ContextLogic (NASDAQ:WISH) updated its second quarter 2021 earnings guidance on Wednesday. The company provided earnings per share guidance of - for the period. The company issued revenue guidance of $715 million-$730 million, compared to the consensus revenue estimate of $759.13 million.
WISH stock opened at $7.84 on Wednesday. ContextLogic has a one year low of $7.70 and a one year high of $32.85. The stock has a market cap of $4.85 billion and a PE ratio of -1.34. The firm has a 50 day simple moving average of $12.34 and a two-hundred day simple moving average of $16.83.
ContextLogic (NASDAQ:WISH) last released its quarterly earnings results on Wednesday, May 12th. The company reported ($0.21) EPS for the quarter, missing the Zacks' consensus estimate of ($0.18) by ($0.03). The business had revenue of $772.00 million for the quarter, compared to analyst estimates of $743.77 million. During the same period in the previous year, the company posted ($0.62) earnings per share. ContextLogic's quarterly revenue was up 75.5% on a year-over-year basis. On average, sell-side analysts forecast that ContextLogic will post -0.53 earnings per share for the current fiscal year.
WISH has been the subject of a number of research reports. Stifel Nicolaus cut their price objective on shares of ContextLogic from $20.00 to $12.00 and set a reduce rating for the company in a research note on Thursday, May 13th. Oppenheimer cut their price objective on shares of ContextLogic from $30.00 to $25.00 and set an outperform rating for the company in a research note on Tuesday, March 9th. Loop Capital raised shares of ContextLogic from a hold rating to a buy rating in a research report on Tuesday, February 16th. Credit Suisse Group dropped their price target on shares of ContextLogic from $31.00 to $24.00 and set an outperform rating for the company in a research report on Thursday, May 13th. Finally, Zacks Investment Research cut shares of ContextLogic from a hold rating to a sell rating in a research report on Wednesday, May 19th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company's stock. The company presently has an average rating of Buy and an average target price of $22.92.
In related news, CAO Brett Just sold 10,000 shares of the stock in a transaction dated Monday, March 15th. The shares were sold at an average price of $19.63, for a total value of $196,300.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,757 shares in the company, valued at approximately $623,389.91. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Devang Shah sold 50,000 shares of the stock in a transaction dated Wednesday, March 10th. The stock was sold at an average price of $16.20, for a total transaction of $810,000.00. Following the completion of the transaction, the general counsel now owns 180,635 shares of the company's stock, valued at $2,926,287. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,137,723 shares of company stock valued at $13,239,992. 32.58% of the stock is owned by company insiders.
ContextLogic Company Profile
ContextLogic Inc operates as a mobile ecommerce company in Europe, North America, South America, and internationally. The company operates Wish platform that connects users to merchants. It also provides marketplace and logistics services to merchants. The company was incorporated in 2010 and is headquartered in San Francisco, California.
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