ContextLogic Inc. (NASDAQ: WISH) is -21.44% lower on its value in year-to-date trading and has touched a low of $14.42 and a high of $32.85 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The WISH stock was last observed hovering at around $15.52 in the last trading session, with the day’s loss setting it -1.19% off its average median price target of $25.00 for the next 12 months. It is also 64.18% off the consensus price target high of $40.00 offered by 12 analysts, but current levels are 28.35% higher than the price target low of $20.00 for the same period.
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Currently trading at $14.33, the stock is -15.27% and -33.24% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 6.78 million and changing -7.67% at the moment leaves the stock -33.65% off its SMA200. The firm has a 50-day simple moving average (SMA 50) of $18.55 and a 200-day simple moving average (SMA200) of $21.77.
The stock witnessed a -10.10% in the last 1 month and extending the period to 3 months gives it a -27.63%, and is -5.10% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 6.11% over the week and 7.46% over the month.
ContextLogic Inc. (WISH) has around 875 employees, a market worth around $8.94B and $2.54B in sales. Distance from 52-week low is -0.62% and -56.38% from its 52-week high. The company has generated returns on investments over the last 12 months (-61.60%).
ContextLogic Inc. (WISH) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for ContextLogic Inc. (WISH) is a “Buy”. 12 analysts offering their recommendations for the stock have an average rating of 1.90, where 2 rate it as a Hold and 0 think it is a “Overweight”. 10 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
ContextLogic Inc. is expected to release its quarterly report on 09/01/2021 and quarterly earnings per share for the current quarter are estimated at -$0.18 with sales reaching $743.8M over the same period.The EPS is expected to shrink by -447.80% this year, but quarterly earnings will post 30.50% year-over-year.
ContextLogic Inc. (WISH) Top Institutional Holders
114 institutions hold shares in ContextLogic Inc. (WISH), with 38.3M shares held by insiders accounting for 6.20% while institutional investors hold 97.25% of the company’s shares. The shares outstanding are 586.98M, and float is at 339.21M with Short Float at 4.82%. Institutions hold 91.22% of the Float.
The top institutional shareholder in the company is Galileo (PTC) Ltd with over 103.77 million shares valued at $1.89 billion. The investor’s holdings represent 20.71% of the WISH Shares outstanding. As of Dec 30, 2020, the second largest holder is Formation8 GP, LLC with 63.39 million shares valued at $1.16 billion to account for 12.65% of the shares outstanding. The other top investors are Temasek Holdings (Private) Limited which holds 26.83 million shares representing 5.36% and valued at over $489.47 million, while General Atlantic, LLC holds 3.37% of the shares totaling 16.89 million with a market value of $308.05 million.
ContextLogic Inc. (WISH) Insider Activity
A total of 108 insider transactions have happened at ContextLogic Inc. (WISH) in the last six months, with sales accounting for 54 and purchases happening 54 times. The most recent transaction is an insider sale by Just Brett ,the company’sChief Accounting Officer. SEC filings show that Just Brett sold 10,000 shares of the company’s common stock on Mar 15 at a price of $19.63 per share for a total of $0.2 million. Following the sale, the insider now owns 31757.0 shares.
ContextLogic Inc. disclosed in a document filed with the SEC on Mar 11 that Bahri Rajat (Chief Financial Officer) sold a total of 300,000 shares of the company’s common stock. The trade occurred on Mar 11 and was made at $18.54 per share for $5.56 million. Following the transaction, the insider now directly holds 0.84 million shares of the WISH stock.
Still, SEC filings show that on Mar 11, Chuang Peiyen (Vice President of Operations) disposed off 15,000 shares at an average price of $19.18 for $0.29 million. The insider now directly holds 49,045 shares of ContextLogic Inc. (WISH).