What To Expect From Tenable's (TENB) Q1 Earnings

Petr Huřťák /
2024/04/30 3:08 am EDT

Cybersecurity software maker Tenable (NASDAQ:TENB) will be reporting earnings tomorrow after the bell. Here's what to expect.

Tenable beat analysts' revenue expectations by 3.2% last quarter, reporting revenues of $213.3 million, up 15.5% year on year. It was a slower quarter for the company, with full-year revenue guidance missing analysts' expectations and management forecasting growth to slow.

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 13% year on year to $213.4 million, slowing from the 18.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.17 per share.

Tenable Total Revenue

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 2.2% on average.

With Tenable being the first among its peers to report earnings this season, we don't have anywhere else to look to get a hint at how this quarter will unravel for cybersecurity stocks. However, the whole sector has been hit hard over the last month as stocks in Tenable's peer group are down 3.5% on average. Tenable is down 9.8% during the same time and is heading into earnings with an average analyst price target of $58.1 (compared to the current share price of $44.51).

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