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How to buy Sumo Logic stock (SUMO)

Its revenue is on an upward trajectory — as are its losses.

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Sumo Logic stock is now available to purchase on the Nasdaq Global Select Market (NASDAQ). Here’s how you can buy in.

How to buy shares in Sumo Logic

Here’s what to expect of the Sumo Logic investment process:

  • Compare share trading platforms. If you’re a beginner, look for a platform with low commissions, expert ratings and investment tools to track your portfolio. Narrow down top brands with our comparison table.
  • Open and fund your brokerage account. Complete an application with your personal and financial details, like your ID and bank information. Fund your account with a bank transfer, credit card or debit card.
  • Search for Sumo Logic. Find the stock by name or ticker symbol: SUMO. Research its history to confirm it’s a solid investment against your financial goals.
  • Purchase now or later. Buy today with a market order or use a limit order to delay your purchase until Sumo Logic stock reaches your desired price. To spread out your purchase, look into dollar-cost averaging, which smooths out buying at consistent intervals and amounts.
  • Decide on how many to buy. Weigh your budget against a diversified portfolio that can minimize risk through the market’s ups and downs. You may be able to buy a fractional share of Sumo Logic, depending on your broker.
  • Check in on your investment. Congratulations, you own a part of Sumo Logic. Optimize your portfolio by tracking how your stock — and even the business — performs with an eye on the long term. You may be eligible for dividends and shareholder voting rights on directors and management that can affect your stock.

What we know about Sumo Logic’s IPO

Sumo Logic’s stock launches on September 17 on the Nasdaq Global Select Market under the ticker symbol “SUMO.” It aims to raise $281 million from public shareholders to fund operating expenses and potential acquisitions.

Sumo Logic’s stock launched at $22 per share. The deal was underwritten by Morgan Stanley, J.P. Morgan, RBC Capital Markets and Jefferies.

Now that the stock is available for purchase, interested investors will need a brokerage account to buy in.

What we know about Sumo Logic’s balance sheet

There’s both good news and bad news for investors interested in backing Sumo Logic. The good news is that the company’s revenue is on an upward trajectory. The bad news: so are its losses.

In fiscal 2018, Sumo Logic reported a net loss of $32.4 million on $67.8 million in revenue. In fiscal 2019, it experienced a net loss of $47.7 million on $103.6 million in revenue. And in fiscal 2020, Sumo Logic reported a net loss of $92.1 million on $155 million in revenue.

In the tech sector — and more specifically, the SaaS industry — growth is often pursued over profit. Young companies like Sumo Logic may not be as preoccupied with profitability as it focuses on scaling its operations and acquiring smaller businesses to help extend its reach. That said, Sumo Logic isn’t a profitable company. Its revenue is growing, but so are its losses.

Sumo Logic investment risks

In addition to competitors like Splunk and Datadog, Sumo Logic is also up against the likes of Amazon Web Services, Microsoft Azure and Google Cloud. The tech industry is competitive enough as it is, and Sumo Logic is stepping into the ring with some well-established heavy hitters.

Continuous pricing pressure coupled with the ever-evolving market could potentially harm Sumo Logic’s business. Past performance is no guarantee of future profitability and no investment is risk-free.

Sumo Logic compared

Sumo Logic is a cloud-based data analytics company. It was founded in 2010 and is headquartered in Redwood City, California. It provides continuous business, operational, security and global intelligence through real-time analytics and machine learning.

Sumo Logic isn’t an accredited business with the Better Business Bureau (BBB) but receives an A rating for its length of time in business.

How are similar stocks performing?

For an idea of how the market performs for similar data analytics companies, take a look at the stocks below. But keep in mind that the performance of these competitors isn’t a direct indicator of how Sumo Logic will fare once it goes live.

Select a company to learn more about what they do and how their stock performs, including market capitalization, the price-to-earnings (P/E) ratio, price/earnings-to-growth (PEG) ratio and dividend yield. While this list includes a selection of the most well-known and popular stocks, it doesn't include every stock available.

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Disclaimer: The value of any investment can go up or down depending on news, trends and market conditions. We are not investment advisers, so do your own due diligence to understand the risks before you invest.

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