- Evercore ISI analyst Shweta Khajuria downgraded ContextLogic Inc WISH to In-Line from Outperform rating with a price target of $13, down from $17.
- 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.
- It announced plans to reopen its offices. The company declared flexible working options for the majority of its employees.
- 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).
- WISH shares lost 15% in the last week.
- Price action: WISH shares traded lower by 1.39% at $12.07 in the premarket session on the last check Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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