The trading price of Sumo Logic, Inc. (NASDAQ:SUMO) closed higher on Friday, Feb 19, closing at $36.09, 1.5% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $36.18 and $39.21. The company’s P/E ratio in the trailing 12-month period was 0, while its 5Y monthly beta was 0. In examining the 52-week price action we see that the stock hit a 52-week high of $46.37 and a 52-week low of $16.71. Over the past month, the stock has gained 20.02% in value.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned SUMO a recommendation rating is 10. Out of them, 3 rate it a Hold, while 7 recommend Buy, whereas none assign an Outperform rating. None analyst(s) have tagged Sumo Logic, Inc. (SUMO) as Underperform, while not any of them advise Sell. Analysts have rated the stock Overweight, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 0, which symbolizes a positive outlook. A quick review shows that SUMO’s price is currently 0.75% off the SMA20 and 15.06% off the SMA50. The RSI metric on the 14-day chart is currently showing 54.71, and weekly volatility stands at 8.16%. When measured over the past 30 days, the indicator reaches 9.75%. Sumo Logic, Inc. (NASDAQ:SUMO)’s beta value is currently sitting at 0, while the Average True Range indicator is currently displaying 3.02. With analysts defining $26-$46 as the low and high price targets, we arrive at a consensus price target of $33 for the trailing 12-month period. The current price is about -29.02% off the estimated low and 25.58% off the forecast high, based on this estimate. Investors will be thrilled if SUMO’s share price rises to $30, which is the median consensus price. At that level, SUMO’s share price would be -18.1% above current price.
To see how Sumo Logic, Inc. stock has been performing in comparison to its peers in the industry, here are the numbers: SUMO stock’s performance was +1.5% in the latest trading, and 0% in the past year, while Paypal Holdings (PYPL) has traded -1.34% on the day and positioned +134.35% higher than it was a year ago. Another comparable company Square (SQ) saw its stock close 2.11% higher in the most recent trading session but was up +222.72% in a year. Furthermore, Zoom Video Communications Cl A (ZM) showed an increase of 1.5% on the day while its price kept declining at 0% over the past year. Sumo Logic, Inc. has a P/E ratio of 0, compared to Paypal Holdings 81.1 and Square’s 597.34. Also in last trading session, the S&P 500 Index has soared -0.19%, while the Dow Jones Industrial also saw a negative seesion, down 0% on the day.
An evaluation of the daily trading volume of Sumo Logic, Inc. (NASDAQ:SUMO) indicates that the 3-month average is 1.44 Million. However, this figure has increased over the past 10 days to an average of 961.82 Million.
Currently, records show that 102.32 Million of the company’s shares remain outstanding. According to Thomson Reuters data, insiders hold 6.49% of outstanding shares, whereas institutions hold 60.16%. The stats also highlight that short interest as of January 28, 2021, stood at 6.54 Million shares, resulting in a short ratio of 5.58 at that time. From this, we can conclude that short interest is 6.39% of the company’s total outstanding shares. It is noteworthy that short shares in January were down slightly from the previous month’s figure, which was 8.58 Million. However, since the stock’s price has seen +28.17% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.
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