Oppenheimer Thinks ContextLogic’s Stock is Going to Recover
In a report released today, Jason Helfstein from Oppenheimer assigned a Buy rating to ContextLogic (WISH), with a price target of $25.00. The company’s shares closed last Wednesday at $16.29, close to its 52-week low of $15.06.
According to TipRanks.com, Helfstein is a top 25 analyst with an average return of 45.8% and a 72.8% success rate. Helfstein covers the Technology sector, focusing on stocks such as Spotify Technology SA, Opendoor Technologies, and Zillow Group Class C.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for ContextLogic with a $24.90 average price target, implying a 49.5% upside from current levels. In a report issued on March 9, Deutsche Bank also maintained a Buy rating on the stock with a $22.00 price target.
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Based on the recent corporate insider activity of 20 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of WISH in relation to earlier this year.
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ContextLogic Inc is an online shopping store. The store provides personalized products, clothing products, accessories, gaming products and equipment, cosmetics, plastic products, mobile covers, and other products.
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