$66.13 Million in Sales Expected for Sumo Logic, Inc. (NASDAQ:SUMO) This Quarter

Brokerages expect Sumo Logic, Inc. (NASDAQ:SUMOGet Rating) to announce $66.13 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Sumo Logic’s earnings. The lowest sales estimate is $66.00 million and the highest is $66.30 million. Sumo Logic reported sales of $54.22 million in the same quarter last year, which indicates a positive year-over-year growth rate of 22%. The business is expected to report its next earnings results on Monday, January 1st.

On average, analysts expect that Sumo Logic will report full-year sales of $290.58 million for the current financial year, with estimates ranging from $290.00 million to $291.50 million. For the next year, analysts forecast that the company will post sales of $343.89 million, with estimates ranging from $340.22 million to $349.80 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Sumo Logic.

Sumo Logic (NASDAQ:SUMOGet Rating) last announced its quarterly earnings results on Tuesday, March 8th. The company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.03. Sumo Logic had a negative return on equity of 24.66% and a negative net margin of 50.95%. The firm had revenue of $67.05 million for the quarter, compared to analysts’ expectations of $64.33 million. During the same period in the prior year, the business posted ($0.19) earnings per share. The business’s revenue was up 23.8% compared to the same quarter last year.

Several analysts have recently commented on the company. Zacks Investment Research cut Sumo Logic from a “hold” rating to a “sell” rating in a report on Saturday, March 12th. Royal Bank of Canada cut their price target on Sumo Logic from $19.00 to $17.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 9th. Morgan Stanley cut their price target on Sumo Logic from $20.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 23rd. Piper Sandler cut their price target on Sumo Logic from $15.00 to $12.50 and set a “neutral” rating on the stock in a research note on Wednesday, March 9th. Finally, Rosenblatt Securities cut their price target on Sumo Logic from $27.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, March 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Sumo Logic currently has an average rating of “Hold” and a consensus price target of $17.31.

In other Sumo Logic news, Director Christian Beedgen sold 5,778 shares of the stock in a transaction dated Thursday, March 17th. The stock was sold at an average price of $10.27, for a total value of $59,340.06. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 9.40% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new stake in shares of Sumo Logic in the third quarter worth about $474,000. Versor Investments LP bought a new stake in shares of Sumo Logic in the third quarter worth about $261,000. Deutsche Bank AG increased its holdings in shares of Sumo Logic by 799.9% in the third quarter. Deutsche Bank AG now owns 506,167 shares of the company’s stock worth $8,159,000 after acquiring an additional 449,919 shares in the last quarter. Malaga Cove Capital LLC increased its holdings in shares of Sumo Logic by 36.0% in the third quarter. Malaga Cove Capital LLC now owns 47,452 shares of the company’s stock worth $765,000 after acquiring an additional 12,560 shares in the last quarter. Finally, Adviser Investments LLC increased its holdings in shares of Sumo Logic by 51.1% in the third quarter. Adviser Investments LLC now owns 27,293 shares of the company’s stock worth $440,000 after acquiring an additional 9,229 shares in the last quarter. 71.37% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:SUMO opened at $9.66 on Monday. The business’s fifty day moving average price is $11.12 and its two-hundred day moving average price is $13.17. Sumo Logic has a fifty-two week low of $8.86 and a fifty-two week high of $23.48. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of -8.47 and a beta of 2.47.

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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Earnings History and Estimates for Sumo Logic (NASDAQ:SUMO)

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