Skillz Inc. (NYSE:SKLZ) Receives $25.00 Average PT from Analysts

Posted by on Aug 6th, 2023

Shares of Skillz Inc. (NYSE:SKLZ – Get Free Report) have been assigned a consensus rating of “Hold” from the three research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and two have issued a buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $25.00.

Separately, Wedbush reissued an “outperform” rating and set a $20.00 target price on shares of Skillz in a research note on Thursday.

Insider Transactions at Skillz

In related news, CEO Andrew Paradise acquired 67,132 shares of the business’s stock in a transaction dated Friday, May 12th. The stock was bought at an average price of $10.40 per share, with a total value of $698,172.80. Following the acquisition, the chief executive officer now owns 514,965 shares in the company, valued at approximately $5,355,636. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders acquired 77,499 shares of company stock valued at $809,710 in the last ninety days. 22.67% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Skillz

Several large investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its holdings in Skillz by 2.2% during the 3rd quarter. BlackRock Inc. now owns 21,707,771 shares of the company’s stock valued at $22,143,000 after purchasing an additional 460,082 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Skillz by 19.8% during the 3rd quarter. Vanguard Group Inc. now owns 16,917,528 shares of the company’s stock valued at $17,255,000 after purchasing an additional 2,800,082 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Skillz during the 1st quarter valued at $48,225,000. State Street Corp lifted its holdings in Skillz by 23.6% during the 3rd quarter. State Street Corp now owns 11,619,316 shares of the company’s stock valued at $11,852,000 after purchasing an additional 2,220,497 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Skillz by 1.9% during the 1st quarter. Geode Capital Management LLC now owns 5,657,332 shares of the company’s stock valued at $3,356,000 after purchasing an additional 102,843 shares during the last quarter. Institutional investors and hedge funds own 51.22% of the company’s stock.

Skillz Stock Performance

Skillz stock opened at $10.50 on Thursday. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 1.08. Skillz has a 1 year low of $8.12 and a 1 year high of $43.59. The company has a market cap of $221.87 million, a PE ratio of -0.78 and a beta of 2.66. The company’s 50-day moving average is $11.08 and its two-hundred day moving average is $12.24.

Skillz (NYSE:SKLZ – Get Free Report) last posted its earnings results on Tuesday, May 9th. The company reported ($1.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.40) by ($0.40). Skillz had a negative return on equity of 50.28% and a negative net margin of 145.87%. The business had revenue of $44.38 million for the quarter, compared to the consensus estimate of $45.89 million. Equities analysts anticipate that Skillz will post -6.1 earnings per share for the current year.

About Skillz

(Get Free Report

Skillz Inc operates a mobile game platform in the United States and internationally. 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. The company distributes games through direct app download from its website, as well as through third-party platforms.

Read More

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.