J.P. Morgan analyst Pinjalim Bora maintained a Hold rating on Sumo Logic (SUMO – Research Report) today and set a price target of $10.00. The company’s shares closed yesterday at $7.83.
According to TipRanks, Bora is an analyst with an average return of -2.5% and a 41.86% success rate. Bora covers the Technology sector, focusing on stocks such as Gitlab, Pegasystems, and Elastic.
In addition to J.P. Morgan, Sumo Logic also received a Hold from BTIG’s Gray Powell in a report issued yesterday. However, on the same day, Rosenblatt Securities maintained a Buy rating on Sumo Logic (NASDAQ: SUMO).
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Based on Sumo Logic’s latest earnings release for the quarter ending July 31, the company reported a quarterly revenue of $74.11 million and a GAAP net loss of $35.88 million. In comparison, last year the company earned a revenue of $58.84 million and had a GAAP net loss of $32.05 million
Based on the recent corporate insider activity of 75 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SUMO in relation to earlier this year. Earlier this month, Chettiar Suku Krishnaraj, the CMO of SUMO sold 15,677.00 shares for a total of $134,195.12.
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Sumo Logic Inc is a software company. The company develops software, which enables organizations of all sizes to address the challenges and opportunities presented by digital transformation, modern applications, and cloud computing. The software platform enables organizations to automate the collection, ingestion, and analysis of application, infrastructure, security, and IoT data. The solutions provided are Operations Intelligence, Security Intelligence, and Business Intelligence.
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