Stephens raised its price target on Tenable Holdings Inc. (NASDAQ:TENB) to $29 from $24, maintaining an Equal Weight rating. The firm highlighted Tenable's strategic focus on exposure management.
Tenable's investor meeting reinforced its platform vision, viewing AI as an opportunity rather than a disruptor. The growth strategy centers on driving adoption of Tenable One.
The company's platform strength is shown in its 78% gross profit margin. Increasing the Tenable One mix remains key to accelerating growth. Catalysts include migrating VM customers, new pricing, and Hexa AI remediation features.
Tenable's 2029 targets suggest growth acceleration will take time. Stephens believes accelerating growth is crucial for improving investor sentiment amid AI disruption concerns.
