Skillz Inc. (NYSE:SKLZ) Receives Average Recommendation of “Hold” from Analysts

Skillz Inc. (NYSE:SKLZ – Get Rating) has received an average rating of “Hold” from the six brokerages that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $2.17.

Several brokerages recently commented on SKLZ. Wedbush reaffirmed an “outperform” rating and issued a $3.75 target price on shares of Skillz in a research note on Friday, March 31st. Stifel Nicolaus decreased their target price on shares of Skillz from $1.50 to $1.25 and set a “buy” rating on the stock in a research note on Monday, April 3rd.

Skillz Trading Up 2.0 %

Shares of SKLZ opened at $0.54 on Tuesday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 7.32 and a current ratio of 7.32. Skillz has a fifty-two week low of $0.45 and a fifty-two week high of $2.18. The firm has a 50 day moving average price of $0.59 and a 200-day moving average price of $0.71. The firm has a market cap of $229.44 million, a price-to-earnings ratio of -0.71 and a beta of 2.66.

Insider Buying and Selling at Skillz

In related news, CEO Andrew Paradise acquired 1,342,656 shares of Skillz stock in a transaction on Friday, May 12th. The shares were acquired at an average cost of $0.52 per share, with a total value of $698,181.12. Following the transaction, the chief executive officer now owns 10,299,303 shares in the company, valued at $5,355,637.56. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In the last ninety days, insiders have purchased 3,000,000 shares of company stock valued at $1,624,720. 27.33% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Cetera Advisor Networks LLC increased its stake in shares of Skillz by 13.5% in the 1st quarter. Cetera Advisor Networks LLC now owns 66,147 shares of the company’s stock worth $198,000 after acquiring an additional 7,850 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Skillz by 6.4% in the 1st quarter. JPMorgan Chase & Co. now owns 145,137 shares of the company’s stock worth $435,000 after acquiring an additional 8,733 shares in the last quarter. Royal Bank of Canada increased its stake in shares of Skillz by 18.1% in the 1st quarter. Royal Bank of Canada now owns 58,100 shares of the company’s stock worth $175,000 after acquiring an additional 8,906 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Skillz by 68.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 23,187 shares of the company’s stock worth $29,000 after acquiring an additional 9,426 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in shares of Skillz by 36.0% in the 1st quarter. International Assets Investment Management LLC now owns 37,750 shares of the company’s stock worth $113,000 after acquiring an additional 10,000 shares in the last quarter. 33.29% of the stock is currently owned by institutional investors.

Skillz Company Profile

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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.