Is it Right Time Pull the Trigger on Sumo Logic Inc. [SUMO] Stock?

Sumo Logic Inc. [SUMO] stock is down -18.10 while the S&P 500 has fallen -0.19% on Monday, 12/07/20. While at the time of this article, SUMO ATR is sitting at 2.16. This stock’s volatility for the past week remained at 13.37%, while it was 8.65% for the past 30-day period. SUMO has fallen -$5.45 from the previous closing price of $30.11 on volume of 8.49 million shares.

On 7, December 2020, Sumo Logic Inc to Host Earnings Call. According to news published on Yahoo Finance, NEW YORK, NY / ACCESSWIRE / December 7, 2020 / Sumo Logic Inc (NASDAQ:SUMO) will be discussing their earnings results in their 2021 Third Quarter Earnings call to be held on December 7, 2020 at 4:30 PM Eastern Time.

Analyst Birdseye View:

The most recent analyst activity for Sumo Logic Inc. [NASDAQ:SUMO] stock was on October 12, 2020, when it was Initiated with an Outperform rating from RBC Capital Mkts, which also raised its 12-month price target on the stock to $30. On October 12, 2020, Piper Sandler Initiated an Overweight rating and boosted its price target on this stock to $31. On October 12, 2020, Morgan Stanley Initiated an Equal-weight rating and increased its price target to $26. On October 12, 2020, JP Morgan Initiated a Neutral rating. On October 12, 2020, Jefferies Initiated a Hold rating and boosted its amount on this stock to $27. On October 12, 2020, Cowen Initiated an Outperform rating and boosted its target amount on this stock to $31. On the same date BTIG Research Initiated a Buy rating and elevated its amount target to $29.

In the past 52 weeks of trading, this stock has oscillated between a low of $16.71 and a peak of $30.29. Right now, the middling Wall Street analyst 12-month amount mark is $28.50. At the most recent market close, shares of Sumo Logic Inc. [NASDAQ:SUMO] were valued at $24.66. According to the average price forecast, investors can expect a potential return of 1.75%.

FUNDAMENTAL ANALYSIS

Sumo Logic Inc. [NASDAQ:SUMO] most recently reported quarterly sales of 49.41 billion, which represented growth of 30.70%. This company’s Gross Margin is currently 69.60%, its Operating Margin is -54.40%, its Pretax Margin is -58.84, and its Net Margin is -59.42. Continuing to look at profitability, this corporation’s Return on Assets, Equity, Whole Principal & invested Principal is sitting at -52.45, -121.85, -110.31 and -121.85 respectively.

Readers are usually of view to make a close observation to the indicators that support and make resistance before moving to any particular stock. As of now, the company’s stock is sitting at 21.79 points at 1st support level, the second support level is making up to 18.93. But as of 1st resistance point, this stock is sitting at 29.98 and at 35.31 for 2nd resistance point.

Sumo Logic Inc. [SUMO] reported its earnings at -$0.06 per share in the fiscal quarter closing of 10/30/2020. The Analysts for Wall Street were expecting to report its earnings at -$0.24/share signifying the difference of 0.18 and 75.00% surprise value.

Important Ratio’s To Watch

Meanwhile, turning our focus to liquidity, the Current Ratio for Sumo Logic Inc. [NASDAQ:SUMO] is 1.30. Likewise, the Quick ratio is also the same, showing Cash ratio at 0.91.