Brokerages Set Sumo Logic, Inc. (NASDAQ:SUMO) PT at $31.38


Share on StockTwits

Shares of Sumo Logic, Inc. (NASDAQ:SUMO) have been given a consensus rating of “Buy” by the ten research firms that are presently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $31.38.

Several analysts recently weighed in on SUMO shares. Cowen lowered their price objective on Sumo Logic from $35.00 to $32.00 and set an “outperform” rating for the company in a report on Thursday, March 11th. Piper Sandler upped their target price on Sumo Logic from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Tuesday, January 5th. Rosenblatt Securities lowered their target price on Sumo Logic from $46.00 to $44.00 and set a “buy” rating for the company in a report on Wednesday, March 17th. Morgan Stanley lowered their target price on Sumo Logic from $28.00 to $26.00 and set an “equal weight” rating for the company in a report on Wednesday, March 17th. Finally, BTIG Research decreased their price objective on Sumo Logic from $42.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, March 17th.

In other news, General Counsel Katherine Haar sold 5,424 shares of the stock in a transaction on Tuesday, March 16th. The stock was sold at an average price of $21.66, for a total transaction of $117,483.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sydney Carey sold 10,500 shares of the stock in a transaction on Thursday, April 1st. The shares were sold at an average price of $19.22, for a total value of $201,810.00. The disclosure for this sale can be found here. Insiders sold 631,613 shares of company stock valued at $12,503,907 over the last 90 days.

Large investors have recently made changes to their positions in the company. Elephas Investment Management Ltd acquired a new stake in shares of Sumo Logic during the 3rd quarter valued at $76,000. Strs Ohio acquired a new stake in shares of Sumo Logic during the 4th quarter valued at $100,000. James Investment Research Inc. acquired a new stake in shares of Sumo Logic during the 4th quarter valued at $102,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Sumo Logic during the 4th quarter valued at $181,000. Finally, Vontobel Holding Ltd. acquired a new stake in shares of Sumo Logic during the 4th quarter valued at $209,000. Institutional investors own 27.17% of the company’s stock.

NASDAQ:SUMO opened at $18.67 on Monday. Sumo Logic has a one year low of $16.50 and a one year high of $46.37. The stock has a 50-day simple moving average of $24.98.

Sumo Logic (NASDAQ:SUMO) last announced its quarterly earnings data on Wednesday, March 10th. The company reported ($0.07) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.05. The firm had revenue of $54.20 million during the quarter, compared to the consensus estimate of $52.13 million. Sumo Logic’s quarterly revenue was up 22.3% compared to the same quarter last year. Analysts forecast that Sumo Logic will post -1.65 EPS for the current year.

Sumo Logic Company Profile

Sumo Logic, Inc provides cloud-native software-as-a-service platform that enables organizations to address the challenges and opportunities presented by digital transformation, modern applications, and cloud computing worldwide. Its platform enables organizations to automate the collection, ingestion, and analysis of application, infrastructure, security, and IoT data to derive actionable insights.

Featured Article: Are 12b-1 Fees Affecting Your Mutual Fund Performance?

Analyst Recommendations for Sumo Logic (NASDAQ:SUMO)

Receive News & Ratings for Sumo Logic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sumo Logic and related companies with MarketBeat.com's FREE daily email newsletter.