Sumo Logic - SUMO Stock Forecast, Price & News

6 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Sumo Logic in the last year. There are currently 4 hold ratings and 2 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "hold" SUMO shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in SUMO, but not buy additional shares or sell existing shares.
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6 Wall Street research analysts have issued 1-year price objectives for Sumo Logic's stock. Their SUMO share price forecasts range from $8.00 to $21.00. On average, they anticipate the company's stock price to reach $13.07 in the next twelve months. This suggests a possible upside of 63.2% from the stock's current price.
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Sumo Logic's stock was trading at $13.56 at the beginning of the year. Since then, SUMO stock has decreased by 40.9% and is now trading at $8.01.
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The company is scheduled to release its next quarterly earnings announcement on Monday, March 6th 2023.
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Sumo Logic, Inc. (NASDAQ:SUMO) announced its quarterly earnings results on Monday, December, 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.15) by $0.11. The business had revenue of $79 million for the quarter, compared to analysts' expectations of $74.20 million. Sumo Logic had a negative trailing twelve-month return on equity of 27.75% and a negative net margin of 45.31%. The business's revenue was up 27.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.24) earnings per share.

Sumo Logic issued an update on its fourth quarter 2023 earnings guidance on Tuesday, December, 6th. The company provided earnings per share (EPS) guidance of -$0.09--$0.08 for the period, compared to the consensus EPS estimate of -$0.17. The company issued revenue guidance of $77.00 million-$78.00 million, compared to the consensus revenue estimate of $75.39 million.

(SUMO) raised $281 million in an initial public offering (IPO) on Thursday, September 17th 2020. The company issued 14,800,000 shares at a price of $17.00-$21.00 per share. Morgan Stanley, JPMorgan, RBC Capital Markets and Jefferies served as the underwriters for the IPO and William Blair, Cowen, Piper Sandler and BTIG were co-managers.

Sumo Logic trades on the NASDAQ under the ticker symbol "SUMO."

Sumo Logic's stock is owned by a number of retail and institutional investors. Top institutional shareholders include Vanguard Group Inc. (8.81%), BlackRock Inc. (7.70%), Brown Advisory Inc. (2.85%), Artemis Investment Management LLP (2.74%), State Street Corp (1.82%) and Renaissance Technologies LLC (1.71%). Insiders that own company stock include Christian Beedgen, Jennifer Mccord, Katherine Haar, Mfn Partners, Lp, Ramin Sayar, Steven D Fitz, Steven D Fitz, Suku Krishnaraj Chettiar and Sydney Carey.
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Shares of SUMO stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of SUMO stock can currently be purchased for approximately $8.01.

Sumo Logic (NASDAQ:SUMO) has a market capitalization of $949.56 million and generates $242.13 million in revenue each year. The company earns $-123,360,000.00 in net income (profit) each year or ($1.13) on an earnings per share basis.

The company employs 943 workers across the globe.

Sumo Logic's mailing address is 305 MAIN STREET, REDWOOD CITY CA, 94063. The official website for the company is www.sumologic.com. The company can be reached via phone at 650-810-8700 or via email at pthomas@sumologic.com.