ContextLogic Inc. (NASDAQ:WISH)’s traded shares stood at 20.11 million during the last session. At the close of trading, the stock’s price was $0.40, to imply a decrease of -3.37% or -$0.02 in intraday trading. The WISH share’s 52-week high remains $2.58, putting it -545.0% down since that peak but still an impressive 5.0% since price per share fell to its 52-week low of $0.38. The company has a valuation of $292.45M, with an average of 30.2 million shares in intraday trading volume over the past 10 days and average of 31.00 million shares over the past 3 months.
Analysts have given a consensus recommendation of an Underweight for ContextLogic Inc. (WISH), translating to a mean rating of 3.50. Of 6 analyst(s) looking at the stock, 2 analyst(s) give WISH a Sell rating. 0 of those analysts rate the stock as Overweight while 2 advise Hold as 1 recommend it as a Buy. 1 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -$0.18.
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ContextLogic Inc. (NASDAQ:WISH) trade information
After registering a -3.37% downside in the last session, ContextLogic Inc. (WISH) has traded red over the past five days. The stock hit a weekly high of 0.4650 this Wednesday, 03/15/23, dropping -3.37% in its intraday price action. The 5-day price performance for the stock is -11.59%, and -54.25% over 30 days. With these gigs, the year-to-date price performance is -17.57%. Short interest in ContextLogic Inc. (NASDAQ:WISH) saw shorts transact 47.79 million shares and set a 2.53 days time to cover.
Analysts on Wall Street suggest a consensus price target of $1.40, implying an increase of 71.43% to the stock’s current value. The extremes give us $0.40 and $4.40 for target low and target high price respectively. As such, WISH has been trading -1000.0% off suggested target high and 0.0% from its likely low.
ContextLogic Inc. (WISH) estimates and forecasts
Looking at statistics comparing ContextLogic Inc. share performance against respective industry, we note that the company has underperformed competitors. ContextLogic Inc. (WISH) shares are -65.34% down over the last 6 months, with its year-to-date growth rate lower than industry average at 1.75% against 13.90%. Revenue is forecast to shrink -100.00% this quarter before falling -44.40% for the next one. The rating firms project that company’s revenue will shrink -71.60% compared to the previous financial year.
Revenue forecast for the current quarter as set by 5 analysts is $152.02 million. Meanwhile, for the quarter ending Mar 2023, a total of 5 analyst(s) estimate revenue growth to $164.25 million.Earnings reports from the last fiscal year show that sales brought in $289 million and $189 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to fall -47.40% before dropping -13.10% in the following quarter.
An assessment of the company’s 5-year growth patterns shows that annual earnings shrunk an estimated -6.30% for the past 5-year period. While 2023 is set for a 0.40% return in earnings, projections for the next 5 years are at 9.60% annually.
ContextLogic Inc. has its next earnings report out between May 03 and May 08. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. ContextLogic Inc. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.
ContextLogic Inc. (NASDAQ:WISH)’s Major holders
ContextLogic Inc. insiders hold 9.38% of total outstanding shares, with institutional holders owning 45.22% of the shares at 49.90% float percentage. In total, 45.22% institutions holds shares in the company, led by Vanguard Group, Inc. (The). As of Sep 29, 2022, the company held over 43.04 million shares (or 6.36% of shares), all amounting to roughly $31.59 million.
The next major institution holding the largest number of shares is Blackrock Inc. with 40.29 million shares, or about 5.95% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $29.57 million.
We also have Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF as the top two Mutual Funds with the largest holdings of the ContextLogic Inc. (WISH) shares. Going by data provided on Sep 29, 2022, Vanguard Total Stock Market Index Fund holds roughly 13.43 million shares. This is just over 1.98% of the total shares, with a market valuation of $9.86 million. Data from the same date shows that the other fund manager holds a little less at 13.11 million, or 1.94% of the shares, all valued at about 6.4 million.