Zacks Investment Research Downgrades Tufin Software Technologies (NYSE:TUFN) to Sell

Zacks Investment Research cut shares of Tufin Software Technologies (NYSE:TUFN) from a hold rating to a sell rating in a research report sent to investors on Tuesday, Zacks.com reports.

According to Zacks, “Tufin Software Technologies Ltd develops security software. It provides a security policy management platform which brings automation and analytics to security and network operations. Tufin Software Technologies Ltd is based in Ramat Gan, Israel. “

Separately, Barclays restated a buy rating and set a $34.00 target price on shares of Tufin Software Technologies in a research report on Thursday, July 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. Tufin Software Technologies currently has a consensus rating of Buy and a consensus price target of $29.57.

Shares of TUFN opened at $15.73 on Tuesday. The business’s 50-day simple moving average is $17.15. Tufin Software Technologies has a 12-month low of $15.15 and a 12-month high of $31.04.

Tufin Software Technologies (NYSE:TUFN) last announced its earnings results on Tuesday, September 3rd. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.06. The business had revenue of $25.10 million for the quarter, compared to analyst estimates of $23.99 million. The business’s quarterly revenue was up 35.7% compared to the same quarter last year. Equities analysts expect that Tufin Software Technologies will post -0.79 EPS for the current year.

Several large investors have recently bought and sold shares of the company. Optimus Prime Fund Management Co. Ltd. acquired a new position in shares of Tufin Software Technologies in the second quarter valued at approximately $26,000. Tower Research Capital LLC TRC acquired a new position in shares of Tufin Software Technologies in the second quarter valued at approximately $44,000. Wells Fargo & Company MN acquired a new position in shares of Tufin Software Technologies in the second quarter valued at approximately $176,000. BlackRock Inc. acquired a new position in shares of Tufin Software Technologies in the second quarter valued at approximately $180,000. Finally, Morgan Stanley acquired a new position in shares of Tufin Software Technologies in the second quarter valued at approximately $213,000. 26.15% of the stock is owned by institutional investors and hedge funds.

Tufin Software Technologies Company Profile

Tufin Ltd. provides security policy management solutions. It offers Orchestration Suite, a solution for automatically designing, provisioning, analyzing, and auditing network security changes from the application layer down to the network layer; SecureTrack, a management platform for firewalls, routers, load-balancers, and additional network devices; SecureChange, a solution for automating firewall and router configuration changes across complex networks; SecureApp, a solution that enables organizations to manage network connectivity and security policies; and Tufin Iris, a cloud-native solution that enables cloud operations and IT security teams to gain visibility and control of security policies for cloud-based applications.

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