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Thursday, January 21, 2021

Sumo Logic Inc. (NASDAQ:SUMO) is Waving the Bear Flag

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Sumo Logic Inc. (SUMO) shares are trading at lower $24.66 and the avg recommendation for the stock is Moderate Buy, while the current analyst price target stands at $28.00.

To add more color to this target, the company’s high over the last year is $30.29 and the low is $16.71 while the S&P 500 is up 17.22%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

SUMO booked profit margins of -54.50%. All told, it is clear that, SUMO needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. SUMO has a short ratio of 3.15 and outstanding shares of 85.38M.

Company Outlook

SUMO has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 1.38 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -1.00. Investors should also keep an eye on sector updates as SUMO has historically followed its peers on positive news.

All told, Sumo Logic Inc. SUMO has strung together solid data and demonstrated underlying fundamentals. At its current valuation, SUMO represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Sumo Logic Inc. SUMO is now commanding a market cap of 2.11B and a float of 12.19M. SUMO is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of SUMO stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in SUMO, either long or short, and we have not been compensated for this article.

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