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Tenable Holdings Inc. (NASDAQ:TENB) is one of the best cheap stocks that will skyrocket. On January 8, Needham reiterated a Buy rating on Tenable 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.
Tenable Holdings Inc. (NASDAQ:TENB) is a cybersecurity company that provides an Exposure Management platform, helping organizations discover, assess, and reduce cyber risk across their entire digital environment, from traditional IT to the cloud and operational technology (OT).
While we acknowledge the potential of TENB as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: Top 10 Materials Stocks to Buy According to Analysts and 10 Best Organic Food and Farming Stocks to Buy Now.
Disclosure: None. This article is originally published at Insider Monkey.
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