Sumo Logic (NASDAQ:SUMO) issued an update on its third quarter 2022 earnings guidance on Thursday morning. The company provided earnings per share guidance of $-0.140-$-0.140 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $-0.150. The company issued revenue guidance of $60.30 million-$61.30 million, compared to the consensus revenue estimate of $60.05 million.Sumo Logic also updated its FY 2022 guidance to $-0.520-$-0.510 EPS.
NASDAQ:SUMO traded up $0.16 during mid-day trading on Friday, hitting $18.80. 18,378 shares of the company’s stock were exchanged, compared to its average volume of 1,371,325. Sumo Logic has a one year low of $15.80 and a one year high of $46.37. The business has a fifty day moving average price of $20.33 and a 200 day moving average price of $20.25. The company has a market cap of $2.07 billion and a PE ratio of -15.65.
Sumo Logic (NASDAQ:SUMO) last issued its earnings results on Wednesday, September 8th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.03. The firm had revenue of $58.80 million for the quarter, compared to the consensus estimate 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. Equities analysts predict that Sumo Logic will post -1.11 earnings per share for the current fiscal year.
In other news, CEO Ramin Sayar sold 100,300 shares of the firm’s stock in a transaction on Monday, June 21st. The stock was sold at an average price of $21.80, for a total value of $2,186,540.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christian Beedgen sold 23,500 shares of Sumo Logic stock in a transaction dated Wednesday, August 18th. The stock was sold at an average price of $19.45, for a total value of $457,075.00. The disclosure for this sale can be found here. Insiders have sold 190,467 shares of company stock worth $4,067,174 over the last 90 days. Insiders own 9.40% of the company’s stock.
Sumo Logic Company Profile
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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