During the last session, Sumo Logic Inc. (NASDAQ:SUMO)’s traded shares were 1.05 million. At the end of the trading day, the stock’s price was $7.76, reflecting an intraday gain of 2.24% or $0.17. The 52-week high for the SUMO share is $23.48, that puts it down -202.58 from that peak though still a striking 11.47% gain since the share price plummeted to a 52-week low of $6.87. The company’s market capitalization is $849.88M, and the average intraday trading volume over the past 10 days was 1.15 million shares, and the average trade volume was 1.38 million shares over the past three months.
Sumo Logic Inc. (SUMO) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.40. SUMO has a Sell rating from 0 analyst(s) out of 9 analysts who have looked at this stock. 5 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 4 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.17.
Sumo Logic Inc. (NASDAQ:SUMO) trade information
Sumo Logic Inc. (SUMO) registered a 2.24% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 2.24% in intraday trading to $7.76 this Wednesday, 06/22/22, hitting a weekly high. The stock’s 5-day price performance is 7.93%, and it has moved by 0.78% in 30 days. Based on these gigs, the overall price performance for the year is -62.69%. The short interest in Sumo Logic Inc. (NASDAQ:SUMO) is 4.83 million shares and it means that shorts have 4.2 day(s) to cover.
The consensus price target of analysts on Wall Street is $12.57, which implies an increase of 38.27% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $8.00 and $18.00 respectively. As a result, SUMO is trading at a discount of -131.96% off the target high and -3.09% off the low.
Sumo Logic Inc. (SUMO) estimates and forecasts
Statistics show that Sumo Logic Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Sumo Logic Inc. (SUMO) shares have gone down -45.16% during the last six months, with a year-to-date growth rate less than the industry average at -28.26% against 4.10. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to shrink -54.50% this quarter and then drop -45.50% in the quarter after that. In the rating firms’ projections, revenue will increase 20.00% compared to the previous financial year.
Revenue for the current quarter is expected to be $66.07 million as predicted by 8 analyst(s). Meanwhile, a consensus of 8 analyst(s) estimates revenue growth to $70.47 million by the end of Jul 2022.
While earnings are projected to return 31.00% in 2022.
Sumo Logic Inc. is due to release its next quarterly earnings between March 08 and March 14. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Sumo Logic Inc. (NASDAQ:SUMO)’s Major holders
Sumo Logic Inc. insiders own 4.56% of total outstanding shares while institutional holders control 69.41%, with the float percentage being 72.73%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 213 institutions own stock in it. As of Dec 30, 2021, the company held over 8.53 million shares (or 7.48% of all shares), a total value of $115.72 million in shares.
The next largest institutional holding, with 6.45 million shares, is of Sapphire Ventures, LLC’s that is approximately 5.65% of outstanding shares. At the market price on Dec 30, 2021, these shares were valued at $87.43 million.
Also, the Mutual Funds coming in first place with the largest holdings of Sumo Logic Inc. (SUMO) shares are ETF Managers Tr-EFTMG Prime Cyber Security ETF and Vanguard Total Stock Market Index Fund. Data provided on Jan 30, 2022 indicates that ETF Managers Tr-EFTMG Prime Cyber Security ETF owns about 3.02 million shares. This amounts to just over 2.65 percent of the company’s overall shares, with a $36.0 million market value. The same data shows that the other fund manager holds slightly less at 2.67 million, or about 2.34% of the stock, which is worth about $36.15 million.