Sumo Logic Inc. [SUMO] gain 42.10% so far this year. What now?

Sumo Logic Inc. [NASDAQ: SUMO] slipped around -0.35 points on Friday, while shares priced at $11.51 at the close of the session, down -2.95%. The company report on March 7, 2023 that Sumo Logic Announces Fourth Quarter and Fiscal Year 2023 Financial Results.

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Fourth quarter revenue grew 19% year over year to $79.8 millionFull year fiscal 2023 revenue grew 24% year over year to $300.7 millionFull year fiscal 2023 ARR grew 17% year over year to $301.6 million.

Sumo Logic Inc. stock is now 42.10% up from its year-to-date (YTD) trading value. SUMO Stock saw the intraday high of $11.86 and lowest of $10.90 per share. The company’s 52-week high price is 12.60, which means current price is +60.53% above from all time high which was touched on 02/09/23.

Compared to the average trading volume of 2.25M shares, SUMO reached a trading volume of 22043380 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 $12.04 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 2.70. 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 0.24, with the Price to Sales ratio for SUMO stock in the period of the last 12 months amounting to 4.83. The Price to Book ratio for the last quarter was 3.61, with the Price to Cash per share for the same quarter was set at 2.55.

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 -3.44. With this latest performance, SUMO shares dropped by -5.50% in over the last four-week period, additionally plugging by 32.15% over the last 6 months – not to mention a rise of 6.48% 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 49.73, with the RSI for the last a single of trading hit 29.77, and the three-weeks RSI is set at 57.58 for Sumo Logic Inc. [SUMO]. The present Moving Average for the last 50 days of trading for this stock 10.48, while it was recorded at 11.81 for the last single week of trading, and 8.47 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 $997 million, or 74.20% of SUMO stock, in the hands of institutional investors. The top three institutional holders of SUMO stocks are: VANGUARD GROUP INC with ownership of 11,032,413, which is approximately 5.659% of the company’s market cap and around 3.90% of the total institutional ownership; BLACKROCK INC., holding 10,579,312 shares of the stock with an approximate value of $121.77 million in SUMO stocks shares; and SAPPHIRE VENTURES, L.L.C., currently with $74.22 million in SUMO stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Sumo Logic Inc. stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 93 institutional holders increased their position in Sumo Logic Inc. [NASDAQ:SUMO] by around 9,350,381 shares. Additionally, 66 investors decreased positions by around 8,892,963 shares, while 36 investors held positions by with 68,357,595 shares. The mentioned changes placed institutional holdings at 86,600,939 shares, according to the latest SEC report filing. SUMO stock had 31 new institutional investments in for a total of 596,953 shares, while 14 institutional investors sold positions of 2,562,987 shares during the same period.


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