Tufin Software Technologies (NYSE:TUFN) Upgraded to “Hold” at Zacks Investment Research

Tufin Software Technologies (NYSE:TUFN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued 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. “

TUFN has been the subject of a number of other reports. Jefferies Financial Group began coverage on Tufin Software Technologies in a research report on Monday, May 6th. They set a “buy” rating and a $28.00 price objective for the company. Stifel Nicolaus began coverage on Tufin Software Technologies in a research report on Monday, May 6th. They set a “hold” rating and a $24.00 price objective for the company. Oppenheimer began coverage on Tufin Software Technologies in a research report on Monday, May 6th. They set an “outperform” rating and a $35.00 price objective for the company. CIBC began coverage on Tufin Software Technologies in a research report on Monday, May 6th. They set an “outperform” rating and a $35.00 price objective for the company. Finally, Barclays restated a “buy” rating and set a $34.00 price objective on shares of Tufin Software Technologies in a research report on Thursday, July 18th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $29.57.

Shares of NYSE:TUFN traded down $0.47 during midday trading on Tuesday, reaching $19.19. The company had a trading volume of 10,938 shares, compared to its average volume of 337,035. Tufin Software Technologies has a 1-year low of $18.05 and a 1-year high of $31.04. The company has a fifty day simple moving average of $25.44.

Tufin Software Technologies (NYSE:TUFN) last released its quarterly earnings results on Thursday, June 13th. The company reported ($0.41) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.48) by $0.07. The company had revenue of $22.50 million during the quarter, compared to analyst estimates of $21.04 million. The company’s revenue for the quarter was up 25.7% on a year-over-year basis. On average, analysts anticipate that Tufin Software Technologies will post -0.71 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of TUFN. TimesSquare Capital Management LLC bought a new position in Tufin Software Technologies in the 2nd quarter worth approximately $27,764,000. Kornitzer Capital Management Inc. KS bought a new position in Tufin Software Technologies in the 2nd quarter worth approximately $5,632,000. Finally, Ion Asset Management Ltd. bought a new position in Tufin Software Technologies in the 2nd quarter worth approximately $2,589,000. 0.52% of the stock is currently owned by institutional investors.

About Tufin Software Technologies

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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Analyst Recommendations for Tufin Software Technologies (NYSE:TUFN)

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