Wedbush Reaffirms Outperform Rating for Skillz (NYSE:SKLZ)

Skillz (NYSE:SKLZ)‘s stock had its “outperform” rating reissued by equities research analysts at Wedbush in a research note issued to investors on Friday, Benzinga reports. They presently have a $15.00 price objective on the stock. Wedbush’s price target suggests a potential upside of 144.70% from the stock’s current price.

Separately, Jefferies Financial Group decreased their target price on Skillz from $7.00 to $6.50 and set a “hold” rating for the company in a report on Thursday, July 11th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Skillz has a consensus rating of “Hold” and a consensus target price of $10.25.

Skillz Trading Down 3.0 %

Shares of NYSE SKLZ traded down $0.19 on Friday, reaching $6.13. 16,213 shares of the company traded hands, compared to its average volume of 137,685. Skillz has a fifty-two week low of $3.96 and a fifty-two week high of $10.72. The company has a 50 day moving average of $6.74 and a 200 day moving average of $6.42. The stock has a market capitalization of $131.49 million, a PE ratio of -1.20 and a beta of 2.78.

Skillz (NYSE:SKLZ) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.57) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.36) by $0.79. The company had revenue of $25.30 million during the quarter, compared to analysts’ expectations of $26.64 million. Skillz had a negative net margin of 78.69% and a negative return on equity of 48.43%. During the same period in the previous year, the company earned ($1.62) EPS. As a group, research analysts expect that Skillz will post -5.07 earnings per share for the current year.

Institutional Trading of Skillz

Several large investors have recently added to or reduced their stakes in the stock. Jacobs Levy Equity Management Inc. boosted its position in shares of Skillz by 227.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 97,829 shares of the company’s stock worth $635,000 after buying an additional 67,966 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Skillz by 16.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,592 shares of the company’s stock valued at $225,000 after buying an additional 4,800 shares during the period. Finally, Trexquant Investment LP lifted its position in Skillz by 82.4% during the 4th quarter. Trexquant Investment LP now owns 121,587 shares of the company’s stock worth $759,000 after acquiring an additional 54,930 shares in the last quarter. 19.42% of the stock is currently owned by institutional investors and hedge funds.

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.