Skillz Inc. (NYSE:SKLZ) Expected to Announce Earnings of -$0.18 Per Share

Brokerages expect Skillz Inc. (NYSE:SKLZGet Rating) to post ($0.18) earnings per share (EPS) for the current quarter, according to Zacks. Three analysts have made estimates for Skillz’s earnings, with the lowest EPS estimate coming in at ($0.19) and the highest estimate coming in at ($0.17). Skillz reported earnings of ($0.13) per share during the same quarter last year, which indicates a negative year over year growth rate of 38.5%. The company is expected to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Skillz will report full-year earnings of ($0.65) per share for the current year, with EPS estimates ranging from ($0.69) to ($0.60). For the next year, analysts expect that the company will report earnings of ($0.55) per share, with EPS estimates ranging from ($0.58) to ($0.53). Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Skillz.

Skillz (NYSE:SKLZGet Rating) last issued its quarterly earnings results on Wednesday, February 23rd. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.11). The company had revenue of $108.85 million during the quarter, compared to the consensus estimate of $114.05 million. Skillz had a negative return on equity of 37.99% and a negative net margin of 47.22%. The business’s revenue for the quarter was up 60.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.13) earnings per share.

A number of research firms recently issued reports on SKLZ. Wedbush dropped their price objective on shares of Skillz from $25.00 to $7.50 and set an “outperform” rating on the stock in a report on Thursday, February 24th. Zacks Investment Research downgraded shares of Skillz from a “hold” rating to a “sell” rating in a report on Tuesday, March 1st. Canaccord Genuity Group cut their target price on Skillz from $12.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, February 24th. Canaccord Genuity Group cut their price objective on shares of Skillz from $12.00 to $7.00 and set a “buy” rating for the company in a report on Thursday, February 24th. Finally, Citigroup lowered their target price on shares of Skillz from $9.00 to $5.00 in a report on Tuesday, March 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $11.36.

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

Several institutional investors and hedge funds have recently modified their holdings of the company. Toth Financial Advisory Corp boosted its stake in shares of Skillz by 945.5% during the 4th quarter. Toth Financial Advisory Corp now owns 4,914 shares of the company’s stock worth $37,000 after acquiring an additional 4,444 shares in the last quarter. Lazard Asset Management LLC acquired a new position in Skillz in the 4th quarter valued at $37,000. Macquarie Group Ltd. purchased a new position in shares of Skillz in the third quarter worth about $56,000. Walleye Capital LLC acquired a new position in Skillz during the fourth quarter worth $76,000. Finally, AE Wealth Management LLC acquired a new stake in Skillz during the fourth quarter worth about $77,000. Hedge funds and other institutional investors own 45.41% of the company’s stock.

NYSE:SKLZ opened at $2.57 on Friday. The company’s 50 day moving average price is $3.23 and its 200-day moving average price is $6.74. The company has a quick ratio of 6.80, a current ratio of 6.80 and a debt-to-equity ratio of 0.45. Skillz has a 52 week low of $2.07 and a 52 week high of $24.88. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of -5.71 and a beta of 1.81.

About Skillz (Get Rating)

Skillz Inc operates a mobile games platform that connects players worldwide. Its platform hosts casual esports tournaments. The company was founded in 2012 and is headquartered in San Francisco, California.

Read More

Get a free copy of the Zacks research report on Skillz (SKLZ)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Skillz (NYSE:SKLZ)

Receive News & Ratings for Skillz Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Skillz and related companies with MarketBeat.com's FREE daily email newsletter.