Rosenblatt slashes price target on Sumo Logic Inc. [SUMO] – find out why.

Sumo Logic Inc. [NASDAQ: SUMO] plunged by -$0.84 during the normal trading session on Friday and reaching a high of $20.63 during the day while it closed the day at $19.45. The company report on March 11, 2021 that Sumo Logic Signs Definitive Agreement to Acquire SOAR Provider DFLabs.

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DFLabs Award-winning IncMan Security Operations, Automation and Response solution will Integrate Directly into Sumo Logic’s Cloud SIEM to Deliver a Comprehensive Analytics and Automation Solution to Combat Modern Threat Challenges.

Sumo Logic (Nasdaq: SUMO), the pioneer of continuous intelligence, announced that it has entered into an agreement to acquire DF Labs S.p.A., a provider of security orchestration, automation and response (SOAR) software. The acquisition will extend Sumo Logic’s cloud-native SIEM solution to help reduce or eliminate tedious and error-prone manual tasks and empower SOC teams to accelerate threat detection, analysis, incident response and forensic investigations. The addition of DFLabs to the Sumo Logic Continuous Intelligence Platform™ will provide customers of varying sizes and maturities with comprehensive cloud-native security intelligence solutions built for ’s digital businesses that leverage modern applications, architectures and multi-cloud infrastructures.

Sumo Logic Inc. stock has also gained 1.57% of its value over the past 7 days. However, SUMO stock has declined by -37.30% in the 3 months of the year. Over the past six months meanwhile, it has lost -11.63% and lost -31.95% year-on date.

The market cap for SUMO stock reached $2.08 billion, with 102.09 million shares outstanding and 95.67 million shares in the current float. Compared to the average trading volume of 1.66M shares, SUMO reached a trading volume of 2940350 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $31.33 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.

Rosenblatt have made an estimate for Sumo Logic Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 11, 2021. 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 $30, while RBC Capital Mkts analysts kept a Outperform rating on SUMO stock.

The Average True Range (ATR) for Sumo Logic Inc. is set at 1.37, with the Price to Sales ratio for SUMO stock in the period of the last 12 months amounting to 10.29. The Price to Book ratio for the last quarter was 4.60, with the Price to Cash per share for the same quarter was set at 3.77.

SUMO stock trade performance evaluation

Sumo Logic Inc. [SUMO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.57. With this latest performance, SUMO shares dropped by -7.38% in over the last four-week period, additionally sinking by -11.63% over the last 6 months.

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 40.53, with the RSI for the last a single of trading hit 44.52, and the three-weeks RSI is set at 39.55 for Sumo Logic Inc. [SUMO]. The present Moving Average for the last 50 days of trading for this stock 26.07, while it was recorded at 19.96 for the last single week of trading.

Sumo Logic Inc. [SUMO]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Sumo Logic Inc. [SUMO] shares currently have an operating margin of -38.32 and a Gross Margin at +72.12. Sumo Logic Inc.’s Net Margin is presently recorded at -39.63.

Return on Total Capital for SUMO is now -28.19, given the latest momentum, and Return on Invested Capital for the company is -29.15. Return on Equity for this stock declined to -29.15, with Return on Assets sitting at -19.87.

Reflecting on the efficiency of the workforce at the company, Sumo Logic Inc. [SUMO] managed to generate an average of -$105,793 per employee. Receivables Turnover for the company is 5.65 with a Total Asset Turnover recorded at a value of 0.50.Sumo Logic Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.60 and a Current Ratio set at 3.60.

Sumo Logic Inc. [SUMO]: Insider Ownership positions

There are presently around $1,273 million, or 67.50% of SUMO stock, in the hands of institutional investors. The top three institutional holders of SUMO stocks are: GREYLOCK XIII GP LLC with ownership of 18,442,890, which is approximately New of the company’s market cap and around 3.60% of the total institutional ownership; SAPPHIRE VENTURES, L.L.C., holding 6,448,005 shares of the stock with an approximate value of $125.41 million in SUMO stocks shares; and TIGER GLOBAL MANAGEMENT LLC, currently with $104.86 million in SUMO stock with ownership of nearly 0% 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 March and at the time of the March reporting period, where 81 institutional holders increased their position in Sumo Logic Inc. [NASDAQ:SUMO] by around 41,722,629 shares. Additionally, 48 investors decreased positions by around 4,047,619 shares, while 11 investors held positions by with 19,699,717 shares. The mentioned changes placed institutional holdings at 65,469,965 shares, according to the latest SEC report filing. SUMO stock had 61 new institutional investments in for a total of 38,361,530 shares, while 31 institutional investors sold positions of 3,065,091 shares during the same period.

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