Is Now a Good Time to Buy Stock in Recent IPO Sumo Logic?
Following its initial public offering (IPO) on Thursday, Sumo Logic (NASDAQ: SUMO) grabbed much less attention than another IPO phenomenon debuting the day before, Snowflake. Yet Sumo Logic, a data monitoring and analytics specialist, has been generating strong revenue growth over the last several years thanks to its cloud-native disruptive solutions that address vast markets.
Should you consider buying Sumo Logic stock, which is currently trading slightly below its IPO price?
Over the last decade, enterprises have been moving some of their infrastructure and applications from their data centers to the cloud to be able to quickly scale computing resources as needed. But these companies still need to monitor those cloud-based resources to prevent and troubleshoot issues.
Source Fool.com
