Stifel Maintains Hold Stance Following Tenable Holdings, Inc. (TENB) Billing Changes

Tenable Holdings, Inc. (NASDAQ:TENB) is one of the best beaten-down technology stocks to buy according to hedge funds. On December 16, Stifel reiterated a Hold rating and a $35 price target on Tenable Holdings Inc. (NASDAQ:TENB).

Stifel Maintains Hold Stance Following Tenable Holdings, Inc. (TENB) Billing Changes

The cautious outlook comes on the research firm adjusting its cash flow projections due to the company changing its billing practices. The research firm has lowered its cash flow from operations and free cash flow expectations for Tenable Holdings, based on the third quarter 2025 earnings and statements.

The adjustments follow the company’s move to shift to annual billing from multi-year deals. Initially, it collected upfront payments but was forced to change because customers preferred paying for multiyear deals annually, given the higher interest rate environment. The changes have impacted the company’s Calculated Current Billings and cash flow, but not its Remaining Performance Obligations (RPO).

Meanwhile, on November 11, Tenable entered into a OneGov agreement with the US General Services Administration to provide its FedRAMP-authorized Cloud Security solution to federal agencies. The company is offering the solution at a discount through March 31, 2027, allowing government agencies to access its Cloud Native Application Protection Platform, which provides visibility across cloud infrastructure, identities, and workloads.

Tenable Holdings, Inc. (NASDAQ:TENB) is a cybersecurity company that provides exposure management solutions, helping organizations find, prioritize, and fix vulnerabilities across their IT, cloud, and operational technology (OT) environments using its AI-powered Tenable One platform.

While we acknowledge the potential of TENB to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than TENB and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.