Are You Looking To Buy ContextLogic Inc. (WISH)? First, Read This

ContextLogic Inc. (NASDAQ:WISH) finished Tuesday with a subtraction of -$0.07 to close at $4.78, a downside of -1.44 percent. An average of 41,253,078 shares of common stock have been traded in the last five days. There was a fall of -$1.02 in the past week. The last 20 days have seen an average of 37,909,395 shares traded, while the 50-day average volume stands at 40,138,004.

WISH stock has decreased by -33.98% in the last month. The company shares reached their 1-month lowest point of $4.75 on 10/05/21. Shares of the company touched a low of $4.81 and a high of $32.85 in 52 weeks. In spite of this, the price is down -85.45% from the 52-week high.


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Insider Transactions

5 days have passed since ContextLogic Inc. (WISH) last reported insider trading activity. Shah Devang, who is General Counsel and Secretary, most recently acquired $4,083 shares at $5.53 per share on Oct 01. In this transaction, the insider spent $22,579. Vice President of Operations, Chuang Peiyen, disposed of 3,111 shares at a price of $6.30 on Sep 17. The insider now owns more than $19,599 worth of shares. Prior to that, Interim Co-CFO, Chief Acc Ofcr Just Brett went on to Sale 1,791 shares at $6.30 each on Sep 17. An amount of $11,283 was transacted.

Valuation Metrics

ContextLogic Inc. (WISH) has a trailing price-to-earnings (P/E) ratio of 21.00 for the broader industry and 19.93 for the sector. This means investors are optimistic about the stock’s future prospects. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.08, the price-to-book (PB) ratio at 3.46.

The quick ratio of ContextLogic Inc. for the three months ended June 29 was 2.00, and the current ratio was 2.00, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.00 for the quarter ending June 29. ContextLogic Inc.’s EBITDA margin for the year ending June 29 is -23.97%. Its gross profit as reported stood at $1.59 billion compared to revenue of $2.54 billion.

Technical Picture

From a technical analysis perspective, let’s take a brief look at ContextLogic Inc. (WISH) price momentum. RSI 9-day as of the close on 05 October was 19.19%, suggesting the stock is oversold, with historical volatility in this time frame at 58.69%.

As of today, WISH’s price is $5.21 -17.59% or -$1.02 from its 5-day moving average. WISH is currently trading -35.23% lower than its 20-day SMA and -41.06% lower than its 100-day SMA. However, the stock’s current price level is -47.82% below the SMA50.

The stochastic %K and %D were 3.37% and 3.44%, respectively, and the average true range (ATR) was 0.38. With the 14-day stochastic at 1.59% and the average true range at 0.43, the RSI (14) stands at 25.04%. The stock has reached -0.58 on the 9-day MACD Oscillator while the 14-day reading was at -0.78.

Analyst Ratings

Oppenheimer downgraded ContextLogic Inc. (NASDAQ: WISH) to a an Underperform rating in its most recent analyst report. Previously, the stock was rated as a a Perform.The consensus rating for ContextLogic Inc. (WISH) among analysts is Hold. According to current brokerage recommendations, 2 brokerage firms advise that investors sell WISH, while 5 suggest investors hold. There are 1 analyst who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 3 others rate it as a “buy”.

What is WISH’s price target for the next 12 months?

Analysts predict a range of price targets between $5.00 and $19.00, with a median target of $8.00. Taking a look at these predictions, the average price target given by analysts for ContextLogic Inc. (WISH) stock is $9.83.

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