Among the most popular retail favorites in the market, ContextLogic (NASDAQ:WISH) is a stock that’s certainly seen some volatility over the past year. Surging to more than $21 per share a year ago, WISH stock has since lost more than 90% of its value, trading around the $2 level today.
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This sort of decline has many investors asking the question, is WISH stock a buy at these levels? After all, at some point, every company becomes too cheap to ignore.
That’s a difficult assessment to make right now. Sure, some retail investors may be inclined to continue to buy this dip. However, ContextLogic’s high-beta moves have unfortunately lined up with much of the negative sentiment that’s been building of late around high-growth stocks. Accordingly, some analysts and institutions investors appear to think that WISH stock is one that may be more difficult to assess than the retail crowd.
Let’s dive into what the experts think about ContextLogic’s prospects right now.
Where Do Analysts Think WISH Stock Is Headed From Here?
For reference, WISH currently trades at $2.08 per share, at the time of writing.
- Scott Devitt of Stifel lowered his price target to $3 per share from $5 per share in January. This analyst has a hold rating on the stock.
- In December, UBS analyst Kunal Madhukar also downgraded WISH stock to neutral from buy, with a $4 price target.
- Citigroup’s Nicholas Jones took a similar approach, downgrading his price target to $5.50 from $7 per share, maintaining a neutral rating.
- Finally, Mike McGovern of Bank of America put a sell rating on WISH stock, with a price target of $5 per share in Q4 of last year.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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