Sumo Logic Inc. [SUMO] Stock trading around $21.12 per share: What’s Next?

Sumo Logic Inc. [NASDAQ: SUMO] jumped around 1.86 points on Friday, while shares priced at $21.12 at the close of the session, up 9.66%. The company report on November 18, 2020 that Sumo Logic Integration with New AWS Network Firewall Service to Provide Visibility and Data Security Across Amazon Virtual Private Clouds.

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New Integration with Sumo Logic Cloud SIEM Delivers Real-Time Insights of AWS-Native Network Traffic and Automated Correlation of Threats Surfaced by AWS Network Firewall.

Sumo Logic (Nasdaq: SUMO), the pioneer in continuous intelligence, announced its Cloud SIEM solution now integrates with AWS Network Firewall, a new managed service that makes it easy to deploy essential network protections for all of your Amazon Virtual Private Clouds (Amazon VPCs) on Amazon Web Services (AWS). As organizations continue to ingest and collect more data, SecOps professionals are struggling to quickly detect, investigate and remediate cloud-based security issues. This integration provides security professionals real-time visibility into network traffic and automated correlation of threats surfaced by the AWS Network Firewall service, reducing the time to detect, investigate, and remediate security issues.

Compared to the average trading volume of 1.50M shares, SUMO reached a trading volume of 1315594 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Sumo Logic Inc. [SUMO]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SUMO shares is $28.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SUMO stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

William Blair have made an estimate for Sumo Logic Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on October 12, 2020. While these analysts kept the previous recommendation, RBC Capital Mkts raised their target price to Outperform. The new note on the price target was released on October 12, 2020, representing the official price target for Sumo Logic Inc. stock. Previously, the target price had yet another raise to $31, while Piper Sandler analysts kept a Overweight rating on SUMO stock.

The Average True Range (ATR) for Sumo Logic Inc. is set at 1.26, with the Price to Sales ratio for SUMO stock in the period of the last 12 months amounting to 10.48.

How has SUMO stock performed recently?

Sumo Logic Inc. [SUMO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 11.45.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SUMO stock in for the last two-week period is set at 56.64, with the RSI for the last a single of trading hit 63.93, and the three-weeks RSI is set at 49.25 for Sumo Logic Inc. [SUMO], while it was recorded at 19.57 for the last single week of trading.

Sumo Logic Inc. [SUMO]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Sumo Logic Inc. [SUMO] shares currently have an operating margin of -53.79 and a Gross Margin at +71.30. Sumo Logic Inc.’s Net Margin is presently recorded at -59.42.

Return on Total Capital for SUMO is now -110.31, given the latest momentum, and Return on Invested Capital for the company is -121.85. Return on Equity for this stock declined to -121.85, with Return on Assets sitting at -52.45.

Receivables Turnover for the company is 7.01 with a Total Asset Turnover recorded at a value of 0.88.Sumo Logic Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.30.

Insider trade positions for Sumo Logic Inc. [SUMO]

There are presently around $587 million, or 62.30% of SUMO stock, in the hands of institutional investors. The top three institutional holders of SUMO stocks are: SAPPHIRE VENTURES, L.L.C. with ownership of 6,448,005, which is approximately New of the company’s market cap and around 3.60% of the total institutional ownership; TIGER GLOBAL MANAGEMENT LLC, holding 5,391,187 shares of the stock with an approximate value of $113.86 million in SUMO stocks shares; and SC US (TTGP), LTD., currently with $71.92 million in SUMO stock with ownership of nearly New of the company’s market capitalization.

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Positions in Sumo Logic Inc. stocks held by institutional investors increased at the end of December and at the time of the December reporting period, where 80 institutional holders increased their position in Sumo Logic Inc. [NASDAQ:SUMO] by around 27,792,717 shares. Additionally, 0 investors decreased positions by around 0 shares, while 0 investors held positions by with 0 shares. The mentioned changes placed institutional holdings at 27,792,717 shares, according to the latest SEC report filing. SUMO stock had 80 new institutional investments in for a total of 27,792,717 shares, while 0 institutional investors sold positions of 0 shares during the same period.

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