Skillz Inc. (NYSE:SKLZ) Given Consensus Rating of “Buy” by Brokerages

Skillz Inc. (NYSE:SKLZGet Rating) has received an average rating of “Buy” from the ten ratings firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $8.44.

A number of analysts recently commented on SKLZ shares. Citigroup lowered their target price on shares of Skillz from $9.00 to $5.00 in a research note on Tuesday, March 1st. Canaccord Genuity Group lowered their target price on shares of Skillz from $12.00 to $7.00 and set a “buy” rating for the company in a research note on Thursday, February 24th. Canaccord Genuity Group lowered their target price on shares of Skillz from $12.00 to $7.00 and set a “buy” rating for the company in a research note on Thursday, February 24th. Royal Bank of Canada lowered their target price on shares of Skillz from $12.00 to $2.50 and set a “sector perform” rating for the company in a research note on Thursday, February 24th. Finally, Wedbush lowered their target price on shares of Skillz from $25.00 to $7.50 and set an “outperform” rating for the company in a research note on Thursday, February 24th.

NYSE:SKLZ opened at $1.96 on Monday. Skillz has a fifty-two week low of $1.93 and a fifty-two week high of $24.88. The stock has a market capitalization of $803.04 million, a P/E ratio of -2.93 and a beta of 2.01. The company has a debt-to-equity ratio of 0.45, a quick ratio of 6.80 and a current ratio of 6.80. The company’s 50-day simple moving average is $2.65 and its 200-day simple moving average is $5.84.

Skillz (NYSE:SKLZGet Rating) last released its quarterly 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). The firm had revenue of $93.44 million during the quarter, compared to the consensus estimate of $90.87 million. Skillz had a negative net margin of 70.05% and a negative return on equity of 41.55%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.13) earnings per share. On average, research analysts forecast that Skillz will post -0.65 EPS for the current year.

In other news, Director Jerome Leon Bruckheimer bought 101,215 shares of the business’s stock in a transaction dated Monday, March 7th. The stock was purchased at an average cost of $2.46 per share, with a total value of $248,988.90. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Harry Sloan bought 100,000 shares of the business’s stock in a transaction dated Monday, March 14th. The shares were purchased 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. Insiders own 27.33% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. ARK Investment Management LLC increased its holdings in Skillz by 27.9% in the 4th quarter. ARK Investment Management LLC now owns 24,089,428 shares of the company’s stock worth $179,225,000 after acquiring an additional 5,253,320 shares in the last quarter. Wildcat Capital Management LLC boosted its position in shares of Skillz by 1.7% during the 4th quarter. Wildcat Capital Management LLC now owns 21,632,157 shares of the company’s stock valued at $160,943,000 after acquiring an additional 366,338 shares during the last quarter. Allianz Asset Management GmbH boosted its position in shares of Skillz by 125.9% during the 3rd quarter. Allianz Asset Management GmbH now owns 14,055,241 shares of the company’s stock valued at $138,023,000 after acquiring an additional 7,832,795 shares during the last quarter. BlackRock Inc. boosted its position in shares of Skillz by 4.3% during the 4th quarter. BlackRock Inc. now owns 11,458,817 shares of the company’s stock valued at $85,255,000 after acquiring an additional 471,365 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Skillz by 26.3% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,535,323 shares of the company’s stock valued at $48,623,000 after acquiring an additional 1,361,570 shares during the last quarter. 44.94% of the stock is owned by institutional investors.

About Skillz (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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