Citigroup initiated coverage on Wish with a new price target
$WISH
Durable Goods
Consumer Discretionary
Citigroup initiated coverage of Wish with a rating of Sell and set a new price target of $0.50
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 11/9/2023 | $5.00 → $5.50 | Sell → Neutral | Citigroup |
| 11/8/2023 | $6.00 → $4.00 | Sell → Hold | Loop Capital |
| 6/29/2023 | $7.00 → $6.00 | Hold → Sell | Loop Capital |
| 12/13/2022 | $0.50 | Sell | Citigroup |
| 3/22/2022 | $4.00 → $2.00 | Buy → Hold | Loop Capital |
| 3/2/2022 | $12.00 → $9.50 | Outperform | Credit Suisse |
| 12/2/2021 | $4.00 | Buy → Neutral | UBS |
| 11/11/2021 | $15.00 → $12.00 | Outperform | Credit Suisse |
OAKLAND, Calif., May 10, 2024 (GLOBE NEWSWIRE) -- ContextLogic Inc. (NASDAQ:WISH) today announced that its Class A common stock will begin trading on NASDAQ under the ticker symbol "LOGC" prior to market open on May 13, 2024. This will replace the company's current ticker symbol "WISH", which has been used since its initial public offering in December 2020. The new ticker symbol comes following the company's sale of the Wish e-commerce platform to Qube Network Pte. Ltd., a subsidiary of Qoo10 Pte. Ltd., which was completed on April 19, 2024. Because the company is not changing its name, no action by the company's shareholders is required with respect to the ticker symbol change. The compa
OAKLAND, Calif., May 08, 2024 (GLOBE NEWSWIRE) -- ContextLogic Inc. (NASDAQ:WISH) ("ContextLogic," the "Company," "we" or "our") today reported its financial results for the quarter ended March 31, 2024. Introductory Note Prior to the April 19, 2024 closing of the Asset Sale described below, ContextLogic owned and operated the Wish platform, a mobile ecommerce platform. As a result of the Asset Sale, ContextLogic no longer owns the Wish platform or any of the related operating assets. Since the Asset Sale was not completed until after the end of the first quarter, the financial results described below do not reflect the impact of the Asset Sale or our post-closing operations. First-
SAN FRANCISCO, April 24, 2024 (GLOBE NEWSWIRE) -- ContextLogic Inc. (NASDAQ:WISH) today announced it will report its first quarter 2024 financial results after the close of market on Wednesday, May 8, 2024. ContextLogic's management team will host a live conference call and webcast for shareholders, analysts and portfolio managers to discuss the company's first quarter results that afternoon at 5:00 PM ET / 2:00 PM PT. Information about the company's financial results, including a link to the live webcast and replay will be made available on the company's investor relations website at https://ir.contextlogicinc.com. The live conference call may be accessed by registering using this onli
ContextLogic Inc. (NASDAQ:WISH) today announced that its Class A common stock will begin trading on NASDAQ under the ticker symbol "LOGC" prior to market open on May 13, 2024. This will replace the company's current ticker symbol "WISH", which has been used since its initial public offering in December 2020. The new ticker symbol comes following the company's sale of the Wish e-commerce platform to Qube Network Pte. Ltd., a subsidiary of Qoo10 Pte. Ltd., which was completed on April 19, 2024.
Second Quarter Fiscal 2024 Financial GuidanceDue to the sale of operating assets and liabilities in the Asset Sale, ContextLogic has discontinued providing guidance.
ContextLogic (NASDAQ:WISH) reported quarterly losses of $(2.43) per share which missed the analyst consensus estimate of $(1.58) by 53.8 percent. This is a 36.55 percent increase over losses of $(3.83) per share from the same period last year. The company reported quarterly sales of $36.00 million which missed the analyst consensus estimate of $56.00 million by 35.71 percent. This is a 62.50 percent decrease over sales of $96.00 million the same period last year.
Citigroup upgraded Wish from Sell to Neutral and set a new price target of $5.50 from $5.00 previously
Loop Capital upgraded Wish from Sell to Hold and set a new price target of $4.00 from $6.00 previously
Loop Capital downgraded Wish from Hold to Sell and set a new price target of $6.00 from $7.00 previously
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SAN FRANCISCO, April 24, 2024 (GLOBE NEWSWIRE) -- ContextLogic Inc. (NASDAQ:WISH) today announced it will report its first quarter 2024 financial results after the close of market on Wednesday, May 8, 2024. ContextLogic's management team will host a live conference call and webcast for shareholders, analysts and portfolio managers to discuss the company's first quarter results that afternoon at 5:00 PM ET / 2:00 PM PT. Information about the company's financial results, including a link to the live webcast and replay will be made available on the company's investor relations website at https://ir.contextlogicinc.com. The live conference call may be accessed by registering using this onli
SAN FRANCISCO, Feb. 27, 2024 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQ:WISH) ("ContextLogic" or the "Company") today announced it will report its fourth quarter and full year 2023 financial results after the close of market on Monday, March 4, 2024. In light of the pending transaction that was announced on February 12, 2024, the Company will not host a conference call or live webcast to discuss these financial results. About WishFounded in 2010 and headquartered in San Francisco, Wish is one of the largest global ecommerce platforms, connecting millions of value-conscious consumers in over 60 countries to thousands of merchants around the world. Wish combines technology a
SAN FRANCISCO, Nov. 07, 2023 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQ:WISH), one of the largest mobile ecommerce platforms, today reported its financial results for the quarter and nine months ended September 30, 2023. Wish also announced today that its Board of Directors has initiated a process to explore a range of strategic alternatives to maximize shareholder value. Third Quarter 2023 Financial Highlights Revenues: Revenues were $60 million, a decrease of 52% YoY Core Marketplace revenues were $19 million, down 53% YoYProduct Boost revenues were $5 million, down 55% YoYLogistics revenues were $36 million, down 51% YoY Net Loss: Net loss was $80 million, compared to
Upon Closing, Rishi Bajaj to Become Chief Executive Officer of ContextLogic and Four New Independent Directors to Join ContextLogic Board Six Existing Directors to Step Down from Board Upon Completion of the Qoo10 Transaction Reconstituted Board and Management Team to Focus on Maximizing Value of ~$2.7 Billion of NOLs SAN FRANCISCO, April 02, 2024 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQ:WISH) ("ContextLogic" or the "Company") today announced that it will reconstitute its Board of Directors and management team upon completion of its pending transaction under which it will sell substantially all of its operating assets and liabilities, principally comprising its
SAN FRANCISCO, Oct. 11, 2023 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a/ Wish) (NASDAQ:WISH), one of the world's largest mobile ecommerce platforms, this week will begin rolling out a new brand campaign to raise awareness of Wish as the ultimate destination for holiday gifting. The multi-channel, multi-market campaign showcases a captivating array of quirky gadgets, entertaining games, stylish fashion items, and delightful home decor products, all available on Wish to add a touch of joy to your life. From this week, the ads will begin appearing across digital platforms, streaming services and radio in Wish's key markets, to tie in with the peak holiday planning and shopping frenzy. The
SAN FRANCISCO, Feb. 23, 2023 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQ:WISH), one of the world's largest mobile ecommerce platforms, today announced that Interim CEO Joe Yan has been appointed the permanent Chief Executive Officer of Wish, effective February 21, 2023. Mr. Yan, who has been serving as Interim CEO since September 2022, has also been appointed to the Company's Board of Directors. "Joe has a deep understanding of ecommerce and brings with him almost twenty years of strategic planning, operational excellence, innovation, and cultivating teams that deliver results," said Tanzeen Syed, Chairman of the Wish Board of Directors. "As Interim CEO, he has demonstrated