Sumo Logic (NASDAQ:SUMO) Price Target Raised to $11.00 at Jefferies Financial Group

Sumo Logic (NASDAQ:SUMOGet Rating) had its price target upped by Jefferies Financial Group from $8.50 to $11.00 in a research note issued to investors on Tuesday, The Fly reports. Jefferies Financial Group currently has a hold rating on the stock.

Separately, Morgan Stanley decreased their target price on shares of Sumo Logic from $11.00 to $10.00 and set an equal weight rating on the stock in a report on Monday, December 19th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Hold and a consensus target price of $12.83.

Sumo Logic Stock Performance

NASDAQ SUMO opened at $11.01 on Tuesday. Sumo Logic has a 52-week low of $6.43 and a 52-week high of $12.67. The firm has a 50-day moving average of $7.87 and a 200-day moving average of $7.79. The stock has a market cap of $1.32 billion, a PE ratio of -9.74 and a beta of 1.06.

Sumo Logic (NASDAQ:SUMOGet Rating) last issued its quarterly earnings data on Monday, December 5th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.15. Sumo Logic had a negative net margin of 45.31% and a negative return on equity of 28.15%. The business had revenue of $79.00 million during the quarter, compared to analysts’ expectations of $74.20 million. During the same quarter in the previous year, the company earned ($0.24) EPS. The business’s revenue was up 27.4% on a year-over-year basis. As a group, analysts predict that Sumo Logic will post -0.96 EPS for the current fiscal year.

Insider Activity at Sumo Logic

In related news, Director Christian Beedgen sold 11,339 shares of Sumo Logic stock in a transaction that occurred on Thursday, December 15th. The shares were sold at an average price of $8.30, for a total transaction of $94,113.70. Following the sale, the director now directly owns 2,235,184 shares of the company’s stock, valued at approximately $18,552,027.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Sumo Logic news, CAO Jennifer Mccord sold 4,989 shares of the business’s stock in a transaction that occurred on Thursday, December 15th. The shares were sold at an average price of $8.30, for a total transaction of $41,408.70. Following the sale, the chief accounting officer now directly owns 194,995 shares of the company’s stock, valued at approximately $1,618,458.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christian Beedgen sold 11,339 shares of the business’s stock in a transaction that occurred on Thursday, December 15th. The stock was sold at an average price of $8.30, for a total transaction of $94,113.70. Following the sale, the director now directly owns 2,235,184 shares in the company, valued at $18,552,027.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 213,402 shares of company stock valued at $1,771,237. 7.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Sumo Logic

A number of institutional investors have recently added to or reduced their stakes in SUMO. Quantbot Technologies LP acquired a new position in shares of Sumo Logic in the 2nd quarter worth approximately $38,000. Metropolitan Life Insurance Co NY lifted its position in shares of Sumo Logic by 23.4% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 7,121 shares of the company’s stock worth $53,000 after purchasing an additional 1,350 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of Sumo Logic by 282.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 8,525 shares of the company’s stock worth $64,000 after purchasing an additional 6,294 shares during the period. Walleye Capital LLC acquired a new position in shares of Sumo Logic during the 2nd quarter valued at $76,000. Finally, Pinnacle Wealth Planning Services Inc. acquired a new position in shares of Sumo Logic during the 2nd quarter valued at $76,000. 71.65% of the stock is owned by institutional investors.

About Sumo Logic

(Get Rating)

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. It offers Continuous Intelligence Platform, a cloud-native, multi-tenant, and secure service that leverages to enable reliability and security of cloud applications and workloads.

Featured Articles

The Fly logo

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.