Besides from Endava (DAVA), Pinduoduo (PDD) and Cango (CANG) that went public on July 26th, 2018, Tenable also made up for another prominent company going public that day.
Founded 16 years before it went public, this Maryland-based network security company started their business in 2002, but have went public only in 2018 with the rise of tech company IPOs.
The company managed to raise 300 million dollars from venture capitals before going public, which placed the estimates for tenable IPO at 2.09 billion dollars, later on collecting 250 million dollars during their initial sale.
Investing in Tenable (TENB): How Profitable is Tenable in the Long Run?
With the latest report at the beginning of Q2 of 2019, Tenable shares were marked as “buy” by market watchers and professionals familiar with the matter and the submitted financial reports.
Tenable opened at 33$ per share back in July when the company went public, surging by over 40% in the first trading session, but dropping back down towards the closing and ending the first session at the value of 30$, under the starting price.
At the beginning of Q2, Tenable is trading above the value that opened the first trade, additionally following an upwards trend.
The company also published a financial report for the last quarter of 2018, stating that the revenue for the given period is set at 75.2 million dollars, which means that the company recorded 39% of growth in revenues year to year, while the full year growth was set at 42% for 2018.
Tenable also stated in their report for the fiscal year of 2018 that they expect to see a revenue ranging from 338 million dollars to 343 million dollars by the end of 2019, expecting favorable increases in the upcoming period.
In the meanwhile, the company’s shares are following an upward trend, while it is said that around 27,000 organizations are relying on Tenable for cyber exposure and security by far.
