 Piper Sandler analyst Rob Owens downgraded Sumo Logic Inc NASDAQ:SUMO from Overweight to Neutral and lowered the price target from 24 to 20, implying fully priced at the current level. Owens reduced forward expectations for core Sumo revenue for the second time in the past three quarters despite a revenue beat, saying extended North America sales cycles and pressured net retention rates are weighing on results. 