The Ratings Game
Tenable Holdings’ stock heads for its worst day on record as core financial customers hold off on deals
A banking crisis that began when Silicon Valley Bank collapsed last month “was highlighted as the primary culprit for deal slippage” by software company Tenable Holdings Inc. on Monday, which sent its own and other software stocks south on Tuesday.
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The failures of Silicon Valley Bank and Signature Bank shook the banking sector last month, and now the reverberations are rippling through software stocks.
Tenable Holdings Ltd. TENB shares were headed for their worst day ever Tuesday after the cybersecurity company cut its guidance in an earnings report delivered after markets closed on Monday — and they were taking other security and software stocks down with them. Analysts put the blame on a slowdown in spending by companies in the banking and finance sectors, a core customer…
