Sumo Logic Inc. (NASDAQ:SUMO) saw an upside of 28.68% to close Monday at $9.87 after adding $2.2 on the day. The 5-day average trading volume is 2,949,440 shares of the company’s common stock. It has gained $10.25 in the past week and touched a new high 3 times within the past 5 days. An average of 1,279,290 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,175,106.
SUMO’s 1-month performance is 22.00% or $2.01 on its low of $7.17 reached on 01/06/23. The company’s shares have touched a 52-week low of $6.43 and high of $12.67, with the stock’s rally to the 52-week high happening on 01/23/23. YTD, SUMO has achieved 21.85% or $1.77 and has reached a new high 2 times. However, the current price is down -22.10% from the 52-week high price.
SUMO stock investors last saw insider trading activity on Dec 15.McCord Jennifer (Chief Accounting Officer) most recently sold 4,989 shares at $8.30 per share on Dec 15. This transaction cost the insider $41,429. Chief Marketing Officer, Chettiar Suku Krishnaraj, sold 45,554 shares at a price of $8.30 on Dec 15. Then, on Dec 15, Director Beedgen Christian sold 11,339 shares at a price of $8.30 per share. This transaction amounted to $94,159.
Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 4.01 while the price-to-book (PB) in the most recent quarter is 3.09.
Sumo Logic Inc.’s quick ratio for the period ended October 30 was 2.20, with the current ratio over the same period at 2.20. In terms of profitability, the gross margin trailing 12 months is 66.10%. The firm’s gross profit as reported stood at $163.82 million against revenue of $242.12 million.
For the quarterly period ending October 30 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income shrunk -17.31% to -$26.29 million, while revenue of -$35.88 million was -36.48% off the previous quarter. Analysts expected SUMO to announce -$0.15 per share in earnings in its latest quarter, but it posted -$0.04, representing a 73.30% surprise. EBITDA for the quarter stood at more than -$18.12 million. SUMO stock balance sheet for the quarter ending October 30 shows that total liabilities totaled 196.11 million, with total debt at $2.72 million. Shareholders hold equity totaling $120.01 million.
Let’s look briefly at Sumo Logic Inc. (SUMO) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 23 January was 80.12% to suggest the stock is trending Overbought, with historical volatility in this time period at 126.42%.
The stock’s 5-day moving average is $8.08, reflecting a +26.54% or $2.07 change from its current price. SUMO is currently trading +20.66% above its 20-day SMA, +8.70% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +43.25% and SMA200 by-14.84%.
Stochastic %K and %D was 50.05% and 39.43% and the average true range (ATR) pointed at 0.63. The RSI (14) points at 72.11%, while the 14-day stochastic is at 87.66% with the period’s ATR at 0.57. The stock’s 9-day MACD Oscillator is pointing at 0.48 and 0.57 on the 14-day charts.
In the most recent analyst report for Sumo Logic Inc. (NASDAQ: SUMO), Berenberg downgraded it to a Hold rating. They previously had a Buy rating on the stock. Analysts offering their rating for SUMO stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate SUMO as a “sell,”, while 5 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 5 have offered a “buy” rating.
What is SUMO’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $8.50 and a high of $19.00, with their median price target at $10.00. Looking at these predictions, the average price target given by analysts is for Sumo Logic Inc. (SUMO) stock is $12.06.