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Evercore ISI analyst Shweta Khajuria downgraded ContextLogic Inc (NASDAQ: WISH) to In-Line from Outperform rating with a price target of $13, down from $17.
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CFO Rajat Bahri resigned from the mobile e-commerce company effective July 23 after four and a half years. The company did not provide a reason for the abrupt departure.
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It announced plans to reopen its offices. The company declared flexible working options for the majority of its employees.
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In May, the company beat the Q1 revenue analyst consensus by 3.9% as the revenue jumped 75% year-on-year to $772 million. It missed the EPS consensus by 16.7% at $(0.21).
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WISH shares lost 15% in the last week.
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Price action: WISH shares traded lower by 1.39% at $12.07 in the premarket session on the last check Friday.
Latest Ratings for WISH
Jul 2021
Evercore ISI Group
Downgrades
Outperform
In-Line
Apr 2021
Evercore ISI Group
Initiates Coverage On
Outperform
Feb 2021
Loop Capital
Upgrades
Hold
Buy
View More Analyst Ratings for WISH
View the Latest Analyst Ratings
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