Recently, the stock rating for prominent e-commerce platform ContextLogic Inc. (WISH) is reported to witness a change. Now the rating represents “Hold” following the rating by six analysts. This way the stock achieved a consensus opinion of these analysts. Out of the six analysts, five rated the stock for “Hold” while the remaining one gave rating of “buy” to WISH stock.
For trading price, most analysts were seen to set their estimate for price in one-year to be about 4.95 USD. While a different research from August noted the lowering of rating on ContextLogic and price objective for WISH stock by Credit Suisse Group. Earlier the price objective was 7.60 USD which is now 7.20 USD.
One of the prominent shareholders in ContextLogic, Piotr Szulczewski, reported to sell about 1,706,703 shares from his shareholdings on October 20th. Overall price for the whole stash of shares amounts to about 1,280,027 USD. By the end of the whole transaction process, the shareholder remained with 33,750,280 shares of WISH. The shareholding currently accounts for over 25,312,710 USD.
Meanwhile, one of the senior executives in ContextLogic Tarun Kumar Jain also reported on October 3rd to sell about 88,000 shares. The overall sale generated about 63,360 USD given the selling price to be 0.72 USD. With the competition of stock selling process, he now holds 182,729 shares of WISH stock.
For a while now, WISH stock price is consistently dropping where it has been trading below 1 USD since mid September 2022. However, for the better part of this year, the stock prices are expected to witness some growth and perform relatively better given the earnings release of ContextLogic Inc. in November 2022.
However, the company has teased the predictions for several related indicators already. As reported by TheCoinRepublic, the company expected the earning per share (EPS) to be around 0.16 USD. This would be a drop of 220% from what it was about a year ago. In addition to this, it also expected the quarterly revenue to be around 119.04 million USD which would be a decline of 67.65% from its revenue during the last quarter.
Considering the estimates of ContextLogic from analysts’ prediction, the company seems humble in terms of prediction. For instance, Zack Consensus estimated the WISH stock EPS would stay around 0.64 USD and the revenue to reach upto 629.29 million USD.
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Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2022/10/26/analysts-reach-on-consensus-to-put-contextlogic-wish-stock-on-hold/