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. The company offers a suite of solutions to address areas, such as operational intelligence, security intelligence, business intelligence, and global intelligence. Sumo Logic, Inc. was incorporated in 2010 and is headquartered in Redwood City, California.
IPO Year: 2020
Exchange: NASDAQ
Website: sumologic.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 3/9/2022 | $27.00 → $21.00 | Buy | Rosenblatt |
| 3/9/2022 | $19.00 → $17.00 | Outperform | RBC Capital |
| 3/9/2022 | $15.00 → $12.50 | Neutral | Piper Sandler |
| 2/23/2022 | $20.00 → $15.00 | Equal-Weight | Morgan Stanley |
| 12/10/2021 | $16.00 | Buy → Hold | Berenberg |
| 12/7/2021 | $35.00 → $27.00 | Buy | Rosenblatt |
| 12/7/2021 | $22.00 → $20.00 | Equal-Weight | Morgan Stanley |
| 12/7/2021 | $25.00 → $22.00 | Outperform | RBC Capital |
| 9/10/2021 | Buy → Neutral | BTIG | |
| 9/10/2021 | $24.00 → $20.00 | Overweight → Neutral | Piper Sandler |
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REDWOOD CITY, Calif., Nov. 07, 2022 (GLOBE NEWSWIRE) -- Sumo Logic (NASDAQ:SUMO), the SaaS analytics platform to enable reliable and secure cloud-native applications, today announced the appointment of Timothy Youngblood to its board of directors. Tim's extensive cyber-industry expertise, deep understanding of the challenges faced by fellow CISOs, and operational experience will be helpful as the company further develops its cybersecurity product strategy and business, expands its risk and compliance initiatives, and further scales its strong cybersecurity culture and organizational processes. "Delivering secure and reliable digital experiences is the new benchmark for every well-run mode
CloudBees, the leading software delivery platform for enterprises, today announced the appointment of Lynne Doherty, president of worldwide field operations at Sumo Logic (NASDAQ:SUMO), to its board of directors. "We are pleased to welcome Lynne as a new board member at CloudBees," said Anuj Kapur, president and CEO, CloudBees. "We look forward to working with her to advance our mission, drive our strategy forward, and bring increased value to our enterprise customers." Doherty brings to the board more than 20 years of experience leading sales organizations and driving positive business outcomes for customers, including in her current role in which she is responsible for driving revenue i
REDWOOD CITY, Calif., June 01, 2022 (GLOBE NEWSWIRE) -- Sumo Logic (NASDAQ:SUMO), the SaaS analytics platform to enable reliable and secure cloud-native applications, today announced the appointment of four new senior leaders. This team is poised to help drive focus and ensure efficient global growth as Sumo Logic helps companies of all sizes with digital transformation, cloud migration, and security modernization initiatives. Sumo Logic welcomes: Zakir Ahmed, Managing Director of APAC and International Market StrategySteve Doyle, SVP of Global Sales Strategy and OperationsTimm Hoyt, SVP of Global Channels and AlliancesRussell Rosa, SVP of America Sales Lynne Doherty, President of World
REDWOOD CITY, Calif., May 03, 2022 (GLOBE NEWSWIRE) -- Sumo Logic (NASDAQ:SUMO), the SaaS analytics platform to enable reliable and secure cloud-native applications, today announced that it has appointed John D. Harkey, Jr. to its Board of Directors, effective immediately. With this addition, the Sumo Logic Board will consist of ten directors, eight of whom are independent. The appointment of Mr. Harkey is part of a mutual cooperation agreement ("the agreement") with Scalar Gauge Fund, L.P. ("Scalar Gauge"). Additionally, Sumo Logic has agreed with Scalar Gauge to collaborate on an ongoing process aimed at identifying and appointing an additional director. "We are looking forward to
REDWOOD CITY, Calif., May 02, 2022 (GLOBE NEWSWIRE) -- Sumo Logic, (NASDAQ:SUMO), the SaaS analytics platform to enable reliable and secure cloud-native applications, today announced the appointment of Tej Redkar to the newly formed position of Chief Product Officer and Sophie Kitson as Chief Human Resources Officer, effective immediately. Tej and Sophie bring deep experience globally scaling product development and human resource functions respectively and will report directly to Sumo Logic CEO Ramin Sayar as members of the company's senior executive team. "As every company increasingly embraces a digital-first strategy, the market opportunity for Sumo Logic only grows," said Ramin S
REDWOOD CITY, Calif., Dec. 06, 2021 (GLOBE NEWSWIRE) -- Sumo Logic (NASDAQ:SUMO), the pioneer in continuous intelligence, today announced the appointment of Stewart Grierson as Chief Financial Officer, effective Dec. 13, 2021. As a member of the company's senior executive team, Stewart will focus on operational efficiency, financial management, and investor relations to drive Sumo Logic's long-term growth. "As every company increasingly embraces a digital-first strategy, Sumo Logic is strongly positioned as a real-time data analytics leader that can help them build, run and secure their digital applications and multi-cloud infrastructure," said Ramin Sayar, president and CEO, Sumo Logic.
REDWOOD CITY, Calif., Nov. 01, 2021 (GLOBE NEWSWIRE) -- Sumo Logic, (NASDAQ:SUMO), the pioneer in continuous intelligence, today announced the appointment of Lynne Doherty to the newly formed role of President, Worldwide Field Operations, effective immediately. "As every company increasingly embraces a digital-first strategy, Sumo Logic is strongly positioned as a real-time data analytics leader that can help them build, run and secure their digital applications and multi-cloud infrastructure," said Ramin Sayar, president and CEO, Sumo Logic. "I'm thrilled to have Lynne join Sumo Logic, and am excited to partner with her to capture the large and growing market opportunity in front of us.
REDWOOD CITY, Calif., Sept. 09, 2021 (GLOBE NEWSWIRE) -- Sumo Logic, (NASDAQ:SUMO), the pioneer in continuous intelligence, today announced the appointment of Margaret Francis to its board of directors as an independent board member to help the Company further serve the burgeoning DevSecOps market opportunity. "Over the last several years we have made a number of investments to further expand our DevSecOps platform strategy and increase our relevance with the teams that are driving digital transformation within their organizations," said Ramin Sayar, president and CEO, Sumo Logic. "Margaret brings a deep and unique perspective to product strategy, taking a developer-first, end-user approa
REDWOOD CITY, Calif., July 12, 2021 (GLOBE NEWSWIRE) -- Sumo Logic (NASDAQ:SUMO), the pioneer in continuous intelligence, today announced its Cloud SIEM solution is now available in Tokyo to help organizations modernize their security operations center (SOC) by fusing analytics and automation to cut through the noise of alert fatigue and provide analysts with automated insights to see the real, priority threats that require immediate attention. The company also announced the appointment of Hiroaki Kawamura, as the new country manager for Sumo Logic Japan K.K., to help further scale growth and leadership in the region. Sumo Logic provides a comprehensive approach to quickly uncover activ
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SEOUL, South Korea, May 30, 2023 (GLOBE NEWSWIRE) -- Sumo Logic, the SaaS analytics platform to enable reliable and secure cloud-native applications, today announced it is delivering advanced log analytics for Samsung Electronics' Bixby, the deep-learning-based, artificial intelligence (AI) assistant. The Bixby Development Group, which manages Bixby, can now access insightful results, audit logs, detect and alert for anomalies, and tackle fundamental problems in hours instead of weeks before features are pushed to customers. The Bixby Development Group collects an average of 35TB of logs each day to monitor the quality of service, debug issues and detect potential issues that may impact c
REDWOOD CITY, Calif., May 15, 2023 (GLOBE NEWSWIRE) -- Sumo Logic, the SaaS analytics platform to enable reliable and secure cloud-native applications, today announced that Joe Kim has been appointed President and Chief Executive Officer, effective immediately. Mr. Kim succeeds Ramin Sayar, who is stepping down after leading Sumo Logic over the past eight and half years and now through its successful acquisition by Francisco Partners. Mr. Kim is a seasoned technology executive with more than two decades of operating executive experience in application, infrastructure, and security industries. Most recently, Mr. Kim served as a Senior Operating Partner for Francisco Partners Consulting (FP
REDWOOD CITY, Calif., May 12, 2023 (GLOBE NEWSWIRE) -- Sumo Logic, the SaaS analytics platform to enable reliable and secure cloud-native applications, today announced that Francisco Partners, a leading global investment firm that specializes in partnering with technology businesses, has completed its acquisition of the company. Pursuant to the terms of the definitive agreement announced on February 9, 2023, Francisco Partners has acquired all outstanding shares of Sumo Logic common stock for $12.05 per share in cash, valuing the company at an aggregate equity valuation of approximately $1.7 billion. As a result of the completion of the transaction, Sumo Logic's common stock has ceased tr
Applies detection logic to behavior modeling with UEBACloud SOAR features added to Cloud SIEM power new Automation ServiceML-powered detection lowers false positives with Cloud SIEM Insight Trainer; introduces integration of ChatGPT to accelerate security investigations SAN FRANCISCO, April 25, 2023 (GLOBE NEWSWIRE) -- RSA Conference -- Sumo Logic (NASDAQ:SUMO), the SaaS analytics platform to enable reliable and secure cloud-native applications, today announced several native innovations across the Sumo Logic platform to give security analysts better visibility to solve new use cases and enable coordinated defense. "Siloed tools and teams are a major barrier to scaling security operation
New partnership provides Critical Start and Sumo Logic customers with valuable insights to help manage their SIEM and detect and respond to threats more efficiently and effectively PLANO, Texas, April 18, 2023 /PRNewswire/ -- Today, Critical Start, a leading provider of Managed Detection and Response (MDR) cybersecurity solutions, announced the expansion of its Security Services for SIEM (Security Information and Event Management) through a new partnership with Sumo Logic. With this partnership, Critical Start provides Sumo Logic customers the ability to reach the full operating potential of their SIEM investment for threat detection and response through improved configuration and the actio
AMSTERDAM, April 18, 2023 (GLOBE NEWSWIRE) -- KubeCon + CloudNativeCon Europe 2023 -- Sumo Logic (NASDAQ:SUMO), the SaaS analytics platform to enable reliable and secure cloud-native applications, today announced Predict for Metrics. When combined with existing capabilities in Sumo Logic, Predict for Metrics provides a comprehensive way to harness observability analytics to better predict variable applications, cloud and infrastructure usage and resource demands. Predict for Metrics is designed to provide better visibility into production issues, system downtime, and uncontrolled cloud costs. Sumo Logic will showcase this functionality at booth S26 during the KubeCon + CloudNativeCon Euro
AMSTERDAM, April 18, 2023 (GLOBE NEWSWIRE) -- KubeCon + CloudNativeCon Europe 2023 – Sumo Logic (NASDAQ:SUMO), the SaaS analytics platform to enable reliable and secure cloud-native applications, today announced it has taken steps to remove complexity from data collection, improved normalization of data, and consolidated collection agents with OpenTelemetry. Sumo Logic was purpose-built to manage and analyze data from any source. Today, Sumo Logic extends that legacy by adopting OpenTelemetry as its de facto collection strategy to remove complexity in the collection and normalization of data. With Sumo Logic Distro for OT, a native OTel solution, customers no longer face vendor lock-in an
REDWOOD CITY, Calif., April 06, 2023 (GLOBE NEWSWIRE) -- Sumo Logic (NASDAQ:SUMO), the SaaS analytics platform to enable reliable and secure cloud-native applications, announced today that it has achieved the Amazon Web Services (AWS) Cloud Operations Competency in the Monitoring and Observability category. As an AWS Cloud Operations Competency Partner, Sumo Logic has demonstrated expertise in helping customers build a strong and scalable foundation for end-to-end Cloud Operations. With the right model for operating at cloud scale, organizations can balance needs for security, compliance, and operational safety with the responsibility to boost innovation, speed, and agility. Securing the
REDWOOD CITY, Calif., March 30, 2023 (GLOBE NEWSWIRE) -- Sumo Logic (NASDAQ:SUMO), the SaaS analytics platform to enable reliable and secure cloud-native applications, today announced its activities at RSA Conference 2023 and at Moscone Center in the North Hall, Booth #5151. Company executives, thought leaders and security and observability experts will discuss how Sumo Logic is delivering the right insights and innovation to protect against modern threats. Sumo Logic will be hosting a live presentation, speaker session and panel event at RSAC: RSA Live Session – Intruders from Outer Space: Rethinking Threats in Cloud-Native Environments: Sumo Logic will showcase how organizations ca
Fourth quarter revenue grew 19% year over year to $79.8 millionFull year fiscal 2023 revenue grew 24% year over year to $300.7 millionFull year fiscal 2023 ARR grew 17% year over year to $301.6 million REDWOOD CITY, Calif., March 07, 2023 (GLOBE NEWSWIRE) -- Sumo Logic (NASDAQ:SUMO), the SaaS analytics platform to enable reliable and secure cloud-native applications, today announced financial results for the fourth quarter and fiscal year 2023 ended January 31, 2023. Fourth Quarter Fiscal 2023 Financial Highlights Revenue was $79.8 million, an increase of 19% year over yearGAAP gross margin was 72%; non-GAAP gross margin was 75%GAAP operating loss was $28.1 million; GAAP operating margi
Rosenblatt reiterated coverage of Sumo Logic with a rating of Buy and set a new price target of $21.00 from $27.00 previously
RBC Capital reiterated coverage of Sumo Logic with a rating of Outperform and set a new price target of $17.00 from $19.00 previously
Piper Sandler reiterated coverage of Sumo Logic with a rating of Neutral and set a new price target of $12.50 from $15.00 previously
Morgan Stanley reiterated coverage of Sumo Logic with a rating of Equal-Weight and set a new price target of $15.00 from $20.00 previously
Berenberg downgraded Sumo Logic from Buy to Hold and set a new price target of $16.00
Rosenblatt reiterated coverage of Sumo Logic with a rating of Buy and set a new price target of $27.00 from $35.00 previously
Morgan Stanley reiterated coverage of Sumo Logic with a rating of Equal-Weight and set a new price target of $20.00 from $22.00 previously
RBC Capital reiterated coverage of Sumo Logic with a rating of Outperform and set a new price target of $22.00 from $25.00 previously
BTIG downgraded Sumo Logic from Buy to Neutral
Piper Sandler downgraded Sumo Logic from Overweight to Neutral and set a new price target of $20.00 from $24.00 previously
Fourth quarter revenue grew 19% year over year to $79.8 millionFull year fiscal 2023 revenue grew 24% year over year to $300.7 millionFull year fiscal 2023 ARR grew 17% year over year to $301.6 million REDWOOD CITY, Calif., March 07, 2023 (GLOBE NEWSWIRE) -- Sumo Logic (NASDAQ:SUMO), the SaaS analytics platform to enable reliable and secure cloud-native applications, today announced financial results for the fourth quarter and fiscal year 2023 ended January 31, 2023. Fourth Quarter Fiscal 2023 Financial Highlights Revenue was $79.8 million, an increase of 19% year over yearGAAP gross margin was 72%; non-GAAP gross margin was 75%GAAP operating loss was $28.1 million; GAAP operating margi
Third quarter revenue grew 27% year over year to $79.0 millionThird quarter ARR grew 22% year over year to $298.9 million REDWOOD CITY, Calif., Dec. 05, 2022 (GLOBE NEWSWIRE) -- Sumo Logic (NASDAQ:SUMO), the SaaS analytics platform to enable reliable and secure cloud-native applications, today announced financial results for the third quarter of its fiscal 2023 ended October 31, 2022. "We delivered revenue growth of 27% year-over-year in the third quarter while also driving better operating efficiencies, and will continue to emphasize efficient growth as we drive towards future cash flow break even and profitability," said Ramin Sayar, President and CE
REDWOOD CITY, Calif., Nov. 10, 2022 (GLOBE NEWSWIRE) -- Sumo Logic (NASDAQ:SUMO), the SaaS analytics platform to enable reliable and secure cloud-native applications, today announced that it will report financial results for the third quarter ended October 31, 2022 after market close on Monday, December 5, 2022. The company will host a conference call on the same day beginning at 1:30 PM Pacific Time (4:30 PM Eastern Time) to discuss financial results and business highlights. To access the conference call, dial (877) 407-0784 from the United States or (201) 689-8560 internationally and reference the company name and conference title. Following the completion of the call, a replay will be
Second quarter revenue grew 26% year over year to $74.1 millionSecond quarter ARR grew 25% year over year to $286.2 million REDWOOD CITY, Calif., Aug. 25, 2022 (GLOBE NEWSWIRE) -- Sumo Logic (NASDAQ:SUMO), the SaaS analytics platform to enable reliable and secure cloud-native applications, today announced financial results for the second quarter of its fiscal 2023 ended July 31, 2022. "We continued to deliver improved revenue growth in the second quarter with year-over-year growth of 26% while also driving better operating efficiencies," said Ramin Sayar, President and CEO of Sumo Logic. "We remain positive on the long term trends driving our business as companies continue to focus on de
REDWOOD CITY, Calif., Aug. 05, 2022 (GLOBE NEWSWIRE) -- Sumo Logic (NASDAQ:SUMO), the SaaS analytics platform to enable reliable and secure cloud-native applications, today announced that it will report financial results for the second quarter ended July 31, 2022 after market close on Thursday, August 25, 2022. The company will host a conference call on the same day beginning at 1:30 PM Pacific Time (4:30PM Eastern Time) to discuss financial results and business highlights. To access the conference call, dial (877) 407-0784 from the United States or (201) 689-8560 internationally and reference the company name and conference title. Following the completion of the call, a replay will b
First quarter revenue grew 25% year-over-year to $67.9 millionFirst quarter ARR grew 27% year-over-year to $273.3 million REDWOOD CITY, Calif., May 26, 2022 (GLOBE NEWSWIRE) -- Sumo Logic (NASDAQ:SUMO), the SaaS analytics platform to enable reliable and secure cloud-native applications, today announced financial results for the first quarter of its fiscal 2023 ended April 30, 2022. "We started our fiscal year strong as we delivered 25% revenue growth in the first quarter. Escalating security threats are driving a healthy demand environment, and we remain well positioned with a unified platform that delivers both observability and security," said Ramin Sayar, President and CEO of Sumo Log
REDWOOD CITY, Calif., May 10, 2022 (GLOBE NEWSWIRE) -- Sumo Logic (NASDAQ:SUMO), the SaaS analytics platform to enable reliable and secure cloud-native applications, today announced that it will report financial results for the first quarter ended April 30, 2022 after market close on Thursday, May 26, 2022. The company will host a conference call on the same day beginning at 1:30 PM Pacific Time (4:30PM Eastern Time) to discuss financial results and business highlights. To access the conference call, dial (877) 407-0784 from the United States or (201) 689-8561 internationally and reference the company name and conference title. Following the completion of the call, a replay will be avai
REDWOOD CITY, Calif., Feb. 11, 2022 (GLOBE NEWSWIRE) -- Sumo Logic (NASDAQ:SUMO) the pioneer in continuous intelligence, today announced that it will report financial results for the fourth quarter and full year ended January 31, 2022 after market close on Tuesday, March 8, 2022. The company will host a conference call on the same day beginning at 1:30 PM Pacific Time (4:30PM Eastern Time) to discuss financial results and business highlights. To access the conference call, dial (877) 407-0784 from the United States or (201) 689-8560 internationally and reference the company name and conference title. Following the completion of the call, a replay will be available for approximately two we
REDWOOD CITY, Calif., Nov. 12, 2021 (GLOBE NEWSWIRE) -- Sumo Logic (NASDAQ:SUMO) the pioneer in continuous intelligence, today announced that it will report financial results for the third quarter ended October 31, 2021 after market close on Monday, December 6, 2021. The company will host a conference call on the same day beginning at 1:30 PM Pacific Time (4:30PM Eastern Time) to discuss financial results and business highlights. To access the conference call, dial (877) 407-0784 from the United States or (201) 689-8560 internationally and reference the company name and conference title. Following the completion of the call, a replay will be available for approximately two weeks. The re
Second quarter revenue grew 19% year-over-year to $58.8 millionNamed a Visionary in the 2021 Gartner Magic Quadrant for Security Information and Event Management (SIEM) REDWOOD CITY, Calif., Sept. 09, 2021 (GLOBE NEWSWIRE) -- Sumo Logic (NASDAQ:SUMO), a pioneer of continuous intelligence, today announced financial results for the second quarter of its fiscal 2022, ended July 31, 2021. "This quarter we saw continued momentum in our business as new and current customers adopt our Continuous Intelligence platform for a broad range of Observability and Security use cases," said Ramin Sayar, president and CEO of Sumo Logic. "We will continue to invest in platform expansion and expanded rout
Sumo Logic, the SaaS analytics platform to enable reliable and secure cloud-native applications, today announced that Joe Kim has been appointed President and Chief Executive Officer, effective immediately. Mr. Kim succeeds Ramin Sayar, who is stepping down after leading Sumo Logic over the past eight and half years and now through its successful acquisition by Francisco Partners. Mr. Kim is a seasoned technology executive with more than two decades of operating executive experience in application, infrastructure, and security industries. Most recently, Mr. Kim served as a Senior Operating Partner for Francisco Partners Consulting (FPC), assisting in deal thesis, assessing product-market-
Sumo Logic (NASDAQ:SUMO) reported quarterly losses of $(0.03) per share which beat the analyst consensus estimate of $(0.09) by 66.67 percent. This is a 76.92 percent increase over losses of $(0.13) per share from the same period last year. The company reported quarterly sales of $79.80 million which missed the analyst consensus estimate of $80.20 million by 0.50 percent. This is a 19.02 percent increase over sales of $67.05 million the same period last year.
Upgrades According to Dawson James, the prior rating for Arcimoto Inc (NASDAQ:FUV) was changed from Sell to Neutral. For the third quarter, Arcimoto had an EPS of $0.38, compared to year-ago quarter EPS of $0.31. The current stock performance of Arcimoto shows a 52-week-high of $156.40 and a 52-week-low of $1.88. Moreover, at the end of the last trading period, the closing price was at $2.07. According to UBS, the prior rating for Angi Inc (NASDAQ:ANGI) was changed from Sell to Neutral. Angi earned $0.06 in the fourth quarter, compared to $0.05 in the year-ago quarter. At the moment, the stock has a 52-week-high of $8.90 and a 52-week-low of $1.81. Angi closed at $2.44 at the end of the l
Cowen & Co. analyst Derrick Wood downgrades Sumo Logic (NASDAQ:SUMO) from Outperform to Market Perform.
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Sumo Logic (NASDAQ:SUMO) has observed the following analyst ratings within the last quarter: Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 0 0 5 0 0 Last 30D 0 0 1 0 0 1M Ago 0 0 1 0 0 2M Ago 0 0 1 0 0 3M Ago 0 0 2 0 0 These 5 analysts have an average price target of $10.8 versus the current price of Sumo Logic at $11.9, implying downside. Below is a summary of how these 5 analysts rated Sumo Logic over the past 3 months. The greater the number of bullish ratings, the more positive analysts are on the stock and the greater the number of bearish ratings, the more negative analysts are on the stock This average price target has increased by
RBC Capital analyst Matthew Hedberg downgrades Sumo Logic (NASDAQ:SUMO) from Outperform to Sector Perform and announces $12 price target.