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BTIG Reaffirms Their Hold Rating on Sumo Logic (SUMO)

In a report issued on July 17, Gray Powell from BTIG maintained a Hold rating on Sumo Logic (SUMOResearch Report). The company’s shares closed last Tuesday at $6.86, close to its 52-week low of $6.73.

According to TipRanks.com, Powell is a 4-star analyst with an average return of 6.6% and a 48.3% success rate. Powell covers the Technology sector, focusing on stocks such as Ping Identity Holding, CrowdStrike Holdings, and Palo Alto Networks.

Sumo Logic has an analyst consensus of Moderate Buy, with a price target consensus of $12.25, which is a 72.1% upside from current levels. In a report issued on July 13, Piper Sandler also maintained a Hold rating on the stock with a $8.00 price target.

See today’s best-performing stocks on TipRanks >>

Sumo Logic’s market cap is currently $793.9M and has a P/E ratio of -5.82.

Based on the recent corporate insider activity of 83 insiders, corporate insider sentiment is neutral on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Sumo Logic Inc is a software company. The company develops software, which enables organizations of all sizes to address the challenges and opportunities presented by digital transformation, modern applications, and cloud computing. The software platform enables organizations to automate the collection, ingestion, and analysis of application, infrastructure, security, and IoT data. The solutions provided are Operations Intelligence, Security Intelligence, and Business Intelligence.

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