Analysts Expect ContextLogic Inc. (NASDAQ:WISH) Will Announce Earnings of -$0.15 Per Share

Equities research analysts predict that ContextLogic Inc. (NASDAQ:WISH) will announce ($0.15) earnings per share for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for ContextLogic’s earnings, with the lowest EPS estimate coming in at ($0.17) and the highest estimate coming in at ($0.13). The company is expected to issue its next quarterly earnings results on Thursday, November 11th.

On average, analysts expect that ContextLogic will report full year earnings of ($0.66) per share for the current year, with EPS estimates ranging from ($0.67) to ($0.65). For the next financial year, analysts forecast that the firm will report earnings of ($0.48) per share, with EPS estimates ranging from ($0.64) to ($0.33). Zacks’ EPS averages are a mean average based on a survey of research firms that follow ContextLogic.

ContextLogic (NASDAQ:WISH) last released its quarterly earnings data on Thursday, August 12th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). The firm had revenue of $656.00 million during the quarter, compared to analysts’ expectations of $724.11 million. ContextLogic had a negative return on equity of 296.87% and a negative net margin of 32.07%.

Several equities research analysts recently commented on WISH shares. JPMorgan Chase & Co. downgraded ContextLogic from an “overweight” rating to an “underweight” rating and dropped their target price for the company from $17.00 to $5.00 in a report on Friday, August 13th. Stifel Nicolaus dropped their target price on ContextLogic from $12.00 to $8.00 and set a “hold” rating on the stock in a report on Friday, August 13th. Citigroup dropped their target price on ContextLogic from $12.00 to $7.50 and set a “neutral” rating on the stock in a report on Monday, August 23rd. Loop Capital dropped their target price on ContextLogic from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, August 13th. Finally, William Blair downgraded ContextLogic from an “outperform” rating to a “market perform” rating in a report on Friday, August 13th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $16.75.

In related news, General Counsel Devang Shah sold 15,083 shares of the business’s stock in a transaction that occurred on Tuesday, June 29th. The stock was sold at an average price of $14.20, for a total transaction of $214,178.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Hans Tung sold 347,010 shares of the business’s stock in a transaction that occurred on Wednesday, September 15th. The shares were sold at an average price of $6.36, for a total value of $2,206,983.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,247,387 shares of company stock valued at $8,752,607. Insiders own 40.83% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Banque Cantonale Vaudoise raised its stake in ContextLogic by 100.0% during the 2nd quarter. Banque Cantonale Vaudoise now owns 2,000 shares of the company’s stock valued at $26,000 after acquiring an additional 1,000 shares in the last quarter. Quantbot Technologies LP bought a new stake in ContextLogic during the 1st quarter valued at $34,000. Psagot Investment House Ltd. bought a new stake in ContextLogic during the 2nd quarter valued at $33,000. Evoke Wealth LLC bought a new stake in ContextLogic during the 2nd quarter valued at $40,000. Finally, Alpha Paradigm Partners LLC bought a new stake in ContextLogic during the 1st quarter valued at $70,000. 26.58% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ContextLogic stock traded up $0.23 during trading hours on Friday, reaching $6.54. The stock had a trading volume of 52,196,638 shares, compared to its average volume of 33,444,074. The firm has a 50 day simple moving average of $8.33 and a two-hundred day simple moving average of $11.42. The firm has a market capitalization of $4.11 billion and a price-to-earnings ratio of -1.11. ContextLogic has a 1 year low of $6.14 and a 1 year high of $32.85.

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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Earnings History and Estimates for ContextLogic (NASDAQ:WISH)

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