Sumo Logic, Inc. (NASDAQ:SUMO) Expected to Announce Earnings of -$0.14 Per Share

Wall Street analysts forecast that Sumo Logic, Inc. (NASDAQ:SUMO) will report earnings per share (EPS) of ($0.14) for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Sumo Logic’s earnings, with the lowest EPS estimate coming in at ($0.15) and the highest estimate coming in at ($0.14). Sumo Logic reported earnings per share of ($0.06) in the same quarter last year, which suggests a negative year over year growth rate of 133.3%. The business is expected to issue its next earnings results on Monday, December 6th.

On average, analysts expect that Sumo Logic will report full year earnings of ($0.52) per share for the current fiscal year, with EPS estimates ranging from ($0.57) to ($0.51). For the next financial year, analysts anticipate that the business will post earnings of ($0.49) per share, with EPS estimates ranging from ($0.50) to ($0.46). Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that follow Sumo Logic.

Sumo Logic (NASDAQ:SUMO) last announced its quarterly earnings data on Wednesday, September 8th. The company reported ($0.11) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.03. The business had revenue of $58.80 million for the quarter, compared to analyst estimates of $56.68 million. Sumo Logic had a negative net margin of 47.23% and a negative return on equity of 21.35%. The business’s quarterly revenue was up 19.0% on a year-over-year basis.

A number of analysts have recently commented on the stock. BTIG Research lowered shares of Sumo Logic from a “buy” rating to a “neutral” rating in a research report on Friday, September 10th. Rosenblatt Securities dropped their price target on shares of Sumo Logic from $44.00 to $35.00 and set a “buy” rating on the stock in a research report on Friday, June 4th. Morgan Stanley dropped their price target on shares of Sumo Logic from $26.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 25th. Zacks Investment Research lowered shares of Sumo Logic from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Piper Sandler lowered shares of Sumo Logic from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $24.00 to $20.00 in a research report on Friday, September 10th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Sumo Logic currently has an average rating of “Hold” and a consensus price target of $25.00.

Shares of SUMO stock opened at $18.54 on Wednesday. The company’s fifty day simple moving average is $20.25 and its 200-day simple moving average is $20.17. The firm has a market cap of $2.05 billion and a PE ratio of -15.58. Sumo Logic has a 12 month low of $15.80 and a 12 month high of $46.37.

In related news, CEO Ramin Sayar sold 100,300 shares of the company’s stock in a transaction dated Monday, June 21st. The shares were sold at an average price of $21.80, for a total value of $2,186,540.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Katherine Haar sold 1,981 shares of the company’s stock in a transaction dated Wednesday, September 15th. The shares were sold at an average price of $17.92, for a total transaction of $35,499.52. The disclosure for this sale can be found here. Over the last quarter, insiders sold 252,553 shares of company stock worth $5,181,808. Corporate insiders own 9.40% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC bought a new stake in Sumo Logic during the second quarter worth about $43,000. Pinz Capital Management LP bought a new stake in Sumo Logic during the second quarter worth about $114,000. Ameritas Investment Partners Inc. lifted its position in Sumo Logic by 437.1% during the second quarter. Ameritas Investment Partners Inc. now owns 6,397 shares of the company’s stock worth $132,000 after purchasing an additional 5,206 shares during the period. Quadrant Capital Group LLC lifted its holdings in shares of Sumo Logic by 12.0% in the first quarter. Quadrant Capital Group LLC now owns 8,199 shares of the company’s stock worth $155,000 after acquiring an additional 876 shares during the last quarter. Finally, Rehmann Capital Advisory Group bought a new position in shares of Sumo Logic in the first quarter worth about $189,000. 69.73% of the stock is owned by institutional investors and hedge funds.

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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