Why Tenable Holdings Shares Jumped 24% on Thursday Morning

Shares of Tenable Holdings (NASDAQ: TENB) rose as much as 23.6% Wednesday morning as investors absorbed a fantastic third-quarter report. The online security specialist's stock settled down to a slightly milder 18% gain at 1:45 p.m. EDT.

Tenable's revenues grew 32% year over year, landing at $91.9 million. Adjusted net losses of $0.07 per share were about half the size of the year-ago period's loss of $0.14 per share. Your average Wall Street analyst would have settled for a $0.11 loss per share on sales near $88.7 million, so Tenable exceeded analyst expectations across the board.

Looking ahead, Tenable's management expects fourth-quarter revenues in the neighborhood of $94 million and adjusted net losses of $0.12 per share. That's just ahead of Wall Street's current projections in both cases.

Source Fool.com