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Sumo Logic Inc. (NASDAQ: SUMO) 28.68% Incline Turns Investors Off From Company Stock

Sumo Logic Inc. (NASDAQ:SUMO) traded at $9.87 at close of the session on Monday, 01/23/23, made an upward move of 28.68% on its previous day’s price.

Looking at the stock we see that its previous close was $7.67 and the beta (5Y monthly) reads 1.27 with the day’s price range being $7.65 – $10.25. In terms of its 52-week price range, SUMO has a high of $12.67 and a low of $6.43. The company’s stock has gained about 22.00% over that past 30 days.

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Sumo Logic Inc. has a market cap of $1.15 billion and is expected to release its quarterly earnings report on Mar 06, 2023 – Mar 10, 2023. Estimates by analysts give the company expected earnings per share (EPS) of -$0.14, with the EPS growth for the year raised at -$0.54 for 2023 and -$0.53 for next year. These figures represent -17.40% and 1.90% growth in EPS for the two years respectively.

Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $72.62 million, with a low of $62 million and a high of $74.5 million. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2023 is expected to hit $286.09 million, or 18.20% up from figures reported last year.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the SUMO stock, short term indicators assign the stock an average of Hold, while medium term indicators assign it an average of 50% Buy. Long term indicators on average place the stock in the category of 50% Buy.

Based on estimates by 10 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 5 have rated the Sumo Logic Inc. (SUMO) stock as a Hold, while 5 rate it as a Buy. 0 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Overweight and investors could take advantage and scoop up stock of the company.

Looking further, we note the current price level is 28.14% off its SMA20 and 26.86% from its 50-day simple moving average. The RSI (14) is pointing at 72.11 while the volatility over the past week is 10.50% and jumps to 6.23% over the past one month. The average price target for the stock over the next 12 months is $12.06, with the estimates having a low of $8.50 and a high of $19.00. These price ends are 13.88% and -92.5% off the current price level respectively, although investors could be excited at the prospect of a -1.32% if the SUMO share price touches on the median price of $10.00.

Let’s briefly compare Sumo Logic Inc. (SUMO) stock to its peers. We find that current price change of 28.68% and -12.96% over the past 12 months for SUMO competes that of Microsoft Corporation (MSFT), which has seen its stock price rise 0.98% in the last trading session and was -19.57% over the last one year. Another of its peers Alphabet Inc. (GOOGL) has gained 1.81% previous session, and was -25.14% down over the past year, while Alphabet Inc. (GOOG) was also up 1.94% in the last session, while its price remained in the red at -24.19% over the same period. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial were at 1.19% and 0.76%, respectively, at close of the trading.

Coming back to Sumo Logic Inc. (NASDAQ:SUMO), we note that the average 3-month trading volume was 938.79K, while that of the preceding 10-day period stands at 0.85 million. Current shares outstanding are 119.12 million.

The insiders hold 3.90% of the company’s shares while institutions hold 74.20%. The data shows that short shares as of Oct 13, 2022, stood at 5.77 million at a short ratio of 4.31. This represents a 4.87% short interest in shares outstanding on Oct 13, 2022. Shares short rose in October from the previous month at 5.23 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 21.85% up in year-to-date price movement.

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