11 Best Cybersecurity Stocks to Buy According to Wall Street Analysts

7. Tenable Holdings, Inc. (NASDAQ:TENB)

Average Analyst Upside: 15.12%

Number of Hedge Fund Holders: 29

Tenable Holdings, Inc. (NASDAQ:TENB) provides cyber exposure and vulnerability management solutions, helping organizations secure IT, cloud, and operational environments globally. Its key offerings include Tenable Vulnerability Management, Tenable Cloud Security, and the widely used Nessus platform.

Earlier this September, Tenable Holdings, Inc. (NASDAQ:TENB) launched Tenable Enclave Security, designed specifically for highly secure, classified, or air-gapped environments. Integrated with Tenable Security Center, the solution delivers risk assessments and contextual insights, enabling proactive identification and mitigation of exposures. That same month, the company introduced AI Aware, an advanced feature in Tenable Vulnerability Management that detects vulnerabilities in AI applications, libraries, and plugins.

For Q3, 2024, Tenable Holdings, Inc. (NASDAQ:TENB) reported results surpassing analyst expectations. Revenue increased 13% year-over-year, driven by the success of Tenable One, a platform powered by Cloud Security and Identity services. Strong growth was also observed in the Public Sector and mid-market segments. While the company faced market challenges, including longer sales cycles and heightened deal scrutiny, it showcased resilience with an impressive pipeline build and raised guidance for future performance.