What You Need To Know About Sumo Logic Inc. (SUMO)

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SNOW Stock

Sumo Logic Inc. (NASDAQ:SUMO) finished Wednesday with a subtraction of -$0.18 to close at $7.65, a downside of -2.30 percent. An average of 1,998,620 shares of common stock have been traded in the last five days. There was a fall of -$1.26 in the past week, and it reached a new high 5 times over the past 12 months. The last 20 days have seen an average of 1,237,165 shares traded, while the 50-day average volume stands at 981,220.

SUMO stock has decreased by -4.85% in the last month. The company shares reached their 1-month lowest point of $7.65 on 09/21/22. With the stock rallying to its 52-week high on 01/04/22, shares of the company touched a low of $6.57 and a high of $17.80 in 52 weeks. It has reached a new high 2 times so far this year and lost -43.58% or -$5.91 in price. In spite of this, the price is down -57.02% from the 52-week high.


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Insider Transactions

7 days have passed since Sumo Logic Inc. (SUMO) last reported insider trading activity. McCord Jennifer, who is Chief Accounting Officer, most recently acquired $7,316 shares at $8.80 per share on Sep 15. In this transaction, the insider spent $64,388. Chief Marketing Officer, Chettiar Suku Krishnaraj, disposed of 8,946 shares at a price of $8.80 on Sep 15. The insider now owns more than $78,734 worth of shares. Prior to that, General Counsel and Secretary Haar Katherine went on to Sale 5,547 shares at $8.80 each on Sep 15. An amount of $48,819 was transacted.

Valuation Metrics

Sumo Logic Inc. (SUMO) has a trailing price-to-sales (P/S) ratio at 3.65, the price-to-book (PB) ratio at 2.30.

Financial Health

The quick ratio of Sumo Logic Inc. for the three months ended July 30 was 2.20, and the current ratio was 2.20, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.00 for the quarter ending July 30. Its gross profit as reported stood at $163.82 million compared to revenue of $242.12 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Sumo Logic Inc.’s return on assets was -22.60%.

Earnings Surprise

For the three-month period that ended July 30, Sumo Logic Inc. had $235.35 million in cash. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$35.88 million in the quarter, while revenues of -$34.75 million were grew 10.67%. The analyst consensus anticipated Sumo Logic Inc.’s latest quarter earnings to come in at -$0.14 per share, but it turned out to be -$0.1, a 28.60% surprise. For the quarter, EBITDA amounted to -$26.68 million. Shareholders own equity worth $118.55 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Sumo Logic Inc. (SUMO) price momentum. RSI 9-day as of the close on 21 September was 31.42%, suggesting the stock is Neutral, with historical volatility in this time frame at 56.81%.

As of today, SUMO’s price is $8.11 -14.14% or -$1.26 from its 5-day moving average. SUMO is currently trading -6.02% lower than its 20-day SMA and -22.57% lower than its 100-day SMA. However, the stock’s current price level is -0.13% below the SMA50 and -43.71% below the SMA200.

The stochastic %K and %D were 17.31% and 24.32%, respectively, and the average true range (ATR) was 0.46. With the 14-day stochastic at 0.00% and the average true range at 0.46, the RSI (14) stands at 38.52%. The stock has reached -0.60 on the 9-day MACD Oscillator while the 14-day reading was at -0.61.

Analyst Ratings

Berenberg downgraded Sumo Logic Inc. (NASDAQ: SUMO) to a a Hold rating in its most recent analyst report. Previously, the stock was rated as a Buy. The consensus rating for Sumo Logic Inc. (SUMO) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell SUMO, while 5 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 4 others rate it as a “buy”.

What is SUMO’s price target for the next 12 months?

Analysts predict a range of price targets between $8.00 and $18.00, with a median target of $11.00. Taking a look at these predictions, the average price target given by analysts for Sumo Logic Inc. (SUMO) stock is $11.71.

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