Sumo Logic Inc (SUMO) stock faced fluctuation on Wednesday?

Sumo Logic Inc. (SUMO) stock plummeting is continuing since yesterday and as of this writing, it has lost 3.00% in Thursday’s pre-market session. SUMO shares lost 1.21% in after-market on Wednesday, June 2, 2021, and closed the day at $18.75 per share. Earlier in the morning session, SUMO’s stock gained 0.85% to close Wednesday’s normal trading session at $18.98. SUMO shares have moved up by 2.21% in the past week. Over the past three months, the stock has lost 32.89%, while over the past six months, it has declined 27.56%.

Let’s discuss its recent news and developments.

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Upcomingfirst quarter fiscal 2022 earnings announcement

Sumo Logic is going to announce its financial results for the first quarter ended April 30, 2021, after market close on Thursday, June 3, 2021. 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.

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Sumo Logic acquiring Sensu

On June 02, 2021, Sumo Logic entered into an agreement to acquire Sensu, Inc to fast-track Sumo Logic’s observability strategy by providing customers with an affordable, extensible, and scalable end-to-end solution for infrastructure and application monitoring.

Sumo Logic and AWS collaboration

On June 01, 2021, Sumo Logic announced the availability of a new multi-cloud and hybrid threat protection offering powered by Amazon Web Services, Inc. (AWS).

Sumo Logic Cloud SIEM Powered by AWS, is built on the Sumo Logic Continuous Intelligence Platform. The new solution is available in AWS Marketplace and provides deep insights to eliminate security blind spots.

Completes acquisition of DFLabs

On May 25, 2021, Sumo Logic completed the acquisition of DF Labs S.p.A., The combination of Sumo Logic’s Cloud SIEM built on the Continuous Intelligence Platform™ and DFLabs will provide customers of varying sizes and maturities with comprehensive cloud-native security intelligence solutions.

Participation in the investor conference

Sumo logic recently participated in the J.P. Morgan Global Technology, Media, and Communications Conference which was held on Monday, May 24, 2021.

Sumo Organizations revealed by Sumo Logic

On May 05, 2021, Sumo Logic announced Sumo Organizations, which is a new multi-account management solution that enables managed service providers (MSPs), managed security service providers (MSSPs) and managed detection and response (MDRs) providers to increase visibility and control of observability and security intelligence across their managed operations, departments and teams.

Fourth Quarter Fiscal 2021 Financial Results

On March 10, 2021, Sumo Logic announced its financial results for the fourth quarter and fiscal year 2021, which ended January 31, 2021.

Q4 2021 financial highlights

  • In Q4 2021, revenue was $54.2 million compared to $44.3 million in Q4 2020
  • gross profit was $39.8 million in Q4 2021 compared to $28.9 million in Q4 2020.
  • GAAP operating loss was $19.6 million in Q4 2021 compared to $34.3 million in Q4 2020
  • GAAP net loss was $20.6 million or $0.20 per share in Q4 2021 compared to a $34.5 net loss or $1.95 per share in Q4 2020.
  • On January 31, 2021, the company had cash and cash equivalents of $404.1 million.

Conclusion

There was no reason behind its price fluctuation on Wednesday and today company is going to announce its financial results so SUMO stock can either go up or down depending on its financial performance.

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