Market Analysts see Sumo Logic Inc. [SUMO] gaining to $16. Time to buy?

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Sumo Logic Inc. [NASDAQ: SUMO] traded at a low on 05/12/22, posting a -0.42 loss after which it closed the day’ session at $7.13. The company report on May 10, 2022 that Sumo Logic Announces Upcoming Conference Participation.

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Sumo Logic (NASDAQ: SUMO), the SaaS analytics platform to enable reliable and secure cloud-native applications, today announced that members of its management team will present at the following investor conference:.

Cowen 50th Annual Technology, Media & Telecom Conference, June 2nd at 6:40AM Pacific Time, 9:40 PM Eastern Time.

The results of the trading session contributed to over 6322045 shares changing hands. Over the past one week, the price volatility of Sumo Logic Inc. stands at 8.61% while the volatility over the past one month is 6.84%.

The market cap for SUMO stock reached $867.01 million, with 112.34 million shares outstanding and 109.34 million shares in the current float. Compared to the average trading volume of 1.23M shares, SUMO reached a trading volume of 6322045 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 $15.92 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 2.50. 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.

Berenberg have made an estimate for Sumo Logic Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on December 10, 2021. While these analysts kept the previous recommendation, Piper Sandler dropped their target price from $24 to $20. The new note on the price target was released on September 10, 2021, representing the official price target for Sumo Logic Inc. stock.

The Average True Range (ATR) for Sumo Logic Inc. is set at 0.63, with the Price to Sales ratio for SUMO stock in the period of the last 12 months amounting to 3.58. The Price to Book ratio for the last quarter was 1.91, with the Price to Cash per share for the same quarter was set at 2.39.

How has SUMO stock performed recently?

Sumo Logic Inc. [SUMO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -21.48. With this latest performance, SUMO shares dropped by -32.86% in over the last four-week period, additionally sinking by -57.38% over the last 6 months – not to mention a drop of -55.66% in the past year of trading.

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 25.67, with the RSI for the last a single of trading hit 20.23, and the three-weeks RSI is set at 29.80 for Sumo Logic Inc. [SUMO]. The present Moving Average for the last 50 days of trading for this stock 10.31, while it was recorded at 7.62 for the last single week of trading, and 14.36 for the last 200 days.

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 -46.15 and a Gross Margin at +67.59. Sumo Logic Inc.’s Net Margin is presently recorded at -50.95.

Return on Equity for this stock declined to -29.01, with Return on Assets sitting at -21.04.

Sumo Logic Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.20 and a Current Ratio set at 2.20.

Insider trade positions for Sumo Logic Inc. [SUMO]

There are presently around $562 million, or 71.00% of SUMO stock, in the hands of institutional investors. The top three institutional holders of SUMO stocks are: VANGUARD GROUP INC with ownership of 8,533,814, which is approximately 12.619% of the company’s market cap and around 4.90% of the total institutional ownership; SAPPHIRE VENTURES, L.L.C., holding 6,448,005 shares of the stock with an approximate value of $46.17 million in SUMO stocks shares; and BLACKROCK INC., currently with $45.2 million in SUMO stock with ownership of nearly 1.396% of the company’s market capitalization.

Positions in Sumo Logic Inc. stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 85 institutional holders increased their position in Sumo Logic Inc. [NASDAQ:SUMO] by around 9,940,264 shares. Additionally, 59 investors decreased positions by around 11,973,827 shares, while 25 investors held positions by with 56,566,669 shares. The mentioned changes placed institutional holdings at 78,480,760 shares, according to the latest SEC report filing. SUMO stock had 28 new institutional investments in for a total of 1,067,337 shares, while 19 institutional investors sold positions of 2,014,442 shares during the same period.