ContextLogic Inc. [WISH] is -37.30% lower this YTD. Is it still time to buy?

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ContextLogic Inc. [NASDAQ: WISH] stock went on a downward path that fall over -2.99% on Friday, amounting to a one-week price increase of more than 15.38%. The company report on June 24, 2022 that ContextLogic (Nasdaq: WISH) to join the Russell 3000 Index.


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ContextLogic Inc. (d/b/a Wish) (NASDAQ: WISH), one of the world’s largest mobile ecommerce platforms, today announced the company expects to join the broad-market Russell 3000® Index after the conclusion of the 2022 Russell indexes annual reconstitution, effective after the market opens on June 27, 2022, according to a preliminary list of additions posted June 3, 2022.

Annual Russell indexes reconstitution captures the 4,000 largest US stocks as of May 6, 2022, ranking them by total market capitalization. Membership in the US all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes. “We’re pleased to be joining the Russell 3000®, as it greatly broadens Wish’s visibility among the investment community,” said Vijay Talwar, Wish’s CEO.

Over the last 12 months, WISH stock dropped by -86.45%. The one-year ContextLogic Inc. stock forecast points to a potential upside of 34.56. The average equity rating for WISH stock is currently 3.20, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $1.34 billion, with 661.00 million shares outstanding and 528.66 million shares in the current float. Compared to the average trading volume of 14.54M shares, WISH stock reached a trading volume of 83559426 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on ContextLogic Inc. [WISH]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WISH shares is $2.98 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on WISH stock is a recommendation set at 3.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Loop Capital have made an estimate for ContextLogic Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on March 22, 2022. The new note on the price target was released on December 02, 2021, representing the official price target for ContextLogic Inc. stock. Previously, the target price had yet another raise to $4, while Oppenheimer analysts kept a Underperform rating on WISH stock. On August 13, 2021, analysts decreased their price target for WISH shares from 12 to 8.

The Average True Range (ATR) for ContextLogic Inc. is set at 0.17, with the Price to Sales ratio for WISH stock in the period of the last 12 months amounting to 0.89. The Price to Book ratio for the last quarter was 1.71, with the Price to Cash per share for the same quarter was set at 1.49.

WISH Stock Performance Analysis:

ContextLogic Inc. [WISH] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 15.38. With this latest performance, WISH shares gained by 32.65% in over the last four-week period, additionally sinking by -43.97% over the last 6 months – not to mention a drop of -86.45% in the past year of trading.

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 55.84, with the RSI for the last a single of trading hit 58.27, and the three-weeks RSI is set at 53.69 for ContextLogic Inc. [WISH]. The present Moving Average for the last 50 days of trading for this stock 1.7432, while it was recorded at 1.9180 for the last single week of trading, and 3.1630 for the last 200 days.

Insight into ContextLogic Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and ContextLogic Inc. [WISH] shares currently have an operating margin of -18.57 and a Gross Margin at +52.64. ContextLogic Inc.’s Net Margin is presently recorded at -17.50.

Return on Equity for this stock declined to -39.13, with Return on Assets sitting at -19.62.

ContextLogic Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.10 and a Current Ratio set at 3.10.

WISH Stock EPS

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 0.90%.

ContextLogic Inc. [WISH] Insider Position Details

There are presently around $463 million, or 39.00% of WISH stock, in the hands of institutional investors. The top three institutional holders of WISH stocks are: FORMATION8 GP, LLC with ownership of 46,705,077, which is approximately -26.317% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 37,358,816 shares of the stock with an approximate value of $72.85 million in WISH stocks shares; and GGV CAPITAL LLC, currently with $65.37 million in WISH stock with ownership of nearly -6.782% of the company’s market capitalization.

Positions in ContextLogic Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 89 institutional holders increased their position in ContextLogic Inc. [NASDAQ:WISH] by around 30,901,993 shares. Additionally, 61 investors decreased positions by around 34,879,233 shares, while 49 investors held positions by with 171,585,502 shares. The mentioned changes placed institutional holdings at 237,366,728 shares, according to the latest SEC report filing. WISH stock had 36 new institutional investments in for a total of 8,623,854 shares, while 27 institutional investors sold positions of 7,496,265 shares during the same period.

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