ContextLogic Inc. (NASDAQ: WISH) Has Been Falling -44.05% Year-To-Date. Troubles Yet To Come? – Marketing Sentinel
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ContextLogic Inc. (NASDAQ: WISH) Has Been Falling -44.05% Year-To-Date. Troubles Yet To Come?

During the last session, ContextLogic Inc. (NASDAQ:WISH)’s traded shares were 10.07 million. At the end of the trading day, the stock’s price was $1.74, reflecting an intraday gain of 1.16% or $0.02. The 52-week high for the WISH share is $10.69, that puts it down -514.37 from that peak though still a striking 31.03% gain since the share price plummeted to a 52-week low of $1.20. The company’s market capitalization is $1.10B, and the average intraday trading volume over the past 10 days was 9.35 million shares, and the average trade volume was 13.90 million shares over the past three months.

ContextLogic Inc. (WISH) received a consensus recommendation of a Hold from analysts. That translates to a mean rating of 3.20. WISH has a Sell rating from 1 analyst(s) out of 5 analysts who have looked at this stock. 2 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 1 recommend a Buy rating for it. 1 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.16.

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ContextLogic Inc. (NASDAQ:WISH) trade information

ContextLogic Inc. (WISH) registered a 1.16% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 1.16% in intraday trading to $1.74 this Thursday, 08/04/22, hitting a weekly high. The stock’s 5-day price performance is 22.54%, and it has moved by 6.75% in 30 days. Based on these gigs, the overall price performance for the year is -81.89%. The short interest in ContextLogic Inc. (NASDAQ:WISH) is 58.24 million shares and it means that shorts have 3.71 day(s) to cover.

The consensus price target of analysts on Wall Street is $3.21, which implies an increase of 45.79% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $1.50 and $7.60 respectively. As a result, WISH is trading at a discount of -336.78% off the target high and 13.79% off the low.

ContextLogic Inc. (WISH) estimates and forecasts

Statistics show that ContextLogic Inc. has underperformed its competitors in share price, compared to the industry in which it operates. ContextLogic Inc. (WISH) shares have gone down -32.56% during the last six months, with a year-to-date growth rate less than the industry average at -12.28% against -8.40. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 11.10% this quarter and then drop -70.00% in the quarter after that. In the rating firms’ projections, revenue will decrease -57.50% compared to the previous financial year.

Revenue for the current quarter is expected to be $164.4 million as predicted by 5 analyst(s). Meanwhile, a consensus of 5 analyst(s) estimates revenue growth to $225.08 million by the end of Sep 2022.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -17.40%. While earnings are projected to return 54.80% in 2022, the next five years will return 0.90% per annum.

WISH Dividends

ContextLogic Inc. is due to release its next quarterly earnings between March 07 and March 11. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

ContextLogic Inc. (NASDAQ:WISH)’s Major holders

ContextLogic Inc. insiders own 0.73% of total outstanding shares while institutional holders control 45.13%, with the float percentage being 45.46%. Formation8 GP, LLC is the largest shareholder of the company, while 209 institutions own stock in it. As of Sep 29, 2021, the company held over 46.71 million shares (or 7.80% of all shares), a total value of $255.01 million in shares.

The next largest institutional holding, with 37.36 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 6.24% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $84.06 million.

Also, the Mutual Funds coming in first place with the largest holdings of ContextLogic Inc. (WISH) shares are Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. Data provided on Mar 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 13.08 million shares. This amounts to just over 2.18 percent of the company’s overall shares, with a $29.44 million market value. The same data shows that the other fund manager holds slightly less at 12.95 million, or about 2.16% of the stock, which is worth about $20.72 million.

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