Why Tenable Holdings Rallied on Monday

Tenable Holdings stock rallied 6.97% on Monday after Scotiabank analysts nearly doubled their price target from $26 to $50, upgrading the cybersecurity stock alongside peers. The analysts believe powerful AI models will increase cyber threats, forcing companies to boost cybersecurity spending beyond Gartner's predicted 14.5% growth. Tenable, named by Gartner as 'the company to beat' for AI-powered vulnerability assessment, trades at a reasonable 20x forward P/E despite its 100%+ rally since April.