Sumo Logic, Inc. (NASDAQ:SUMO) Expected to Post Quarterly Sales of $64.37 Million

Wall Street brokerages expect that Sumo Logic, Inc. (NASDAQ:SUMO) will post $64.37 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Sumo Logic’s earnings. The lowest sales estimate is $64.20 million and the highest is $64.60 million. Sumo Logic posted sales of $54.15 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 18.9%. The company is expected to issue its next earnings report on Wednesday, March 9th.

According to Zacks, analysts expect that Sumo Logic will report full-year sales of $239.40 million for the current fiscal year, with estimates ranging from $239.19 million to $239.70 million. For the next year, analysts anticipate that the company will post sales of $285.99 million, with estimates ranging from $279.70 million to $291.30 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Sumo Logic.

Sumo Logic (NASDAQ:SUMO) last announced its quarterly earnings data on Sunday, December 5th. The company reported ($0.12) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.02. Sumo Logic had a negative return on equity of 22.07% and a negative net margin of 48.16%. The firm had revenue of $62.02 million during the quarter, compared to analysts’ expectations of $60.85 million. During the same quarter last year, the firm posted ($0.40) earnings per share. The company’s revenue for the quarter was up 19.6% compared to the same quarter last year.

Several research analysts recently issued reports on SUMO shares. Berenberg Bank cut Sumo Logic from a “buy” rating to a “hold” rating and set a $16.00 target price on the stock. in a research report on Friday, December 10th. Zacks Investment Research raised Sumo Logic from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Saturday, December 11th. Morgan Stanley dropped their price target on Sumo Logic from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 7th. Jefferies Financial Group dropped their price target on Sumo Logic from $16.00 to $14.00 and set a “hold” rating on the stock in a report on Thursday, January 6th. Finally, Royal Bank of Canada dropped their price target on Sumo Logic from $25.00 to $22.00 and set an “outperform” rating on the stock in a report on Tuesday, December 7th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $21.00.

In related news, CAO Jennifer Mccord sold 1,948 shares of the business’s stock in a transaction on Thursday, December 16th. The stock was sold at an average price of $14.10, for a total transaction of $27,466.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Christian Beedgen sold 23,500 shares of the business’s stock in a transaction on Wednesday, October 20th. The shares were sold at an average price of $17.27, for a total value of $405,845.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 137,778 shares of company stock worth $2,063,081. Corporate insiders own 9.40% of the company’s stock.

Several large investors have recently added to or reduced their stakes in SUMO. Vanguard Group Inc. raised its stake in shares of Sumo Logic by 279.6% during the 2nd quarter. Vanguard Group Inc. now owns 6,570,450 shares of the company’s stock valued at $135,681,000 after purchasing an additional 4,839,554 shares during the period. BlackRock Inc. grew its position in Sumo Logic by 282.5% during the second quarter. BlackRock Inc. now owns 4,559,049 shares of the company’s stock worth $94,144,000 after buying an additional 3,367,076 shares in the last quarter. Champlain Investment Partners LLC grew its position in Sumo Logic by 900.7% during the second quarter. Champlain Investment Partners LLC now owns 3,160,240 shares of the company’s stock worth $65,259,000 after buying an additional 2,844,440 shares in the last quarter. Legal & General Group Plc grew its position in Sumo Logic by 96,925.4% during the second quarter. Legal & General Group Plc now owns 1,446,649 shares of the company’s stock worth $29,873,000 after buying an additional 1,445,158 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC grew its position in Sumo Logic by 112.1% during the second quarter. ArrowMark Colorado Holdings LLC now owns 2,574,267 shares of the company’s stock worth $53,159,000 after buying an additional 1,360,339 shares in the last quarter. Institutional investors own 67.87% of the company’s stock.

Shares of NASDAQ:SUMO opened at $11.87 on Wednesday. Sumo Logic has a 12-month low of $11.41 and a 12-month high of $46.37. The business’s 50 day moving average is $14.26 and its 200 day moving average is $17.38.

Sumo Logic Company Profile

Sumo Logic, Inc provides cloud-native software-as-a-service platform that enables organizations to address the challenges and opportunities presented by digital transformation, modern applications, and cloud computing worldwide. Its platform enables organizations to automate the collection, ingestion, and analysis of application, infrastructure, security, and IoT data to derive actionable insights.

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Earnings History and Estimates for Sumo Logic (NASDAQ:SUMO)

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