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SUMO - Sumo Logic: Be Patient A Rebound Is Imminent
Sumo Logic Inc.
Sumo Logic recently posted excellent Q1 results, despite the stock having barely reacted to the upside.
Revenue growth accelerated to 25% y/y, while net retention rates also achieved a multi-quarter high.
In spite of the Q1 blowout, Sumo Logic didn’t materially lift its revenue guidance for the year, suggesting that there could be plenty of further room for upside.
At ~2x forward revenue, Sumo Logic remains one of the cheapest stocks in the software sector.