Tufin Software Technologies (NYSE:TUFN) Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Tufin Software Technologies (NYSE:TUFN) from a buy rating to a hold rating in a report released on Wednesday morning, 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. “

A number of other research analysts have also recently commented on the stock. Cowen restated a hold rating and issued a $14.00 price target on shares of Tufin Software Technologies in a report on Monday, August 16th. Barclays cut their price target on shares of Tufin Software Technologies from $14.00 to $12.00 and set an equal weight rating on the stock in a report on Wednesday. Finally, Colliers Securities restated a buy rating and issued a $15.00 price target on shares of Tufin Software Technologies in a report on Tuesday, September 7th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $12.50.

TUFN stock opened at $9.81 on Wednesday. Tufin Software Technologies has a twelve month low of $6.34 and a twelve month high of $20.11. The stock has a market capitalization of $360.71 million, a price-to-earnings ratio of -10.90 and a beta of 1.58. The firm’s fifty day simple moving average is $10.53 and its two-hundred day simple moving average is $9.90.

Tufin Software Technologies (NYSE:TUFN) last posted its quarterly earnings data on Wednesday, August 11th. The company reported ($0.32) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.40) by $0.08. The business had revenue of $25.74 million for the quarter, compared to analysts’ expectations of $23.09 million. Tufin Software Technologies had a negative net margin of 31.84% and a negative return on equity of 47.30%. Equities research analysts forecast that Tufin Software Technologies will post -1.14 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of the business. Lazard Asset Management LLC bought a new position in Tufin Software Technologies during the 1st quarter worth about $35,000. ShoreHaven Wealth Partners LLC bought a new position in Tufin Software Technologies during the 1st quarter worth about $83,000. Bank of New York Mellon Corp lifted its position in shares of Tufin Software Technologies by 37.1% during the second quarter. Bank of New York Mellon Corp now owns 38,356 shares of the company’s stock valued at $350,000 after buying an additional 10,376 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Tufin Software Technologies during the first quarter valued at about $109,000. Finally, Keebeck Alpha LP purchased a new stake in shares of Tufin Software Technologies during the second quarter valued at about $121,000. Institutional investors own 33.05% of the company’s stock.

About Tufin Software Technologies

Tufin Software Technologies Ltd. engages in the provision of policy-centric approach to security and IT operations. It transforms enterprise security operations by helping them visualize, define and enforce a security policy across complex, heterogeneous information technology and cloud environments.

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