Stocks of ContextLogic Inc. (NASDAQ:WISH) traded higher last session on Wall Street, down -3.20% to $0.72.
According to the data, ContextLogic Inc. (NASDAQ:WISH) has 4 analysts covering its stock. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $5.70 and a low of $0.50, we find $1.00. Given the previous closing price of $0.75, this indicates a potential upside of 33.33 percent. WISH stock price is now -13.60% away from the 50-day moving average and -54.35% away from the 200-day moving average. The market capitalization of the company currently stands at $424.12M.
A total of 1 analysts have issued a hold rating and 1 have given it a buy rating. Brokers who have rated the stock have averaged $2.40 as their price target over the next twelve months.
With the price target reduced from $4 to $2, Loop Capital Downgraded its rating from Buy to Hold for ContextLogic Inc. (NASDAQ: WISH). On December 02, 2021, UBS Downgraded its previous ‘Buy’ rating to ‘Neutral’ on the stock keeping its target price maintained at $4, while ‘Oppenheimer’ rates the stock as ‘Underperform’.
In other news, Jain Tarun Kumar, Chief Product Officer sold 88,000 shares of the company’s stock on Nov 02. The stock was sold for $65,375 at an average price of $0.74. Upon completion of the transaction, the Chief Product Officer now directly owns 94,729 shares in the company, valued at $68204.88. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 28, 10% Owner Szulczewski Piotr sold 2,726,819 shares of the business’s stock. A total of $1,969,309 was realized by selling the stock at an average price of $0.72. This leaves the insider owning 26,730,644 shares of the company worth $19.25 million. Insiders disposed of 43,012,469 shares of company stock worth roughly $30.97 million over the past 1 year. A total of 4.70% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in WISH stock. A new stake in ContextLogic Inc. shares was purchased by CHIMERA CAPITAL MANAGEMENT LLC during the first quarter worth $637,000. APOLETTO LTD invested $223,000 in shares of WISH during the first quarter. In the first quarter, AQR CAPITAL MANAGEMENT LLC acquired a new stake in ContextLogic Inc. valued at approximately $212,000. ALGERT GLOBAL LLC acquired a new stake in WISH for approximately $178,000. SG AMERICAS SECURITIES, LLC purchased a new stake in WISH valued at around $143,000 in the second quarter. In total, there are 239 active investors with 53.30% ownership of the company’s stock.
Thursday’s opening bell rang with an opening price of $0.7100 for ContextLogic Inc. (NASDAQ: WISH). During the past 12 months, ContextLogic Inc. has had a low of $0.63 and a high of $5.03. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 3.00, and a quick ratio of 3.00. The fifty day moving average price for WISH is $0.8356 and a two-hundred day moving average price translates $1.5815 for the stock.
The latest earnings results from ContextLogic Inc. (NASDAQ: WISH) was released for Jun, 2022. According to the Internet Retail Company, earnings per share came in at -$0.13, beating analysts’ expectations of -$0.16 by 0.03. This compares to -$0.10 EPS in the same period last year. The net profit margin was -29.90% and return on equity was -38.00% for WISH. The company reported revenue of $125.0 million for the quarter, compared to $368.0 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -66.03 percent. For the current quarter, analysts expect WISH to generate $155.99M in revenue.
ContextLogic Inc.(WISH) Company Profile
ContextLogic Inc. operates as a mobile ecommerce company in Europe, North America, South America, and internationally. The company operates Wish, an ecommerce platform that connects users to merchants. It also provides marketplace and logistics services to merchants. The company was incorporated in 2010 and is headquartered in San Francisco, California.