ContextLogic Inc. shares have lagged the S&P 500 in 2021, generating a year-to-date total return loss of 80.3 percent. ContextLogic’s stock has had a wild ride in 2021, but investors may be wondering whether there’s any value to be found in ContextLogic shares after the sell-off. Earnings A price-to-earnings ratio (PE) is one of the most basic fundamental metrics for gauging a stock’s value. The lower the PE, the higher the value. For comparison, the S&P 500’s PE is currently at about 30.5, nearly double its long-term average of 15.9. ContextLogic doesn’t currently have a PE ratio because the company is not profitable. In the most recent quarter, ContextLogic reported a $64 million net loss. Growth Looking ahead to the next four quarters, the S&P 500’s forward PE ratio looks much more reasonable at just 21.3. Unfortunately, analysts are not expecting ContextLogic to turn a profit over the next four …