5 Best Small-Cap AI Stocks

3. Sumo Logic, Inc. (NASDAQ:SUMO)

Number of Hedge Fund Holders: 21

Market Cap as of August 21: $938,590,000

Sumo Logic, Inc. (NASDAQ:SUMO) is an application software company providing a cloud-native software-as-a-service platform enabling organizations to address the challenges and opportunities arising out of digital transformation and cloud computing. The company uses applications including operational, security, and business analytics to help IT operations work more effectively by leveraging AI.

Rob Owens at Piper Sandler reiterated a ‘Neutral’ rating on Sumo Logic, Inc. (NASDAQ:SUMO) shares on July 13.

In July, it was reported that Sumo Logic, Inc. (NASDAQ:SUMO) would be integrated with Gigamon’s Gigamon Hawk Deep Observability Pipeline and Gigamon ThreatINSIGHT Network Detection and Response solution. The integration will improve the reliability and security of cloud-native applications, helping the companies to optimize their cloud performance and contain the rising costs of data exchange and storage.

Our hedge fund data for the second quarter shows 21 hedge funds long Sumo Logic, Inc. (NASDAQ:SUMO), with a total stake value of $64 million.