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Investor Confidence Dwindles After ContextLogic Inc. (NASDAQ: WISH) Shares Gain By About 0.05

ContextLogic Inc. (NASDAQ:WISH) has seen 16.8 million shares traded in the last trading session. The company, currently valued at $435.60M, closed the last trade at $0.67 per share which meant it gained $0.05 on the day or 7.61% during that session. The WISH stock price is -337.31% off its 52-week high price of $2.93 and 34.33% above the 52-week low of $0.44. If we look at the company’s 10-day average daily trading volume, we find that it stood at 20.29 million shares traded. The 3-month trading volume is 19.75 million shares.

The consensus among analysts is that ContextLogic Inc. (WISH) is an Underweight stock at the moment, with a recommendation rating of 3.50. 2 analysts rate the stock as a Sell, while 0 rate it as Overweight. 2 out of 6 have rated it as a Hold, with 1 advising it as a Buy. 1 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.2.

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ContextLogic Inc. (NASDAQ:WISH) trade information

Sporting 7.61% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Monday, 01/23/23 when the WISH stock price touched $0.67 or saw a rise of 7.22%. Year-to-date, ContextLogic Inc. shares have moved 37.46%, while the 5-day performance has seen it change 3.12%. Over the past 30 days, the shares of ContextLogic Inc. (NASDAQ:WISH) have changed 33.71%. Short interest in the company has seen 51.25 million shares shorted with days to cover at 2.11.

Wall Street analysts have a consensus price target for the stock at $1.70, which means that the shares’ value could jump 60.59% from current levels. The projected low price target is $0.50 while the price target rests at a high of $5.70. In that case, then, we find that the current price level is -750.75% off the targeted high while a plunge would see the stock lose 25.37% from current levels.

ContextLogic Inc. (WISH) estimates and forecasts

Figures show that ContextLogic Inc. shares have outperformed across the wider relevant industry. The company’s shares have lost -57.30% over the past 6 months, with this year growth rate of -3.51%, compared to -5.90% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are -100.00% and -177.80% for the next quarter. Revenue growth from the last financial year stood is estimated to be -65.60%.

5 analysts offering their estimates for the company have set an average revenue estimate of $155.99 million for the current quarter. 5 have an estimated revenue figure of $237.28 million for the next quarter concluding in Dec 2022.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -17.40% over the past 5 years. Earnings growth for 2023 is a modest 54.80% while over the next 5 years, the company’s earnings are expected to increase by 9.60%.

WISH Dividends

ContextLogic Inc. is expected to release its next earnings report between February 27 and March 03 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

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

Insiders own 7.02% of the company shares, while shares held by institutions stand at 53.97% with a share float percentage of 58.05%. Investors are also buoyed by the number of investors in a company, with ContextLogic Inc. having a total of 239 institutions that hold shares in the company. The top two institutional holders are Formation8 GP, LLC with over 46.71 million shares worth more than $255.01 million. As of Sep 29, 2021, Formation8 GP, LLC held 7.67% of shares outstanding.

The other major institutional holder is Vanguard Group, Inc. (The), with the holding of over 43.82 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $70.11 million and represent 7.20% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. As of Jun 29, 2022, the former fund manager holds about 2.46% shares in the company for having 14.97 million shares of worth $23.95 million while later fund manager owns 12.86 million shares of worth $20.57 million as of Jun 29, 2022, which makes it owner of about 2.11% of company’s outstanding stock.

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