Skillz (NYSE:SKLZ) Earns Outperform Rating from Wedbush

Wedbush reaffirmed their outperform rating on shares of Skillz (NYSE:SKLZ) in a research note published on Monday,Benzinga reports. Wedbush currently has a $15.00 price target on the stock.

Separately, Wall Street Zen raised Skillz from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd.

Skillz Stock Performance

SKLZ opened at $7.03 on Monday. The company’s 50-day simple moving average is $6.90 and its two-hundred day simple moving average is $5.94. Skillz has a 52-week low of $3.54 and a 52-week high of $9.06. The stock has a market capitalization of $122.52 million, a P/E ratio of -3.22 and a beta of 2.80.

Skillz (NYSE:SKLZ) last issued its earnings results on Thursday, May 8th. The company reported ($0.92) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.09) by $0.17. Skillz had a negative net margin of 39.33% and a negative return on equity of 35.10%. The company had revenue of $22.41 million for the quarter, compared to analysts’ expectations of $21.57 million. Research analysts forecast that Skillz will post -4.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Skillz

A number of large investors have recently made changes to their positions in the company. PDT Partners LLC grew its position in shares of Skillz by 7.8% during the 1st quarter. PDT Partners LLC now owns 30,275 shares of the company’s stock valued at $136,000 after acquiring an additional 2,200 shares during the period. Marshall Wace LLP lifted its position in Skillz by 13.1% during the fourth quarter. Marshall Wace LLP now owns 20,299 shares of the company’s stock valued at $102,000 after purchasing an additional 2,359 shares in the last quarter. Renaissance Technologies LLC lifted its position in Skillz by 1.6% during the fourth quarter. Renaissance Technologies LLC now owns 404,825 shares of the company’s stock valued at $2,036,000 after purchasing an additional 6,200 shares in the last quarter. Occudo Quantitative Strategies LP bought a new stake in Skillz during the fourth quarter valued at about $57,000. Finally, LPL Financial LLC purchased a new stake in Skillz in the fourth quarter worth about $74,000. 19.42% of the stock is currently owned by institutional investors.

Skillz Company Profile

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.