10 Cheap Stocks with Huge Upside Potential

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

Potential Upside: 55.9%

Forward P/E: 12.82

Number of Hedge Fund Holders: 32

On January 20, Truist Securities significantly lowered its target price on Tenable Holdings, Inc. (NASDAQ:TENB) stock from $42 to $27, suggesting a mere 20% upside from here on. On the other hand, according to a report released on January 13, UBS analyst Roger Boyd reiterated his Buy rating and set a price target of $43 for the stock. His price target implies an almost 100% upside from the current levels. This upside is in line with the highest Wall Street analyst upside of 100.45% among 25 analysts covering the stock.

In another bearish development on January 8, financial services firm Needham lowered its price target for the shares from $38 to $28 while maintaining a Buy rating. According to the analyst, the company’s transition from multi-year contracts to annual upfront billing is resulting in a wider divergence between current Remaining Performance Obligations (cRPO) growth and calculated current billings (CCB) growth. This transition started in the first quarter of 2025.

The firm said that this change in billing structure is likely to introduce short-term volatility in the company’s financial metrics. Additionally, Needham noted that this volatility could persist unless management offers clearer medium-term financial targets or provides additional disclosure around the Tenable One platform.

Tenable Holdings, Inc. (NASDAQ:TENB) provides cyber exposure management solutions across the Middle East, Japan, Europe, the Americas, Africa, and the Asia Pacific. The company’s platforms include Tenable Cloud Security,  Tenable Vulnerability Management, Tenable Identity Exposure, Tenable Web App Scanning,  and Tenable Lumin Exposure View.