Skillz Inc. (NYSE:SKLZ) Given Average Rating of “Buy” by Analysts

Shares of Skillz Inc. (NYSE:SKLZGet Rating) have been given an average rating of “Buy” by the ten research firms that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $9.19.

SKLZ has been the subject of several research reports. Royal Bank of Canada lowered their price objective on shares of Skillz from $12.00 to $2.50 and set a “sector perform” rating for the company in a research report on Thursday, February 24th. Citigroup lowered their price objective on shares of Skillz from $9.00 to $5.00 in a research report on Tuesday, March 1st. Stifel Nicolaus lowered their price objective on shares of Skillz from $16.00 to $3.50 in a research report on Thursday, February 24th. Wedbush lowered their price objective on shares of Skillz from $25.00 to $7.50 and set an “outperform” rating for the company in a research report on Thursday, February 24th. Finally, Canaccord Genuity Group lowered their price objective on shares of Skillz from $12.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, February 24th.

Shares of NYSE:SKLZ traded down $0.10 during midday trading on Monday, reaching $1.72. 11,649,679 shares of the company were exchanged, compared to its average volume of 14,060,295. The company has a current ratio of 7.12, a quick ratio of 6.80 and a debt-to-equity ratio of 0.51. The business’s fifty day moving average is $2.53 and its two-hundred day moving average is $5.45. Skillz has a one year low of $1.39 and a one year high of $24.88. The stock has a market cap of $704.71 million, a PE ratio of -2.57 and a beta of 2.01.

Skillz (NYSE:SKLZGet Rating) last issued its earnings results on Wednesday, May 4th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.19). Skillz had a negative return on equity of 42.74% and a negative net margin of 70.05%. The company had revenue of $93.44 million for the quarter, compared to the consensus estimate of $90.87 million. During the same quarter in the prior year, the company posted ($0.13) EPS. Skillz’s revenue was up 11.7% compared to the same quarter last year. As a group, sell-side analysts expect that Skillz will post -0.79 EPS for the current year.

In related news, Director Jerome Leon Bruckheimer bought 101,215 shares of the company’s stock in a transaction on Monday, March 7th. The shares were acquired at an average cost of $2.46 per share, for a total transaction of $248,988.90. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Harry Sloan purchased 100,000 shares of the firm’s stock in a transaction dated Monday, March 14th. The shares were bought at an average cost of $2.27 per share, with a total value of $227,000.00. The disclosure for this purchase can be found here. Corporate insiders own 25.94% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp boosted its holdings in shares of Skillz by 58.1% in the first quarter. State Street Corp now owns 6,981,329 shares of the company’s stock valued at $20,944,000 after purchasing an additional 2,564,912 shares during the period. Ethic Inc. purchased a new stake in shares of Skillz in the first quarter valued at approximately $34,000. Vident Investment Advisory LLC purchased a new stake in shares of Skillz in the first quarter valued at approximately $35,000. Invesco Ltd. lifted its holdings in Skillz by 173.9% during the first quarter. Invesco Ltd. now owns 482,207 shares of the company’s stock worth $1,446,000 after buying an additional 306,133 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in Skillz during the first quarter worth $48,225,000. Hedge funds and other institutional investors own 44.94% of the company’s stock.

Skillz Company Profile (Get Rating)

Skillz Inc operates a mobile games platform that connects players in fair, fun, and meaningful competition. The company primarily develops and supports a proprietary online-hosted technology platform that enables independent game developers to host tournaments and provide competitive gaming activity to end-users worldwide.

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Analyst Recommendations for Skillz (NYSE:SKLZ)

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