-$0.17 Earnings Per Share Expected for Sumo Logic, Inc. (NASDAQ:SUMO) This Quarter

Equities research analysts forecast that Sumo Logic, Inc. (NASDAQ:SUMO) will post ($0.17) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Sumo Logic’s earnings. The highest EPS estimate is ($0.15) and the lowest is ($0.17). Sumo Logic reported earnings of ($0.07) per share in the same quarter last year, which would indicate a negative year over year growth rate of 142.9%. The business is expected to report its next quarterly earnings results on Wednesday, March 9th.

According to Zacks, analysts expect that Sumo Logic will report full-year earnings of ($0.50) per share for the current year, with EPS estimates ranging from ($0.51) to ($0.48). For the next year, analysts expect that the company will post earnings of ($0.49) per share, with EPS estimates ranging from ($0.58) to ($0.43). Zacks’ EPS averages are an average based on a survey of research firms that cover Sumo Logic.

Sumo Logic (NASDAQ:SUMO) last posted its earnings results on Sunday, December 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.02. The company had revenue of $62.02 million during the quarter, compared to analyst estimates of $60.85 million. Sumo Logic had a negative return on equity of 22.07% and a negative net margin of 48.16%. The company’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.40) EPS.

A number of equities analysts have weighed in on SUMO shares. Morgan Stanley reduced their price target on Sumo Logic from $22.00 to $20.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 7th. 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 research note on Tuesday, December 7th. Piper Sandler lowered their price objective on Sumo Logic from $16.00 to $15.00 in a research report on Thursday, January 6th. Jefferies Financial Group lowered their price objective on Sumo Logic from $16.00 to $14.00 and set a “hold” rating on the stock in a research report on Thursday, January 6th. Finally, 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 report on Saturday, December 11th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Sumo Logic has a consensus rating of “Hold” and an average target price of $21.00.

Shares of SUMO opened at $11.87 on Monday. Sumo Logic has a 52-week low of $11.41 and a 52-week high of $46.37. The stock has a 50 day simple moving average of $14.26 and a 200 day simple moving average of $17.38.

In other Sumo Logic news, CRO Steven D. Fitz sold 7,369 shares of the business’s stock in a transaction on Tuesday, December 21st. The stock was sold at an average price of $13.80, for a total value of $101,692.20. The sale was disclosed in a document filed with the SEC, which can be accessed 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. In the last ninety days, insiders have sold 137,778 shares of company stock worth $2,063,081. 9.40% of the stock is owned by insiders.

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

About Sumo Logic

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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