Sumo Logic (NASDAQ:SUMO) updated its FY 2022 earnings guidance on Tuesday. The company provided EPS guidance of $-0.570–0.550 for the period, compared to the Thomson Reuters consensus EPS estimate of $-0.480. The company issued revenue guidance of $233 million-236 million, compared to the consensus revenue estimate of $233.86 million.Sumo Logic also updated its Q2 2022 guidance to $-0.140–0.140 EPS.
A number of research analysts recently commented on the company. Royal Bank of Canada decreased their price objective on Sumo Logic from $30.00 to $25.00 and set an outperform rating on the stock in a report on Friday, June 4th. Cowen decreased their price objective on Sumo Logic from $35.00 to $32.00 and set an outperform rating on the stock in a report on Thursday, March 11th. Zacks Investment Research cut Sumo Logic from a hold rating to a sell rating in a report on Thursday. Jefferies Financial Group decreased their price objective on Sumo Logic from $27.00 to $19.00 and set a hold rating on the stock in a report on Tuesday, May 18th. They noted that the move was a valuation call. Finally, BTIG Research decreased their price objective on Sumo Logic from $35.00 to $27.00 and set a buy rating on the stock in a report on Friday, June 4th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $26.56.
NASDAQ SUMO traded up $0.67 on Thursday, reaching $21.49. The stock had a trading volume of 1,734,498 shares, compared to its average volume of 1,434,668. The company has a market capitalization of $2.30 billion and a price-to-earnings ratio of -14.23. Sumo Logic has a 12-month low of $15.80 and a 12-month high of $46.37. The company’s fifty day moving average price is $18.85.
In other news, CEO Ramin Sayar sold 217,375 shares of the company’s stock in a transaction on Monday, March 22nd. The stock was sold at an average price of $19.71, for a total transaction of $4,284,461.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Christian Beedgen sold 90,000 shares of the company’s stock in a transaction on Thursday, April 1st. The stock was sold at an average price of $18.03, for a total value of $1,622,700.00. Insiders have sold 783,613 shares of company stock worth $15,331,932 in the last ninety days.
About Sumo Logic
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. Its platform enables organizations to automate the collection, ingestion, and analysis of application, infrastructure, security, and IoT data to derive actionable insights.
Featured Article: Profit margin is different from the revenue
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.