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RBC Capital Maintains a Buy Rating on Sumo Logic (SUMO)

In a report issued on March 22, Matthew Hedberg from RBC Capital maintained a Buy rating on Sumo Logic (SUMOResearch Report), with a price target of $17.00. The company’s shares closed last Wednesday at $11.75.

According to TipRanks.com, Hedberg is a 4-star analyst with an average return of 6.8% and a 50.4% success rate. Hedberg covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Ping Identity Holding, and DoubleVerify Holdings.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Sumo Logic with a $15.58 average price target, representing a 34.3% upside. In a report issued on March 9, Rosenblatt Securities also maintained a Buy rating on the stock with a $21.00 price target.

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Based on Sumo Logic’s latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $67.05 million and GAAP net loss of $33.57 million. In comparison, last year the company earned revenue of $54.15 million and had a GAAP net loss of $20.59 million.

Based on the recent corporate insider activity of 95 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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