Tenable shares drop 2% after Piper Sandler lowers its price target and downgrades the stock amid weaker post-Mythos trends.
Tenable (TENB) shares declined 2% following Piper Sandler’s downgrade to Neutral from Overweight. The firm also slashed its price target to $30 from $35.
The downgrade reflects disappointment in underlying trends after the Mythos event, which failed to meet expectations. Prior to the cut, the stock had been rated Overweight with a higher target.
The immediate market reaction saw TENB dip modestly in early trading.