In a report released on January 9, Matthew Hedberg from RBC Capital maintained a Buy rating on Sumo Logic (SUMO – Research Report), with a price target of $12.00. The company’s shares closed yesterday at $7.60.
Hedberg covers the Technology sector, focusing on stocks such as PTC, Okta, and Elastic. According to TipRanks, Hedberg has an average return of -4.4% and a 36.62% success rate on recommended stocks.
Currently, the analyst consensus on Sumo Logic is a Moderate Buy with an average price target of $13.33.
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SUMO market cap is currently $908.5M and has a P/E ratio of -6.69.
Based on the recent corporate insider activity of 57 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SUMO in relation to earlier this year.
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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.
Read More on SUMO:
- Sumo Logic Announces Upcoming Conference Participation
- Sumo Logic Recognized by Leading Independent Research Firm as a Strong Performer in Security Analytics Platforms Evaluation
- Sumo Logic announces availability of Cloud SOAR in AWS Tokyo region
- Sumo Logic Soars on Q3 Showing
- Sumo Logic sees FY23 EPS (36c)-(35c), consensus (55c)
