Analysts Anticipate Tufin Software Technologies Ltd. (NYSE:TUFN) Will Announce Quarterly Sales of $22.78 Million

Analysts expect that Tufin Software Technologies Ltd. (NYSE:TUFN) will post $22.78 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Tufin Software Technologies’ earnings, with the highest sales estimate coming in at $23.00 million and the lowest estimate coming in at $22.50 million. Tufin Software Technologies reported sales of $21.24 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 7.3%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, May 11th.

On average, analysts expect that Tufin Software Technologies will report full-year sales of $109.41 million for the current financial year, with estimates ranging from $108.90 million to $110.04 million. For the next fiscal year, analysts expect that the company will post sales of $123.28 million, with estimates ranging from $118.00 million to $130.34 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Tufin Software Technologies.

Tufin Software Technologies (NYSE:TUFN) last announced its quarterly earnings data on Thursday, February 11th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.05. The business had revenue of $31.00 million for the quarter, compared to analyst estimates of $29.78 million. Tufin Software Technologies had a negative net margin of 38.14% and a negative return on equity of 44.38%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.07) earnings per share.

TUFN has been the topic of several research reports. Piper Sandler boosted their price target on shares of Tufin Software Technologies from $9.00 to $12.00 and gave the company a “neutral” rating in a research report on Tuesday, January 5th. Zacks Investment Research lowered shares of Tufin Software Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, November 18th. Barclays reissued a “hold” rating and issued a $18.00 price target on shares of Tufin Software Technologies in a research report on Sunday, February 14th. Finally, Oppenheimer reissued a “buy” rating and issued a $15.00 price target on shares of Tufin Software Technologies in a research report on Tuesday, December 15th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $12.13.

TUFN stock traded down $0.22 during mid-day trading on Tuesday, hitting $11.91. The company had a trading volume of 437,213 shares, compared to its average volume of 538,237. The firm has a market cap of $386.31 million, a PE ratio of -11.23 and a beta of 1.94. Tufin Software Technologies has a 12 month low of $5.79 and a 12 month high of $20.11. The stock’s fifty day moving average price is $16.00 and its two-hundred day moving average price is $10.79.

A number of large investors have recently modified their holdings of the stock. California Public Employees Retirement System grew its stake in Tufin Software Technologies by 4.3% during the third quarter. California Public Employees Retirement System now owns 46,400 shares of the company’s stock valued at $383,000 after acquiring an additional 1,900 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Tufin Software Technologies by 5.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,661 shares of the company’s stock valued at $470,000 after acquiring an additional 1,905 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in Tufin Software Technologies by 36.2% during the third quarter. BNP Paribas Arbitrage SA now owns 17,378 shares of the company’s stock valued at $143,000 after acquiring an additional 4,619 shares in the last quarter. Artemis Investment Management LLP grew its stake in Tufin Software Technologies by 1.2% during the fourth quarter. Artemis Investment Management LLP now owns 411,514 shares of the company’s stock valued at $5,134,000 after acquiring an additional 4,860 shares in the last quarter. Finally, Walleye Trading LLC grew its stake in Tufin Software Technologies by 57.2% during the fourth quarter. Walleye Trading LLC now owns 17,541 shares of the company’s stock valued at $219,000 after acquiring an additional 6,385 shares in the last quarter. 40.37% of the stock is owned by institutional investors.

About Tufin Software Technologies

Tufin Software Technologies Ltd., together with its subsidiaries, develops, markets, and sells software-based solutions primarily in the United States, Israel, Europe, the Middle East, and Africa, Germany, Asia Pacific, and internationally. The company provides SecureTrack, which enables security administrators to define and manage a centralized security policy, minimize the attack surface, and ensure continuous compliance across the network; SecureChange that is used to assess, provision, and verify security configuration changes across physical networks and cloud platforms, while maintaining security and compliance; and SecureApp, which is used to define, manage, and monitor network connectivity for their applications.

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