Yahoo Finance Tenable (TENB) Q2 Earnings Report Preview: What To Look For
Cybersecurity software maker Tenable (NASDAQ:TENB) will be reporting results tomorrow after market close. Here's what investors should know.
Tenable beat analysts' revenue expectations by 1.2% last quarter, reporting revenues of $216 million, up 14.4% year on year. It was a mixed quarter for the company: Tenable exceeded analysts' billings expectations. Its revenue narrowly outperformed Wall Street's estimates. Moving on, full year revenue and operating profit guidance both came in above expectations. On the other hand, its revenue guidance for next quarter missed analysts' expectations.
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 12.1% year on year to $218.5 million, slowing from the 18.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.24 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Tenable has a history of exceeding Wall Street's expectations, beating revenue estimates every single time over the past two years by 1.8% on average.
Looking at Tenable's peers in the cybersecurity segment, only Varonis has reported results so far. It beat analysts' revenue estimates by 4.4%, delivering year-on-year sales growth of 12.9%.
Read our full analysis of Varonis's earnings results here.
There has been positive sentiment among investors in the cybersecurity segment, with share prices up 2.6% on average over the last month. Tenable's stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $56.8 (compared to the current share price of $43.14).
Unless you’ve been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefitting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story.
