William Blair analyst Kamil Mielczarek downgraded Sumo Logic (SUMO) to Market Perform from Outperform without a price target after the company entered into a definitive agreement to be acquired by affiliates of Francisco Partners in an all-cash transaction valued at roughly $1.7B, or $12.05 per share. The analyst cites the premium paid by Francisco Partners for the downgrade. The believes there are other takeout opportunities in its coverage, including log management vendors Splunk (SPLK) and Elastic (ESTC), and analytics vendors Alteryx (AYX) and Domo (DOMO).
Published first on TheFly
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