Skillz (NYSE:SKLZ) Trading Up 1.8% – Time to Buy?
by Kim Johansen · The Markets DailyShares of Skillz Inc. (NYSE:SKLZ – Get Free Report) rose 1.8% during mid-day trading on Thursday . The stock traded as high as $4.45 and last traded at $4.43. Approximately 49,815 shares changed hands during mid-day trading, a decline of 31% from the average daily volume of 72,103 shares. The stock had previously closed at $4.35.
Analysts Set New Price Targets
Several brokerages recently weighed in on SKLZ. Wall Street Zen upgraded Skillz from a “sell” rating to a “hold” rating in a research report on Saturday, November 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Skillz in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Skillz has a consensus rating of “Hold” and a consensus target price of $15.00.
Check Out Our Latest Stock Analysis on Skillz
Skillz Stock Down 0.7%
The company has a market cap of $66.30 million, a PE ratio of -1.06 and a beta of 2.89. The business has a 50-day simple moving average of $5.32 and a 200-day simple moving average of $6.80. The company has a quick ratio of 4.32, a current ratio of 4.32 and a debt-to-equity ratio of 1.00.
Skillz (NYSE:SKLZ – Get Free Report) last posted its quarterly earnings data on Thursday, December 11th. The company reported ($1.14) EPS for the quarter. Skillz had a negative net margin of 69.44% and a negative return on equity of 50.96%. The business had revenue of $27.37 million during the quarter. Equities research analysts anticipate that Skillz Inc. will post -4.35 EPS for the current year.
Hedge Funds Weigh In On Skillz
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. lifted its stake in Skillz by 335.6% in the 3rd quarter. Pacer Advisors Inc. now owns 5,645 shares of the company’s stock worth $45,000 after purchasing an additional 4,349 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Skillz in the first quarter valued at approximately $80,000. Bridgeway Capital Management LLC purchased a new position in Skillz during the second quarter worth approximately $93,000. Goldman Sachs Group Inc. acquired a new position in Skillz during the first quarter worth $95,000. Finally, Millennium Management LLC purchased a new stake in Skillz in the 3rd quarter valued at $97,000. 19.42% of the stock is owned by hedge funds and other institutional investors.
Skillz Company Profile
Skillz Inc (NYSE: SKLZ) operates a mobile e-sports platform that connects game developers, advertisers and players through skill-based competition. By integrating its software development kit into a variety of casual and midcore mobile titles, the company enables in-app tournaments and head-to-head matches in which users compete for virtual or cash prizes. Skillz’s marketplace also offers real-time leaderboards, live events and social features designed to enhance player engagement and retention.
The company’s core offering includes developer tools and analytics that help game studios monetize through entry fees, in-game purchases and ad revenue sharing.