Reported Earnings • Aug 18
Second quarter 2022 earnings released: US$0.40 loss per share (vs US$0.32 loss in 2Q 2021) Second quarter 2022 results: US$0.40 loss per share (down from US$0.32 loss in 2Q 2021). Revenue: US$29.5m (up 15% from 2Q 2021). Net loss: US$15.6m (loss widened 31% from 2Q 2021). Over the next year, revenue is forecast to grow 10%, compared to a 16% growth forecast for the Software industry in the US. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 12% per year, which means it is performing significantly worse than earnings. Recent Insider Transactions Derivative • Aug 05
CEO, Co-Founder & Chairman of the Board notifies of intention to sell stock Reuven Kitov intends to sell 7k shares in the next 90 days after lodging an Intent To Sell Form on the 29th of July. If the sale is conducted around the recent share price of US$12.49, it would amount to US$83k. For the year to December 2020, Reuven's total compensation was 23% salary and 77% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2022, Reuven's direct individual holding has increased from 1.95m shares to 1.97m. There have been no trades via on-market transactions or options from company insiders in the last 12 months. Board Change • Aug 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 4 highly experienced directors. Independent Director Brian Gumbel was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Recent Insider Transactions Derivative • Jul 22
CEO, Co-Founder & Chairman of the Board notifies of intention to sell stock Reuven Kitov intends to sell 9k shares in the next 90 days after lodging an Intent To Sell Form on the 15th of July. If the sale is conducted around the recent share price of US$12.57, it would amount to US$111k. For the year to December 2020, Reuven's total compensation was 23% salary and 77% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2022, Reuven's direct individual holding has increased from 1.95m shares to 1.97m. There have been no trades via on-market transactions or options from company insiders in the last 12 months. Recent Insider Transactions Derivative • Jul 02
Chief Financial Officer notifies of intention to sell stock Jack Wakileh intends to sell 50k shares in the next 90 days after lodging an Intent To Sell Form on the 27th of June. If the sale is conducted around the recent share price of US$12.60, it would amount to US$630k. As of today, Jack currently holds no shares directly (This sale likely refers to shares that have not yet been received). There have been no trades via on-market transactions or options from company insiders in the last 12 months. Board Change • Jul 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 4 highly experienced directors. Independent Director Brian Gumbel was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Jun 03
Tufin Software Technologies Ltd. Expands Security Policy Automation Capabilities for Hybrid Cloud Environments Tufin Software Technologies Ltd. announced the release of Tufin Orchestration Suite R22-1, enabling users to increase their security posture by gaining visibility and control of Azure Firewall policies. The release also features new capabilities that reduce risk and increase security and compliance across the hybrid environment. Some of the key enhancements in this new release include the following: Azure Firewall integration to expand holistic security policy management across hybrid and multi-cloud environments. Many Azure Firewall policy changes are not documented, there are multiple views of security policies in the hybrid enterprise, and there is no unified view of the hybrid network topology. As a result, it is difficult to detect misconfigurations and risky changes, or to troubleshoot network connectivity. Tufin’s enhanced support for Azure Firewall addresses these challenges by expanding visibility into and control over the Azure environment while tracking all changes. Additionally, organizations can leverage network modeling to test changes and network connectivity, reducing the time and resources required for troubleshooting. Improved change automation for Check Point® Inline Layers and Palo Alto Networks® Panorama™. With R22-1, Tufin now simplifies and accelerates Check Point Inline Layer policy management, and delivers more flexible Panorama change automation, which enables faster troubleshooting and deployment of applications with non-default ports. More comprehensive automation across next-generation firewalls minimizes missed SLAs and the risk of human error for firewall administrators. These multi-vendor enhancements improve the ability of organizations to take a holistic approach to network security automation and help to bridge process and visibility gaps between network security and cloud security teams. CI/CD integration for continuous compliance in the public cloud: Tufin allows DevSecOps teams to stay continuously compliant by comparing their Terraform changes against the organizational Cloud Security Policy. This allows network security and cloud security teams to define clear guardrails that are checked for every change made by developers in CI/CD pipelines before these changes are promoted and pushed to production. The latest version of the product was unveiled this week at Tufinnovate, the company’s annual global user conference. Now in its sixth year, the conference brings together Tufin experts, customers, partners, and industry thought leaders for a two-day interactive event. Recent Insider Transactions Derivative • May 19
CTO, Co-Founder & Director notifies of intention to sell stock Reuven Harrison intends to sell 100k shares in the next 90 days after lodging an Intent To Sell Form on the 13th of May. If the sale is conducted around the recent share price of US$12.57, it would amount to US$1.3m. Since March 2022, Reuven's direct individual holding has decreased from 1.74m shares to 1.67m. There have been no trades via on-market transactions or options from company insiders in the last 12 months. Reported Earnings • May 13
First quarter 2022 earnings: EPS in line with analyst expectations despite revenue beat First quarter 2022 results: US$0.41 loss per share (down from US$0.32 loss in 1Q 2021). Revenue: US$26.1m (up 22% from 1Q 2021). Net loss: US$15.5m (loss widened 34% from 1Q 2021). Revenue exceeded analyst estimates by 4.7%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to grow 11%, compared to a 32% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Announcement • Apr 08
Turn/River Management, L.P. entered into a definitive agreement to acquire Tufin Software Technologies Ltd. (NYSE:TUFN) for approximately $530 million. Turn/River Management, L.P. entered into a definitive agreement to acquire Tufin Software Technologies Ltd. (NYSE:TUFN) for approximately $530 million on April 5, 2022. As per the transaction, Turn/River Management, L.P. will pay $13 per share to the shareholders of Tufin Software Technologies Ltd. In case the transaction is terminated by Turn/River Management, L.P. then Turn/River Management, L.P. will pay $34.4 million as a termination fee to Tufin Software Technologies Ltd. and in case the transaction is terminated by Tufin Software Technologies Ltd. then Tufin Software Technologies Ltd. will pay $17.2 termination fee to Turn/River Management, L.P. Turn/River Management, L.P. has secured committed financing, consisting of a combination of equity financing to be provided on the terms and subject to the conditions set forth in equity commitment letters provided by such funds and debt financing to be provided by certain lenders. The transaction is approved by board of directors of Tufin Software Technologies Ltd. and Turn/River Management, L.P. and is subject to approval by regulatory authorities, approval by shareholders of Tufin Software Technologies Ltd. and approval by antitrust authorities and is expected to close during the second quarter of 2022.
Sean Kramer, P.C., Edward J. Lee, P.C. and Chelsea Darnell of Kirkland & Ellis LLP acted as legal advisor to Turn/River Management, L.P. Morton Pierce, Morgan Hollins, Colin Diamond, Rebecca Farrington, Sang Ji, Laura McDaniels, Samantha Rozell, Arlene Arin Hahn and Cristina Brayton-Lewis of White & Case LLP, Shachar Hadar and Ran Camchy of Meitar Liquornik Geva Leshem Tal & Co acted as legal advisors and J.P. Morgan Securities LLC acted as financial advisor and fairness opinion provider to Tufin Software Technologies Ltd. Announcement • Apr 07
Tufin Software Technologies Ltd. to Report Q1, 2022 Results on May 13, 2022 Tufin Software Technologies Ltd. announced that they will report Q1, 2022 results on May 13, 2022 Reported Earnings • Feb 12
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: US$0.99 loss per share (down from US$0.99 loss in FY 2020). Revenue: US$110.9m (up 10.0% from FY 2020). Net loss: US$36.9m (loss widened 4.3% from FY 2020). Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to grow 13%, compared to a 234% growth forecast for the industry in the US. Announcement • Feb 11
Tufin Provides Earnings Guidance for the First Quarter and Full Year of 2022 Tufin provided earnings guidance for the first quarter and full year of 2022. For the quarter, the company expects total revenue to be between $23.0 million to $27.0 million. For the full year, the company expects total revenue to be between $123.0 million to $129.0 million. Announcement • Jan 28
Tufin Software Technologies Ltd. to Report Q4, 2021 Results on Feb 10, 2022 Tufin Software Technologies Ltd. announced that they will report Q4, 2021 results Pre-Market on Feb 10, 2022 Recent Insider Transactions Derivative • Jan 09
CTO, Co-Founder & Director notifies of intention to sell stock Reuven Harrison intends to sell 50k shares in the next 90 days after lodging an Intent To Sell Form on the 4th of January. If the sale is conducted around the recent share price of US$10.31, it would amount to US$516k. Since March 2021, Reuven has owned 1.84m shares directly. There have been no trades via on-market transactions or options from company insiders in the last 12 months. Recent Insider Transactions Derivative • Dec 23
CTO, Co-Founder & Director notifies of intention to sell stock Reuven Harrison intends to sell 10k shares in the next 90 days after lodging an Intent To Sell Form on the 17th of December. If the sale is conducted around the recent share price of US$8.89, it would amount to US$89k. Since March 2021, Reuven has owned 1.84m shares directly. There have been no trades via on-market transactions or options from company insiders in the last 12 months. Reported Earnings • Nov 11
Third quarter 2021 earnings released: US$0.25 loss per share (vs US$0.14 loss in 3Q 2020) The company reported a soft third quarter result with increased losses and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: US$28.0m (up 9.4% from 3Q 2020). Net loss: US$9.44m (loss widened 83% from 3Q 2020). Recent Insider Transactions Derivative • Sep 21
CTO, Co-Founder & Director notifies of intention to sell stock Reuven Harrison intends to sell 50k shares in the next 90 days after lodging an Intent To Sell Form on the 16th of September. If the sale is conducted around the recent share price of US$10.94, it would amount to US$547k. Since March 2021, Reuven has owned 1.84m shares directly. There have been no trades via on-market transactions or options from company insiders in the last 12 months. Recent Insider Transactions Derivative • Aug 20
CTO, Co-Founder & Director notifies of intention to sell stock Reuven Harrison intends to sell 50k shares in the next 90 days after lodging an Intent To Sell Form on the 13th of August. If the sale is conducted around the recent share price of US$11.20, it would amount to US$560k. Since March 2021, Reuven has owned 1.84m shares directly. There have been no trades via on-market transactions or options from company insiders in the last 12 months. Reported Earnings • Aug 13
Second quarter 2021 earnings released: US$0.32 loss per share (vs US$0.25 loss in 2Q 2020) The company reported a soft second quarter result with increased losses and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: US$25.7m (up 12% from 2Q 2020). Net loss: US$11.9m (loss widened 35% from 2Q 2020). Announcement • Aug 12
Tufin Software Technologies Ltd. Provides Earnings Guidance for the Third Quarter and Full Year of Fiscal 2021 Tufin Software Technologies Ltd. provided earnings guidance for the third quarter and full year of fiscal 2021. For the quarter, the company expects total revenue between $23.5 million and $27.5 million.
For the year, the company expects total revenue between $105.0 million and $113.0 million. Price Target Changed • Aug 12
Price target increased to US$12.64 Up from US$11.57, the current price target is an average from 8 analysts. New target price is 15% above last closing price of US$10.98. Stock is down 5.3% over the past year. Recent Insider Transactions Derivative • Jul 30
CTO, Co-Founder & Director notifies of intention to sell stock Reuven Harrison intends to sell 20k shares in the next 90 days after lodging an Intent To Sell Form on the 22nd of July. If the sale is conducted around the recent share price of US$10.24, it would amount to US$205k. Since March 2021, Reuven has owned 1.84m shares directly. There have been no trades via on-market transactions or options from company insiders in the last 12 months. Recent Insider Transactions Derivative • Jul 16
Chief Financial Officer notifies of intention to sell stock Jack Wakileh intends to sell 74k shares in the next 90 days after lodging an Intent To Sell Form on the 12th of July. If the sale is conducted around the recent share price of US$9.56, it would amount to US$703k. As of today, Jack currently holds no shares directly (This sale likely refers to shares that have not yet been received). There have been no trades via on-market transactions or options from company insiders in the last 12 months. Announcement • Jun 26
Tufin Introduces Rule Lifecycle Management (RLM) App to Marketplace Tufin announced the release of the Tufin Rule Lifecycle Management (RLM) App, the latest addition to the Tufin Marketplace. The new app simplifies and manages the rule review and certification process by automatically identifying expiring or expired rules and mapping them to their owners, enabling a simple recertification or decertification of rules. Rule review is typically a complicated task. One of the biggest challenges organizations face in the rule review and recertification process is determining rule ownership. Due to organizational and personnel shifts, application owners and rule owners are constantly changing. In addition, many rules are associated with several owners, and some rules are assigned to inactive owners such as those who have left the company. Tufin’s Rule Lifecycle Management App enables orchestration of rule recertification across security, network, application owners and development teams. It integrates with CMDBs to map network owners, identifies inactive owners for rule reassignment and orchestrates certification across the right set of rule owners. RLM automates recertification, rule changes and documentation, and maintains a consistent audit trail of rule certifications. In addition, the app provides a best practices model that network admins can configure for their own use case. The Rule Lifecycle Management App is now available on the Tufin Marketplace. Announcement • Jun 16
Tufin® Announces the Release of Tufin Orchestration Suite R21-2 Tufin® announced the release of Tufin Orchestration Suite R21-2, enabling users to accelerate and optimize security and network operations to improve productivity, audit readiness, and security. As the market leader in security policy automation, Tufin now offers automated access decommissioning that streamlines the process of safely and accurately removing underlying rules and network objects, once access is no longer deemed appropriate or necessary. A typically complicated task, decommissioning access requires visibility into the implications of specific changes to avoid breaking valid connections and disrupting applications. By extending the access request workflow to incorporate automated access decommissioning, customers now have a controlled and well-documented means of removing access, ultimately minimizing the risk for outages while maintaining the highest security posture. Reported Earnings • May 15
First quarter 2021 earnings released: US$0.32 loss per share (vs US$0.48 loss in 1Q 2020) The company reported a solid first quarter result with reduced losses and improved control over expenses, although revenues were flat. First quarter 2021 results: Revenue: US$21.4m (flat on 1Q 2020). Net loss: US$11.6m (loss narrowed 32% from 1Q 2020). Announcement • May 14
Tufin Software Technologies Ltd. Provides Earnings Guidance for the Second Quarter and Full Year of Fiscal 2021 Tufin Software Technologies Ltd. provided earnings guidance for the second quarter and full year of fiscal 2021. For the quarter, the company expects total revenue between $21.0 million and $25.0 million.
For the year, the company expects total revenue between $105.0 million and $113.0 million. Price Target Changed • May 13
Price target decreased to US$12.86 Down from US$17.14, the current price target is an average from 8 analysts. New target price is 61% above last closing price of US$8.00. Stock is down 4.9% over the past year. Announcement • Mar 16
Tufin Announces Policy Change Automation App for Cisco ACI Tufin Software Technologies Ltd. announced the release of the Policy Change Automation (PCA) app for Cisco ACI, further advancing Tufin’s leadership in security policy automation in Software Defined Networking (SDN) environments. Cisco Application Centric Infrastructure (Cisco ACI), a SDN solution, offers many deployment and configuration options that can lead to potentially complex implementations, placing strains on day-to-day operations. While automation solutions for ACI avoid manual errors and make change requests more efficient, they must accommodate a wide variety of possible implementations, deploying the right ACI contracts and relevant firewall rule
changes. Announcement • Mar 05
Tufin Announces the Release of the Vulnerability-Based Change Automation App Tufin announced the release of the Vulnerability-Based Change Automation App (VCA). The new app expands Tufin’s vulnerability management capabilities with automated vulnerability checks prior to approving network access changes. When combined with the Vulnerability Mitigation App (VMA), Tufin delivers a vulnerability management solution that allows customers to maintain additional control over their attack surface when making network changes. One of the challenges network teams face when setting a new security rule or enabling connectivity is ensuring that access is not being granted to vulnerable servers. The VCA addresses this problem by automatically retrieving data from an organization’s vulnerability scanner and reflecting the results in the risk assessment step of an access request workflow. Customers can ensure there are no risky vulnerabilities in the source or destination of a change ticket before provisioning new network access. The VCA pairs well with the Tufin VMA, which enables organizations to prioritize remediation efforts and automatically apply mitigating controls by limiting access to assets with vulnerabilities. By combining the capabilities of VCA and VMA, customers have the context to identify and address vulnerabilities that pose the greatest threat to critical business assets and mitigate or remove existing access as required. The Vulnerability-Based Change Automation App delivers the following benefits: Improves security posture by preventing connectivity to or from risky assets, Ensures there are no vulnerabilities within source or destination assets before provisioning new network access, Validates consistent risk assessments during network changes with associated documentation and audit trails and Increases efficiency of both network and security teams through the automation of security controls. VCA provides out-of-the box integrations with leading vulnerability management providers including Qualys, Rapid7, and Tenable. The app is now available on the Tufin Marketplace. Reported Earnings • Mar 05
Full year 2020 earnings released: US$0.99 loss per share (vs US$1.04 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: US$100.8m (down 2.4% from FY 2019). Net loss: US$35.4m (loss widened 26% from FY 2019). Analyst Estimate Surprise Post Earnings • Mar 05
Revenue beats expectations Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to grow 8.7%, compared to a 17% growth forecast for the Software industry in the US. Announcement • Mar 03
Tufin Extends Market Leadership in Automation of Hybrid Cloud Environments Tufin® announced the release of Tufin Orchestration Suite R21-1, enabling users to further automate security policy management and extend their visibility and control across the hybrid cloud. With R21-1, Tufin extends its leadership in automation of hybrid cloud environments with new automation abilities for Microsoft Azure customers. Through a single platform, Tufin now supports change automation workflows to secure north-south access across on-premise data centers and Azure cloud environments and east-west connectivity within Azure Virtual Networks (VNets). The integration of Tufin SecureChange and Tufin SecureCloud functionality uniquely enables customers to ensure visibility and control is maintained throughout the hybrid environment. Also, with the release of R21-1, Tufin extends the automation capabilities of Tufin SecureChange through an extensible application programmable interface (API) to include additional external platforms that are not directly managed by the Tufin Orchestration Suite. By incorporating information from external devices and platforms into SecureChange workflows, Tufin customers can centrally manage security changes for any platform across their hybrid environment. Additional features of the 21-1 release include: Check Point Inline Layer Automation support for firewall rule base optimization workflows. Additional topology support including AWS Cloud environments, IPv6, LDAP-based Policy Analysis, and more. Additional platform support for Cisco IOS-XE, Fortinet User-ID, Check Point CloudGuard, and VMware NSX-T. Tufin Orchestration Suite R21-1 is now generally available. Recent Insider Transactions Derivative • Feb 20
Senior Vice President of Global Sales notifies of intention to sell stock Kevin Maloney intends to sell 394k shares in the next 90 days after lodging an Intent To Sell Form on the 16th of February. If the sale is conducted around the recent share price of US$15.09, it would amount to US$5.9m. Since March 2020, Kevin has owned 20.00k shares directly. There have been no trades via on-market transactions or options from company insiders in the last 12 months. Major Estimate Revision • Feb 19
Analysts lower EPS estimates to -US$1.09 The 2021 consensus revenue estimate was lowered from US$113.1m to US$109.6m. The company's losses are expected to worsen with analysts lowering their EPS forecasts from -US$0.90 to -US$1.09 for the same period. The Software industry in the US is expected to see an average net income growth of 11% next year. The consensus price target was lowered from US$18.38 to US$18.13. Share price is down by 35% to US$11.95 over the past week. Reported Earnings • Feb 13
Full year 2020 earnings released: US$0.99 loss per share (vs US$1.04 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: US$100.8m (down 2.4% from FY 2019). Net loss: US$35.4m (loss widened 26% from FY 2019). Analyst Estimate Surprise Post Earnings • Feb 13
Revenue beats expectations Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to grow 12%, compared to a 19% growth forecast for the Software industry in the US. Recent Insider Transactions Derivative • Feb 11
Insider notifies of intention to sell stock Pamela Cyr intends to sell 5k shares in the next 90 days after lodging an Intent To Sell Form on the 5th of February. If the sale is conducted around the recent share price of US$18.29, it would amount to US$100k. As of today, Pamela currently holds no shares directly (This sale likely refers to shares that have not yet been received). There have been no trades via on-market transactions or options from company insiders in the last 12 months. Announcement • Jan 29
Tufin Expands Its Footprint in India with New Hires Tufin announced the appointment of Naresh Kaki and Siddhesh Kumbhar to the position of Regional Sales Managers in India. Naresh and Siddhesh will capture market share among enterprises in India as well as increase Tufin’s channel partners in the region. They are based in India and report to Michael Bosnar, Vice President of APAC Sales. Naresh Kaki brings more than 14 years of IT sales experience across several leadership roles in both software/SaaS and hardware, as well as building and managing presales, post sales, and customer success teams. Siddhesh Kumbhar brings nine years of direct customer and channel experience in hardware, software, and services. Before joining Tufin, Siddhesh served as Business Development Manager, Cybersecurity, at Sify Technologies. Is New 90 Day High Low • Jan 27
New 90-day high: US$18.92 The company is up 195% from its price of US$6.42 on 28 October 2020. The American market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$17.89 per share. Recent Insider Transactions Derivative • Jan 19
Insider notifies of intention to sell stock Pamela Cyr intends to sell roughly 49.41k shares in the next 90 days after lodging an Intent To Sell Form on the 14th of January. If the sale is conducted around the recent share price of US$16.02, it would amount to US$792k. As of today, Pamela currently holds no shares directly (This sale likely refers to shares that have not yet been received). There have been no trades via on-market transactions or options from company insiders in the last 12 months. Announcement • Jan 16
Tufin Software Technologies Ltd. to Report Q4, 2020 Results on Feb 12, 2021 Tufin Software Technologies Ltd. announced that they will report Q4, 2020 results Pre-Market on Feb 12, 2021 Price Target Changed • Jan 13
Price target raised to US$12.31 Up from US$10.81, the current price target is an average from 8 analysts. The new target price is 23% below the current share price of US$15.90. As of last close, the stock is up 12% over the past year. Is New 90 Day High Low • Jan 08
New 90-day high: US$13.00 The company is up 43% from its price of US$9.07 on 09 October 2020. The American market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$9.61 per share. Recent Insider Transactions Derivative • Dec 26
Insider notifies of intention to sell stock Pamela Cyr intends to sell roughly 24.71k shares in the next 90 days after lodging an Intent To Sell Form on the 18th of December. If the sale is conducted around the recent share price of US$12.12, it would amount to US$299k. As of today, Pamela currently holds no shares directly (This sale likely refers to shares that have not yet been received). There have been no trades via on-market transactions or options from company insiders in the last 12 months. Announcement • Dec 20
Tufin Announces the Release of Tufin Orchestration Suite R20-2 Tufin announced the release of Tufin Orchestration Suite R20-2, integrating network security policy best practices with external risk assessment tools to help users evaluate network access risks and minimize their attack surface. As a result, security teams can streamline the security review process and network teams can reduce the time required to deliver business-enabling connectivity. With Tufin Orchestration Suite R20-2, customers can enrich their risk analysis data by integrating information from third-party vulnerability scanners, SIEM and other risk assessment tools into Access Request workflows, improving their ability to assess network access risks. The latest release also integrates third party risk results into Tufin’s Unified Security Policy compliance assessment. The latest release of Tufin Orchestration Suite further extends Tufin’s next generation firewall support for Palo Alto Networks and Fortinet. Tufin now provides full zero-touch automation when processing network changes that include FQDN objects. This enables Tufin users to automate all parts of the change process when FQDN objects are in use - from risk assessment for access requests, to automatic selection of devices that need to be updated, and all the way to automatic change design and provisioning. The latest release also supports Global Level Configuration on Fortinet FortiManager devices, increasing visibility into objects, zones, and rules as part of the global policy. In addition, release R20-2 offers an automated change process for Custom Applications on Palo Alto Networks Panorama devices. With this capability, joint Palo Alto and Tufin customers can Increase agility by using both custom and predefined applications when processing network changes using Tufin SecureChange. The latest release also includes automation for tags on Palo Alto Panorama devices, eliminating manual work by adding Panorama tags to new rules as part of the Access Request workflow. Tufin Orchestration Suite R20-2 will be available starting December 21, 2020. Announcement • Dec 17
Tufin Announces Support for Google Cloud Platform Tufin announced that Tufin SecureCloud™ now supports the Google Cloud Platform, allowing customers to use SecureCloud to define and monitor compliance with security guardrails. As more organizations adopt a multi-cloud strategy, Tufin customers can now operate secured applications across the three leading cloud providers – Amazon Web Services, Microsoft Azure, and Google Cloud Platform. Tufin also rolled out significant enhancements to Microsoft Azure Firewall support. SecureCloud now automatically discovers Azure Firewalls in monitored subscriptions and analyzes them for security risks and misconfigurations. The impact of Azure Firewall policies on application and asset exposure is also reflected in SecureCloud. Expanding SecureCloud’s ability to provide visibility, strengthen compliance, and deliver security policy automation to large enterprises deploying workloads in the public cloud or Kubernetes, Tufin has added the following features: enhanced reporting capabilities allowing users to generate security reports, configurable security policies, support for policy exception management, and SOC2 compliance. Recent Insider Transactions Derivative • Dec 16
CEO, Co-Founder & Chairman of the Board notifies of intention to sell stock Reuven Kitov intends to sell roughly 10.00k shares in the next 90 days after lodging an Intent To Sell Form on the 10th of December. If the sale is conducted around the recent share price of US$8.84, it would amount to US$88k. Since March 2020, Reuven has owned 2.27m shares directly. There have been no trades via on-market transactions or options from company insiders in the last 12 months. Is New 90 Day High Low • Dec 11
New 90-day high: US$9.66 The company is up 6.0% from its price of US$9.10 on 11 September 2020. The American market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$7.70 per share. Announcement • Nov 18
Tufin to Integrate with AWS Network Firewall to Deliver Security Policy Management Across Amazon Virtual Private Clouds Tufin® announced it will integrate with AWS Network Firewall, a new managed service that makes it easy to deploy essential network protections for all Amazon Virtual Private Clouds (Amazon VPCs) on Amazon Web Services (AWS), on-premise data centers and other cloud platforms for full visibility across the enterprise. AWS Network Firewall is a managed service that makes it easy to deploy essential network protections for Amazon VPCs by leveraging its flexible rules engine, allowing users to define firewall rules that provide fine-grained control over network traffic. Integrating these capabilities with Tufin will also allow users to gain visibility into cloud security posture, establish security guardrails and achieve continuous compliance, without compromising the business benefits of cloud computing. Announcement • Nov 14
Tufin to Add IPAM Security Policy App to its Marketplace Tufin® announced the release of the Tufin IPAM Security Policy (ISP) App, the latest addition to the Tufin Marketplace. Providing out-of-the-box integration with leading IPAM solutions, the new app ensures that network changes made through IPAM are visible to network security teams and are consistent with established network security policies. Network security teams face many challenges when it comes to maintaining accurate segmentation strategies. With frequent changes to the network and a lack of communication between network and security teams, maintaining consistency is difficult. Even in cases where changes are communicated across these teams, it is still virtually impossible to assess in real-time how these changes impact network security posture. Tufin will also release an update to its Vulnerability Mitigation App (VMA) that allows organizations to prioritize remediation and mitigation efforts by enhancing vulnerability data with network insights. The latest version of VMA adds the following new capabilities: Support for disabling access and restoring access to vulnerable/patched assets using the Group Object Modification workflow. This workflow provides the ability to enforce temporary mitigation of access, to allow time for remediation and to restore connectivity once patched. Topology-based analysis to determine if network and host-based vulnerabilities are exposed to the Internet, or other untrusted zones, through the exploitable service. Reporting based on most prevalent exposed vulnerable assets and most exposed zones. Price Target Changed • Nov 14
Price target lowered to US$11.28 Down from US$12.33, the current price target is an average from 9 analysts. The new target price is 57% above the current share price of US$7.20. As of last close, the stock is down 59% over the past year. Reported Earnings • Nov 14
Third quarter 2020 earnings released: US$0.14 loss per share The company reported a decent third quarter result with reduced losses and improved control over expenses, although revenues were flat. Third quarter 2020 results: Revenue: US$25.6m (flat on 3Q 2019). Net loss: US$5.15m (loss narrowed 38% from 3Q 2019). Analyst Estimate Surprise Post Earnings • Nov 14
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 8.5%. Earnings per share (EPS) missed analyst estimates by 36%. Over the next year, revenue is forecast to grow 5.4%, compared to a 17% growth forecast for the Software industry in the US. Announcement • Oct 13
Tufin Software Technologies Ltd. to Report Q3, 2020 Results on Nov 12, 2020 Tufin Software Technologies Ltd. announced that they will report Q3, 2020 results at 9:00 AM, Israel Standard Time on Nov 12, 2020 Announcement • Sep 24
Tufin Introduces New Developer Course to Its Service Delivery Partner Plus Program Tufin announced that its Service Delivery Partner Plus (SDP+) training program has introduced a new developer course to its 2020 portfolio. Designed to fill industry gaps, the course delivers training and development opportunities in key areas such as Tufin APIs, integrations, customizations, and development techniques. Led by Tufin’s service delivery team, the new course provides partners with hands-on experience configuring, managing, and developing customizations for their customers’ use of the Tufin Orchestration Suite, utilizing Tufin APIs to help users get the most out of their investment. With a formalized training program, partners can ensure quality and consistency around developing and delivering customizations for their customers. In addition, the course provides partners with the foundation for development of Marketplace applications. The newly launched Workflow Integrator App on the Tufin Marketplace provides a framework for partners to extend the Tufin Orchestration Suite and their own applications or scripts to integrate with practically any API-based system. Tufin partners are encouraged to contribute their extensions and applications to the Marketplace, provide additional value to joint customers, and increase their profile and reach with the Tufin customer base. New partners in the SDP+ program are G2 Deployment Advisors in the United States and Pegasus Consultancy Services in the United Kingdom. SDP+ partners will work closely with Tufin engineers to understand best practices on deploying Tufin customizations and integrations for customers. Announcement • Sep 17
The Schall Law Firm Announces the Filing of A Class Action Lawsuit Against Tufin Software Technologies Ltd. and Encourages Investors with Losses in Excess of $100,000 to Contact The Schall Law Firm announced the filing of a class action lawsuit against Tufin Software Technologies Ltd. for violations of the federal securities laws. Investors who purchased the Company's shares pursuant and/or traceable to the registration statement and related prospectus (collectively, the "Registration Statement") issued in connection with Tufin's April 2019 initial public offering (the "IPO") and its December 2019 secondary public offering ("SPO") are encouraged to contact the firm before September 18, 2020. According to the Complaint, the Company made false and misleading statements to the market. Tufin misled investors on key topics including its North American business, growth metrics, and customer relationships. In fact, the Company's business was deteriorating. The Company's representations were overly optimistic and adverse conditions impacting its financial prospects were known and concealed by the Company and its executives. Based on these facts, the Company's public statements were false and materially misleading. When the market learned the truth about Tufin, investors suffered damages. Announcement • Aug 13
Tufin Software Technologies Ltd. Unable to Provided Earnings Guidance for the Third Quarter and Full Year of 2020 Tufin Software Technologies Ltd. unable to provided earnings guidance for the third quarter and full year of 2020. The company's pipeline remains healthy and is higher year over year. However, due to continued uncertainty associated with COVID-19 the company will not be providing specific financial guidance for third quarter or the full year at this time. Announcement • Jul 17
Tufin Software Technologies Ltd. to Report Q2, 2020 Results on Aug 12, 2020 Tufin Software Technologies Ltd. announced that they will report Q2, 2020 results at 9:00 AM, Israel Standard Time on Aug 12, 2020 