Market Analysts see ContextLogic Inc. [WISH] gaining to $12. Time to buy?

ContextLogic Inc. [NASDAQ: WISH] loss -0.96% on the last trading session, reaching $10.31 price per share at the time. The company report on August 2, 2021 that Wish Continues to Bolster Senior Leadership Team With Appointment of Chief Product Officer.

Industry Veteran, Tarun Jain, Brings a Wealth of Product Development and Strategy Experience to Wish.

ContextLogic Inc. (d/b/a Wish) (NASDAQ: WISH), one of the world’s largest mobile ecommerce platforms, announced the appointment of Tarun Jain, former product leader from Google, to the newly created position of Chief Product Officer. Mr. Jain will report directly to Wish Founder and CEO, Piotr Szulczewski, effective immediately.

ContextLogic Inc. represents 619.00 million in outstanding shares, while the company has a total market value of $6.41 billion with the latest information. WISH stock price has been found in the range of $10.15 to $10.5027.

If compared to the average trading volume of 64.94M shares, WISH reached a trading volume of 20314913 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about ContextLogic Inc. [WISH]:

BofA Securities have made an estimate for ContextLogic Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on July 21, 2021. While these analysts kept the previous recommendation, Evercore ISI dropped their target price from $17 to $13. The new note on the price target was released on July 02, 2021, representing the official price target for ContextLogic Inc. stock. Previously, the target price had yet another raise to $22, while Evercore ISI analysts kept a Outperform rating on WISH stock.

The Average True Range (ATR) for ContextLogic Inc. is set at 0.80, with the Price to Sales ratio for WISH stock in the period of the last 12 months amounting to 2.23. The Price to Book ratio for the last quarter was 6.87, with the Price to Cash per share for the same quarter was set at 2.85.

Trading performance analysis for WISH stock

ContextLogic Inc. [WISH] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 10.62. With this latest performance, WISH shares dropped by -11.50% in over the last four-week period, additionally sinking by -64.63% over the last 6 months.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for WISH stock in for the last two-week period is set at 49.06, with the RSI for the last a single of trading hit 53.01, and the three-weeks RSI is set at 47.72 for ContextLogic Inc. [WISH]. The present Moving Average for the last 50 days of trading for this stock 10.54, while it was recorded at 10.12 for the last single week of trading.

ContextLogic Inc. [WISH]: A deeper dive into fundamental analysis

ContextLogic Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.90 and a Current Ratio set at 1.90.

ContextLogic Inc. [WISH]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for WISH. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for ContextLogic Inc. go to 66.30%.

An analysis of insider ownership at ContextLogic Inc. [WISH]

There are presently around $3,599 million, or 93.30% of WISH stock, in the hands of institutional investors. The top three institutional holders of WISH stocks are: GALILEO (PTC) LTD with ownership of 103,765,380, which is approximately 0% of the company’s market cap and around 3.40% of the total institutional ownership; FORMATION8 GP, LLC, holding 63,386,126 shares of the stock with an approximate value of $653.51 million in WISH stocks shares; and FOUNDERS FUND V MANAGEMENT, LLC, currently with $618.33 million in WISH stock with ownership of nearly New of the company’s market capitalization.

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101 institutional holders increased their position in ContextLogic Inc. [NASDAQ:WISH] by around 82,867,275 shares. Additionally, 52 investors decreased positions by around 13,005,583 shares, while 17 investors held positions by with 253,237,732 shares. The mentioned changes placed institutional holdings at 349,110,590 shares, according to the latest SEC report filing. WISH stock had 65 new institutional investments in for a total of 67,864,513 shares, while 38 institutional investors sold positions of 8,701,571 shares during the same period.

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