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Why Tufin Software Technologies Stock Was Slammed Thursday

TheMotleyFool

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Why Tufin Software Technologies Stock Was Slammed ThursdayPhoto, wide shot, wide-angle lens, Telecom equipment supplier, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Michael Light: https://img.theapi.app/temp/ad10ed87-71d0-4096-a50b-ba9470f8264b.png

Shares of Tufin Software Technologies (NYSE:TUFN) fell sharply on Thursday, declining about 24% as of 11:20 a.m. EST.

The stock's decline follows the network security automation company's preliminary fourth-quarter and 2019 results. Worse-than-expected fourth-quarter revenue and a non-GAAP (adjusted) operating loss (when management was guiding for an adjusted operating profit) are likely the main reasons for the market’s negative response to the update.

Image source: Getty Images.

Source Fool.com

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