why ContextLogic Inc. [WISH] is a Good Choice for Investors After New Price Target of $2.97

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ContextLogic Inc. [NASDAQ: WISH] loss -8.61% or -0.13 points to close at $1.38 with a heavy trading volume of 8849391 shares. The company report on July 19, 2022 that Wish to Announce Second Quarter 2022 Results on August 9, 2022.


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Conference Call to be Webcast Live at 5 PM ET / 2 PM PT.

ContextLogic Inc. (d/b/a Wish) (NASDAQ: WISH), one of the world’s largest mobile ecommerce platforms, today announced it will report its second quarter 2022 financial results after the market close on Tuesday, August 9, 2022. Wish management will host a live conference call and webcast for shareholders, analysts and portfolio managers to discuss the company’s second quarter results that afternoon at 5:00 PM ET / 2:00 PM PT.

It opened the trading session at $1.50, the shares rose to $1.51 and dropped to $1.38, the range by which the price of stock traded the whole day. The daily chart for WISH points out that the company has recorded -42.02% loss over the past six months. However, it is still -15.0% lower than its most recent low trading price.

If we look at the average trading volume of 14.34M shares, WISH reached to a volume of 8849391 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]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WISH shares is $2.97 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 0.13, with the Price to Sales ratio for WISH stock in the period of the last 12 months amounting to 0.67. The Price to Book ratio for the last quarter was 1.21, with the Price to Cash per share for the same quarter was set at 1.41.

Trading performance analysis for WISH stock

ContextLogic Inc. [WISH] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -13.21. With this latest performance, WISH shares dropped by -29.23% in over the last four-week period, additionally sinking by -42.02% over the last 6 months – not to mention a drop of -84.93% 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 37.92, with the RSI for the last a single of trading hit 33.08, and the three-weeks RSI is set at 40.87 for ContextLogic Inc. [WISH]. The present Moving Average for the last 50 days of trading for this stock 1.6886, while it was recorded at 1.5720 for the last single week of trading, and 2.7113 for the last 200 days.

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

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

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 0.90%.

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

There are presently around $358 million, or 45.60% 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 $56.41 million in WISH stocks shares; and GGV CAPITAL LLC, currently with $50.62 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 August and at the time of the August reporting period, where 85 institutional holders increased their position in ContextLogic Inc. [NASDAQ:WISH] by around 31,037,481 shares. Additionally, 62 investors decreased positions by around 34,964,253 shares, while 49 investors held positions by with 171,404,088 shares. The mentioned changes placed institutional holdings at 237,405,822 shares, according to the latest SEC report filing. WISH stock had 34 new institutional investments in for a total of 8,774,094 shares, while 28 institutional investors sold positions of 7,516,560 shares during the same period.

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