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Stock impact report

Needham and Stifel Bullish on Tenable Holdings Inc. (TENB) Amid Billing Pattern Changes [Yahoo! Finance]

Tenable Holdings, Inc. (TENB) 
Last tenable holdings, inc. earnings: 4/28 04:05 pm Check Earnings Report
Company Research Source: Yahoo! Finance
Holdings Inc. (NASDAQ:TENB) but cut the price target to $28 from $38. The price target cut is in response to changes in the company's upfront billing patterns that began early last year. The research firm has consequently lowered its calculated current billings and unleveraged free cash flow estimates following the changes, as the company shifts from a multi-year to an annual billing basis. Nevertheless, the research firm maintains a Buy rating, expecting the company to experience accelerated CCB growth and improved uFCF margins in 2027. Earlier on December 16, Stifel reiterated a Hold rating on the stock and a $35 price target. The research firm's cautious outlook is in response to adjusting cash flow projections due to evolving billing practices. Customers prefer paying for multiyear deals annually, given the higher interest rates and larger deal sizes. Given the negative impact of the new billing practices, Tenable might place less emphasis on CCB metrics going forward. Tenab Show less Read more
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