Tenable Holdings has favorable near-term set-up – UBS

UBS started coverage of Tenable Holdings, Inc. (NASDAQ:) at Buy with a $52 price target in a note to clients Thursday.

Analysts told investors that his firm sees a favorable near-term set-up for the company and “relatively conservative guidance.”

“Checks were most positive on TENB’s relative positioning in VM and pointed to prioritization and analytic capabilities as differentiators,” the analysts wrote in the note.

“TENB offers a solid growth+margin expansion opportunity and at 20.5x CY24 EV/uFCF looks undervalued for high teens growth and 20%+ uFCF margins.”

Despite UBS’ positive comments, TENB shares are down 1.4% at the time of writing, trading around the $42.25 per share mark.