Analysts Anticipate ContextLogic Inc. (NASDAQ:WISH) Will Announce Quarterly Sales of $212.73 Million

Wall Street brokerages expect that ContextLogic Inc. (NASDAQ:WISH – Get Rating) will report sales of $212.73 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for ContextLogic’s earnings, with estimates ranging from $205.00 million to $220.46 million. ContextLogic posted sales of $772.00 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 72.4%. The firm is scheduled to report its next quarterly earnings report after the market closes on Monday, January 1st.

On average, analysts expect that ContextLogic will report full-year sales of $1.11 billion for the current year, with estimates ranging from $1.01 billion to $1.21 billion. For the next fiscal year, analysts expect that the company will post sales of $1.41 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for ContextLogic.

ContextLogic (NASDAQ:WISH – Get Rating) last posted its quarterly earnings data on Tuesday, March 1st. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. The business had revenue of $289.00 million for the quarter, compared to analyst estimates of $309.82 million. ContextLogic had a negative return on equity of 33.26% and a negative net margin of 17.31%. The business’s revenue for the quarter was down 63.6% compared to the same quarter last year. During the same quarter last year, the company earned ($3.04) earnings per share.

WISH has been the topic of several recent analyst reports. Zacks Investment Research upgraded ContextLogic from a “sell” rating to a “hold” rating in a research report on Thursday, March 3rd. Credit Suisse Group reduced their target price on ContextLogic from $12.00 to $9.50 and set an “outperform” rating on the stock in a research report on Wednesday, March 2nd. Finally, Loop Capital downgraded ContextLogic from a “buy” rating to a “hold” rating and reduced their target price for the stock from $4.00 to $2.00 in a research report on Tuesday, March 22nd. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $5.30.

NASDAQ WISH opened at $1.89 on Thursday. The business’s 50-day moving average price is $2.17 and its 200 day moving average price is $3.21. ContextLogic has a twelve month low of $1.60 and a twelve month high of $15.45. The company has a market capitalization of $1.25 billion, a PE ratio of -3.26 and a beta of -0.19.

In related news, Director Piotr Szulczewski sold 71,066 shares of the firm’s stock in a transaction dated Monday, April 18th. The stock was sold at an average price of $1.98, for a total transaction of $140,710.68. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Pai Liu sold 66,156 shares of the firm’s stock in a transaction dated Thursday, February 17th. The shares were sold at an average price of $2.40, for a total value of $158,774.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,905,556 shares of company stock worth $3,577,940. Company insiders own 40.83% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. McIlrath & Eck LLC acquired a new stake in ContextLogic during the 3rd quarter valued at approximately $46,000. Foster Group Inc. acquired a new stake in ContextLogic during the 4th quarter valued at approximately $31,000. Parametric Portfolio Associates LLC acquired a new stake in ContextLogic during the 4th quarter valued at approximately $33,000. Mount Yale Investment Advisors LLC acquired a new stake in ContextLogic during the 4th quarter valued at approximately $34,000. Finally, Laidlaw Wealth Management LLC acquired a new position in shares of ContextLogic in the 3rd quarter worth approximately $63,000. Hedge funds and other institutional investors own 27.80% of the company’s stock.

ContextLogic Company Profile (Get Rating)

ContextLogic Inc operates as a mobile ecommerce company in Europe, North America, South America, and internationally. The company operates Wish, an ecommerce 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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