results on StockStory. Tech stocks have been facing declining investor sentiment since 2022 and while some of the cybersecurity stocks have fared somewhat better, they have not been spared, with share price declining 8.09% over the last month. Tenable is down 7.34% during the same time, and is heading into the earnings with analyst price target of $55.2, compared to share price of $42.32.
The author has no position in any of the stocks mentioned.