In the latest trading session, 1.34 million Sumo Logic Inc. (NASDAQ:SUMO) shares changed hands as the company’s beta touched 0. With the company’s most recent per share price at $21.75 changed hands at -$0.21 or -0.96% at last look, the market valuation stands at $2.26B. SUMO’s current price is a discount, trading about -113.2% off its 52-week high of $46.37. The share price had its 52-week low at $15.80, which suggests the last value was 27.36% up since then. When we look at Sumo Logic Inc.’s average trading volume, we note the 10-day average is 2.39 million shares, with the 3-month average coming to 1.61 million.
Analysts gave the Sumo Logic Inc. (SUMO) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.10. If we narrow down to specifics, the data shows that 0 out of 10 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 3 recommended SUMO as a Hold, 7 felt it is a Buy and 0 rated the stock as Underweight. Sumo Logic Inc.’s EPS for the current quarter is expected to be -$0.14.
Sumo Logic Inc. (NASDAQ:SUMO) trade information
Instantly SUMO was in red as seen in intraday trades today. With action 0.46%, the performance over the past five days has been green. The drop to weekly highs of 22.13 on Friday, 06/18/21 subtracted -0.96% to the stock’s daily price. The company’s shares are showing year-to-date downside of -23.16%, with the 5-day performance at 0.46% in the green. However, in the 30-day time frame, Sumo Logic Inc. (NASDAQ:SUMO) is 22.00% up. Looking at the short shares, we see there were 3.75 million shares sold at short interest cover period of 4.25 days.
The consensus price target for the stock as assigned by Wall Street analysts is $25.22, meaning bulls need an upside of 13.76% from its recent market value. According to analyst projections, SUMO’s forecast low is $19.00 with $35.00 as the target high. To hit the forecast high, the stock’s price needs a -60.92% plunge from its current level, while the stock would need to tank 12.64% for it to hit the projected low.
Sumo Logic Inc. (SUMO) estimates and forecasts
Data shows that the Sumo Logic Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -16.44% over the past 6 months, a 16.42% in annual growth rate that is considerably higher than the industry average of 2.80%. Year-over-year growth is forecast to reach 16.00% up from the last financial year.
Consensus estimates given by 9 financial analysts project the company’s revenue in the current quarter to hit an average of $56.69 million. 8 analysts are of the opinion that Sumo Logic Inc.’s revenue for the quarter ending Oct 2021 will be $60.05 million. The company’s revenue for the corresponding quarters a year ago $49.12 million respectively. The estimates for the next quarter sales put growth at 22.30%.
The 2021 estimates are for Sumo Logic Inc. earnings to decrease by -76.20%.
Sumo Logic Inc. (NASDAQ:SUMO)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 6.71% of Sumo Logic Inc. shares while 66.12% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 70.87%. There are 66.12% institutions holding the Sumo Logic Inc. stock share, with Greylock XIII GP, LLC the top institutional holder. As of Mar 30, 2021, the company held 14.36% of the shares, roughly 14.75 million SUMO shares worth $278.21 million.
Sapphire Ventures, LLC holds the second largest percentage of outstanding shares, with 6.28% or 6.45 million shares worth $121.61 million as of Mar 30, 2021.
Among Mutual Funds, the top two as of Mar 30, 2021 were ETF Managers Tr-EFTMG Prime Cyber Security ETF and Federated Hermes Kaufmann Small Cap Fund. With 1.66 million shares estimated at $31.35 million under it, the former controlled 1.62% of total outstanding shares. On the other hand, Federated Hermes Kaufmann Small Cap Fund held about 1.16% of the shares, roughly 1.2 million shares worth around $41.12 million.