Core Insights - Tenable Holdings, Inc. has been recognized as one of only two vendors awarded the 2025 Customers' Choice in the Gartner Peer Insights™ 'Voice of the Customer': Cloud-Native Application Protection Platforms (CNAPPs) based on end-user reviews, achieving a 4.8 out of 5 overall rating and an 88% willingness to recommend from 71 reviews as of October 2025 [1][2] Company Overview - Tenable is a leader in Exposure Management, emphasizing cloud security as a critical component, and offers the Tenable One platform which unifies visibility, insight, and action across various domains including cloud, AI, IT, identity, and operational technology [2][9] - The company serves approximately 44,000 customers globally, focusing on closing cybersecurity gaps that can impact business value, reputation, and trust [9] Customer Feedback - Customer reviews highlight Tenable's CNAPP and Cloud Security solutions for providing deep visibility across cloud environments and seamless integration into existing workflows, significantly improving vulnerability and compliance management [8] - Users appreciate the intuitive interface and straightforward setup of Tenable's solutions, noting that the platform enhances remediation efforts through focused insights [8] Industry Recognition - The Gartner Peer Insights Customers' Choice distinction is awarded to vendors that meet or exceed market averages in Overall Experience and User Interest and Adoption, indicating strong customer satisfaction and advocacy [3][6]

Group 1 - Tenable Holdings Inc. is considered one of the best NASDAQ stocks to buy in 2026, despite recent price target reductions by Morgan Stanley and Jefferies [1][2] - Morgan Stanley lowered its price target on Tenable to $30 from $32, while Jefferies reduced its target to $29 from $31, both maintaining a neutral rating on the shares [1][2] - Cybersecurity stocks have shown varied performance, with platform-based companies rising by an average of 30%, while the rest of the sector saw a 12% decline [1] Group 2 - Tenable announced a significant OneGov agreement with the US General Services Administration, providing its Cloud Security solution to federal agencies, including the Department of Defense [3] - The partnership offers specialized pricing and discounts through March 31, 2027, and supports the federal government's cloud-first policy and the White House's AI Action Plan [3] - The cybersecurity software sector is expected to remain durable through 2026, supported by solid financial fundamentals, but may underperform compared to a broader software market rebound driven by AI breakthroughs [2]

Core Viewpoint - Tenable Holdings, Inc. (NASDAQ:TENB) is considered one of the best beaten-down technology stocks to buy according to hedge funds, with Stifel maintaining a Hold rating and a $35 price target [1]. Group 1: Financial Adjustments - Stifel has adjusted its cash flow projections for Tenable Holdings due to changes in the company's billing practices, leading to lowered expectations for cash flow from operations and free cash flow [2]. - The adjustments are a result of Tenable shifting from multi-year billing to annual billing, which was influenced by customer preferences in a higher interest rate environment [3]. Group 2: Business Developments - Tenable entered into a OneGov agreement with the US General Services Administration to provide its FedRAMP-authorized Cloud Security solution to federal agencies, offering the solution at a discount until March 31, 2027 [4]. - The company specializes in exposure management solutions, helping organizations identify, prioritize, and remediate vulnerabilities across IT, cloud, and operational technology environments using its AI-powered Tenable One platform [5].

Core Insights - The interview features Steve Vintz, Co-CEO of Tenable Inc., and Dr. Dustin Ormond discussing the implications of AI in business and the associated security challenges [1] Group 1: AI and Security Risks - Dr. Ormond highlighted that AI can exploit vulnerabilities in organizations, as it allows users to perform complex tasks without sophisticated skills, potentially compromising security [2] - The risk arises when employees input sensitive company information into AI systems without understanding the security implications [2] Group 2: Cybersecurity Challenges - Steve Vintz pointed out that the complexity of modern IT infrastructure, including traditional IT, cloud environments, and IoT, makes cybersecurity a fragmented challenge [3] - He noted that 96% of cybersecurity investment is focused on reactive measures, which has contributed to $10 trillion in cyber losses this year [3] - Vintz advocates for a shift towards proactive exposure management to identify critical vulnerabilities rather than just responding to breaches [3] Group 3: Human Factor in Cybersecurity - Both experts agreed that despite advanced cybersecurity tools, human behavior remains the weakest link, making training on AI usage essential for employees [3]

Core Insights - Tenable has appointed Vlad Korsunsky as Chief Technology Officer and Managing Director of Tenable Israel, marking a significant milestone in the company's strategy to enhance its exposure management vision [1][2] - Korsunsky brings over 25 years of leadership experience in software engineering and cybersecurity, having previously served as Corporate Vice President of Cloud and Enterprise Security at Microsoft [2][3] - The appointment is aimed at accelerating Tenable's platform leadership and advancing its AI strategy in response to rising demand for AI risk management [3] Company Overview - Tenable is recognized as a leader in exposure management, focusing on closing cybersecurity gaps that can undermine business value, reputation, and trust [4] - The company's AI-powered exposure management platform integrates security visibility, insight, and action across various attack surfaces, helping organizations protect against a wide range of cyber threats [4] - Tenable serves approximately 44,000 customers globally, reducing business risk through its comprehensive security solutions [4]

Core Insights - Tenable has entered into a OneGov agreement with the U.S. General Services Administration (GSA) to provide its FedRAMP-authorized Cloud Security solution to federal agencies, including the Department of Defense, at a discounted rate until March 31, 2027 [1][2] - The partnership aims to support the federal government's cloud-first policy by facilitating secure cloud adoption and enhancing the resilience of mission-critical systems [2][3] - Tenable's cloud security solution is designed to help federal agencies protect sensitive data and modernize their cloud infrastructure, addressing the unique needs of the public sector [3][4] Company Overview - Tenable is recognized as an exposure management company that focuses on identifying and closing cybersecurity gaps that can undermine business value and trust [6] - The company serves approximately 44,000 customers globally, providing a unified security visibility and action platform that spans various environments, including IT infrastructure and cloud [6] GSA Overview - The GSA is responsible for centralized procurement and shared services for the federal government, managing a real estate portfolio of over 360 million rentable square feet and overseeing more than $110 billion in federal contracts [5] - The GSA's mission is to deliver optimal customer experience and value in real estate, acquisition, and technology services to the government and the American public [5]

Core Viewpoint - The Barclays Tech Conference features a discussion with Tenable's leadership team, highlighting the company's focus on software and cybersecurity solutions [1][2]. Group 1 - The conference is hosted by Saket Kalia from Barclays Bank, who specializes in software research [1]. - Tenable's leadership team includes Co-CEO Steve Vintz and new CFO Matt Brown, indicating a strong executive presence [1]. - The format of the session includes a fireside chat followed by an interactive Q&A, promoting engagement with the audience [2].

Summary of Tenable's Conference Call Company Overview - **Company**: Tenable - **Industry**: Cybersecurity, specifically focusing on exposure management and vulnerability management Key Points Financial Performance - **Q3 Results**: Exceeded expectations on both revenue and earnings, with an 11% revenue growth [11][5] - **Operating Margin**: Increased by 350 basis points year-over-year despite an 18% increase in R&D spending [13] - **Outlook**: Strong guidance for the full year, indicating positive momentum [11] Product and Market Insights - **Exposure Management Platform**: Significant traction with over 300 new customers added, indicating strong demand for the platform [6][5] - **Average Selling Prices (ASPs)**: Notably higher ASPs for exposure management solutions, reflecting increased customer value [7] - **AI Integration**: Launched AI Exposure to identify vulnerabilities in AI applications, enhancing the platform's capabilities [8] Market Position and Strategy - **Category Creation**: Tenable has established exposure management as a distinct category, gaining recognition from industry analysts [16] - **Market Opportunity**: Gartner identifies exposure management as a major opportunity in cybersecurity, with a shift from reactive to proactive security [17][18] - **Customer Insights**: Organizations face challenges managing data from over 80 different security vendors, creating a need for unified risk management [15] Product Adoption and Growth - **Tenable One**: Represents about one-third of the enterprise business, with expectations for significant growth [22][26] - **Customer Retention**: Higher retention rates for Tenable One compared to other products, indicating stickiness and customer satisfaction [46][40] - **Future Growth**: Anticipated that Tenable One will account for over 60% of new sales in the future [26] Challenges and Considerations - **Public Sector Dynamics**: While Tenable has a strong presence in the U.S. public sector, recent leadership changes and market conditions have made new business transactions more challenging [55] - **Billing Practices**: Shift towards annual billing for multi-year agreements is distorting current metrics, necessitating a reevaluation of how to measure growth [37][38] Future Outlook - **Continued Investment**: Commitment to R&D and potential acquisitions to enhance product offerings and market position [58][59] - **Proactive Security Shift**: The market is moving towards proactive security measures, with expectations that spending on proactive solutions will increase significantly over the next 5-10 years [28] Analyst Recognition - **Industry Validation**: Tenable has been recognized as a leader in exposure management by multiple industry analysts, reinforcing its market position [16][60] Additional Insights - **Vulnerability Landscape**: There are currently 300,000 unique vulnerabilities identified, with over 500 billion instances, highlighting the scale of the cybersecurity challenge [19] - **AI Threats**: The rise of AI is leading to more vulnerabilities and necessitating a shift in security strategies [20] This summary encapsulates the key insights and strategic direction of Tenable as discussed in the conference call, highlighting both opportunities and challenges in the cybersecurity landscape.

Core Insights - Artificial intelligence (AI) is identified as the greatest investment opportunity of the current era, with a strong emphasis on the urgent need for energy to support its growth [1][2][3] AI and Energy Demand - AI technologies, particularly large language models like ChatGPT, are extremely energy-intensive, with data centers consuming as much energy as small cities [2] - The increasing demand for AI is straining global power grids, leading to rising electricity prices and a need for utilities to expand capacity [2] Investment Opportunity - A specific company, largely overlooked by AI investors, is positioned to benefit from the anticipated surge in energy demand due to AI [3][6] - This company owns critical energy infrastructure assets and is involved in the U.S. LNG exportation sector, which is expected to grow under the current administration's energy policies [7][8] Financial Position - The company is noted for being debt-free and holding a significant cash reserve, amounting to nearly one-third of its market capitalization [8] - It also has a substantial equity stake in another AI-related company, providing investors with indirect exposure to multiple growth opportunities without high premiums [9] Market Perception - Wall Street is beginning to recognize this company as a valuable investment, especially as it operates without the high valuations typical of many energy and utility firms [8][10] - The company is trading at less than 7 times earnings, making it an attractive option for investors looking for undervalued stocks in the AI and energy sectors [10] Future Outlook - The ongoing AI revolution is expected to disrupt traditional industries, with companies that adapt to AI technologies likely to thrive [11][12] - The influx of talent into the AI sector is anticipated to drive continuous innovation and advancements, reinforcing the importance of investing in AI [12][13] Strategic Context - The company is strategically positioned to capitalize on the AI infrastructure supercycle, the onshoring boom due to tariffs, and the surge in U.S. LNG exports [14]

Core Insights - The article emphasizes the importance of enabling Javascript and cookies in browsers to prevent access issues [1] Group 1 - The article suggests that users may face blocks if ad-blockers are enabled, indicating a need to disable them for proper access [1]