In the latest trading session, ContextLogic Inc. (WISH) closed at $2.35, marking a +1.73% move from the previous day. The stock outpaced the S&P 500’s daily gain of 0.52%. At the same time, the Dow lost 0.06%, and the tech-heavy Nasdaq gained 0.11%.
Heading into today, shares of the company had lost 15.07% over the past month, lagging the Retail-Wholesale sector’s loss of 11.17% and the S&P 500’s loss of 6.51% in that time.
ContextLogic Inc. will be looking to display strength as it nears its next earnings release. In that report, analysts expect ContextLogic Inc. to post earnings of -$0.10 per share. This would mark year-over-year growth of 96.71%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $303.63 million, down 61.76% from the year-ago period.
Investors might also notice recent changes to analyst estimates for ContextLogic Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 2.07% lower. ContextLogic Inc. is holding a Zacks Rank of #4 (Sell) right now.
The Internet – Commerce industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 233, which puts it in the bottom 9% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow WISH in the coming trading sessions, be sure to utilize Zacks.com.
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