Skillz Inc. (NYSE:SKLZ) Receives Consensus Recommendation of “Buy” from Analysts

Skillz Inc. (NYSE:SKLZGet Rating) has been assigned an average rating of “Buy” from the ten research firms that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered 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. Stifel Nicolaus lowered their price objective on shares of Skillz from $16.00 to $3.50 in a research report on Thursday, February 24th. Citigroup reduced their price target on shares of Skillz from $9.00 to $5.00 in a report on Tuesday, March 1st. Zacks Investment Research lowered shares of Skillz from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Wedbush reduced their price target on shares of Skillz from $25.00 to $7.50 and set an “outperform” rating for the company in a report on Thursday, February 24th.

In related news, Director Jerome Leon Bruckheimer acquired 101,215 shares of the firm’s stock in a transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Harry Sloan acquired 100,000 shares of the firm’s stock in a transaction on Monday, March 14th. The shares were bought at an average cost of $2.27 per share, for a total transaction of $227,000.00. The disclosure for this purchase can be found here. Corporate insiders own 27.33% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of SKLZ. Millennium Management LLC increased its position in Skillz by 190.6% during the third quarter. Millennium Management LLC now owns 1,714,928 shares of the company’s stock worth $16,841,000 after purchasing an additional 1,124,737 shares during the last quarter. Aurora Private Wealth Inc. increased its position in Skillz by 38.6% during the fourth quarter. Aurora Private Wealth Inc. now owns 29,995 shares of the company’s stock worth $223,000 after purchasing an additional 8,350 shares during the last quarter. Deutsche Bank AG increased its position in Skillz by 3,064.6% during the third quarter. Deutsche Bank AG now owns 240,477 shares of the company’s stock worth $2,362,000 after purchasing an additional 232,878 shares during the last quarter. Toth Financial Advisory Corp increased its position in Skillz by 945.5% during the fourth quarter. Toth Financial Advisory Corp now owns 4,914 shares of the company’s stock worth $37,000 after purchasing an additional 4,444 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its position in Skillz by 125.9% during the third quarter. Allianz Asset Management GmbH now owns 14,055,241 shares of the company’s stock worth $138,023,000 after purchasing an additional 7,832,795 shares during the last quarter. Institutional investors and hedge funds own 44.94% of the company’s stock.

Shares of Skillz stock traded up $0.11 during trading hours on Monday, reaching $1.82. The company’s stock had a trading volume of 12,011,784 shares, compared to its average volume of 11,301,485. The firm has a 50 day moving average price of $2.55 and a 200-day moving average price of $5.59. Skillz has a one year low of $1.39 and a one year high of $24.88. The company has a debt-to-equity ratio of 0.51, a current ratio of 7.12 and a quick ratio of 6.80. The stock has a market cap of $745.67 million, a P/E ratio of -2.72 and a beta of 2.01.

Skillz (NYSE:SKLZGet Rating) last released its quarterly earnings results on Wednesday, May 4th. The company reported ($0.37) EPS 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 firm had revenue of $93.44 million for the quarter, compared to analysts’ expectations of $90.87 million. During the same period in the prior year, the firm posted ($0.13) earnings per share. Skillz’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, sell-side analysts forecast that Skillz will post -0.79 EPS for the current fiscal year.

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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