Skillz (NYSE:SKLZ) Issues Earnings Results

Skillz (NYSE:SKLZ) announced its quarterly earnings results on Tuesday. The company reported ($1.07) EPS for the quarter, missing the consensus estimate of ($1.03) by ($0.04), FiscalAI reports. Skillz had a negative net margin of 69.44% and a negative return on equity of 50.96%. The company had revenue of $30.01 million for the quarter, compared to analyst estimates of $26.00 million.

Skillz Stock Performance

Shares of Skillz stock traded up $0.30 during trading on Tuesday, reaching $2.58. The company’s stock had a trading volume of 73,091 shares, compared to its average volume of 52,918. Skillz has a one year low of $2.23 and a one year high of $9.11. The company has a debt-to-equity ratio of 1.00, a quick ratio of 4.32 and a current ratio of 4.32. The firm has a market cap of $38.98 million, a price-to-earnings ratio of -0.62 and a beta of 2.96. The business’s fifty day moving average price is $3.39 and its 200-day moving average price is $5.12.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. acquired a new position in shares of Skillz in the 1st quarter valued at $95,000. Acadian Asset Management LLC bought a new stake in Skillz in the first quarter valued at about $80,000. XTX Topco Ltd acquired a new position in Skillz in the second quarter worth about $112,000. Jane Street Group LLC raised its position in Skillz by 15.9% in the second quarter. Jane Street Group LLC now owns 27,282 shares of the company’s stock worth $186,000 after purchasing an additional 3,738 shares in the last quarter. Finally, Bridgeway Capital Management LLC bought a new position in Skillz during the second quarter worth about $93,000. 19.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Skillz in a research note on Wednesday, January 21st. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $15.00.

About Skillz

Skillz Inc (NYSE: SKLZ) operates a mobile e-sports platform that connects game developers, advertisers and players through skill-based competition. By integrating its software development kit into a variety of casual and midcore mobile titles, the company enables in-app tournaments and head-to-head matches in which users compete for virtual or cash prizes. Skillz’s marketplace also offers real-time leaderboards, live events and social features designed to enhance player engagement and retention.

The company’s core offering includes developer tools and analytics that help game studios monetize through entry fees, in-game purchases and ad revenue sharing.