Brokerages Expect Sumo Logic, Inc. (NASDAQ:SUMO) Will Post Earnings of -$0.17 Per Share

Wall Street analysts expect Sumo Logic, Inc. (NASDAQ:SUMO – Get Rating) to report earnings per share (EPS) of ($0.17) for the current quarter, Zacks reports. Six analysts have issued estimates for Sumo Logic’s earnings. Sumo Logic posted earnings per share of ($0.11) during the same quarter last year, which indicates a negative year-over-year growth rate of 54.5%. The business is scheduled to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Sumo Logic will report full-year earnings of ($0.68) per share for the current fiscal year, with EPS estimates ranging from ($0.68) to ($0.67). For the next financial year, analysts forecast that the company will post earnings of ($0.63) per share, with EPS estimates ranging from ($0.71) to ($0.53). Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that follow Sumo Logic.

Sumo Logic (NASDAQ:SUMO – Get Rating) last posted its quarterly earnings results on Tuesday, March 8th. The company reported ($0.27) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.30) by $0.03. The firm had revenue of $67.05 million during the quarter, compared to the consensus estimate of $64.33 million. Sumo Logic had a negative net margin of 50.95% and a negative return on equity of 24.66%. The company’s revenue was up 23.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.19) earnings per share.

A number of research analysts recently issued reports on the stock. Morgan Stanley decreased their target price on shares of Sumo Logic from $20.00 to $15.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 23rd. Rosenblatt Securities cut their target price on shares of Sumo Logic from $27.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, March 9th. Piper Sandler cut their target price on shares of Sumo Logic from $15.00 to $12.50 and set a “neutral” rating for the company in a research note on Wednesday, March 9th. Royal Bank of Canada dropped their price objective on shares of Sumo Logic from $19.00 to $17.00 and set an “outperform” rating for the company in a research note on Wednesday, March 9th. Finally, Jefferies Financial Group dropped their price objective on shares of Sumo Logic from $16.00 to $14.00 and set a “hold” rating for the company in a research note on Thursday, January 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $17.31.

NASDAQ SUMO traded down $0.16 on Friday, hitting $9.66. The stock had a trading volume of 1,059,276 shares, compared to its average volume of 1,060,570. Sumo Logic has a 52-week low of $8.86 and a 52-week high of $23.48. The business’s fifty day moving average price is $11.12 and its 200 day moving average price is $13.20. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of -8.47 and a beta of 2.47.

In related news, Director Christian Beedgen sold 5,778 shares of the firm’s stock in a transaction dated Thursday, March 17th. The shares were sold at an average price of $10.27, for a total value of $59,340.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.40% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of SUMO. Nisa Investment Advisors LLC grew its position in shares of Sumo Logic by 358.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,980 shares of the company’s stock worth $35,000 after acquiring an additional 2,330 shares during the last quarter. WealthShield Partners LLC purchased a new stake in Sumo Logic during the fourth quarter valued at about $152,000. Waldron Private Wealth LLC purchased a new stake in Sumo Logic during the fourth quarter valued at about $153,000. Bessemer Group Inc. increased its holdings in shares of Sumo Logic by 56.0% in the 4th quarter. Bessemer Group Inc. now owns 12,103 shares of the company’s stock valued at $164,000 after purchasing an additional 4,344 shares during the period. Finally, Strs Ohio acquired a new position in shares of Sumo Logic in the 4th quarter valued at about $166,000. 71.37% of the stock is currently owned by institutional investors and hedge funds.

Sumo Logic Company Profile (Get Rating)

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. It offers Continuous Intelligence Platform, a cloud-native, multi-tenant, and secure service that leverages to enable reliability and security of cloud applications and workloads.

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