Skillz (NYSE:SKLZ) Earns "Sell (D-)" Rating from Weiss Ratings

Key Points

• Skillz's stock has received a "Sell (D-)" rating from Weiss Ratings, reinstating concerns about its performance.
• Despite the negative rating from Weiss, Wedbush maintains an "outperform" rating with a target price of $15.00 for Skillz shares.
• In its latest earnings report, Skillz reported a revenue of $27.37 million, exceeding analysts' estimates, but posted an EPS of ($1.12), indicating significant challenges ahead.

Skillz (NYSE:SKLZ - Get Free Report)'s stock had its "sell (d-)" rating restated by Weiss Ratings in a research report issued on Friday,Weiss Ratings reports.

Separately, Wedbush reiterated an "outperform" rating and issued a $15.00 target price on shares of Skillz in a research note on Monday, August 4th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Skillz currently has a consensus rating of "Hold" and a consensus target price of $15.00.

Skillz Stock Performance

NYSE SKLZ opened at $7.61 on Friday. Skillz has a 52-week low of $3.54 and a 52-week high of $9.11. The company has a 50-day simple moving average of $7.76 and a 200 day simple moving average of $6.82. The company has a market capitalization of $132.69 million, a PE ratio of -1.81 and a beta of 2.98.

Skillz (NYSE:SKLZ - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($1.12) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.34) by $0.22. Skillz had a negative net margin of 75.38% and a negative return on equity of 39.99%. The business had revenue of $27.37 million during the quarter, compared to the consensus estimate of $22.80 million. As a group, analysts forecast that Skillz will post -4.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Skillz

Large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. bought a new position in shares of Skillz in the first quarter valued at approximately $95,000. Vista Cima Wealth Management LLC bought a new position in shares of Skillz in the first quarter valued at approximately $67,000. Trexquant Investment LP boosted its position in shares of Skillz by 56.5% in the first quarter. Trexquant Investment LP now owns 70,330 shares of the company's stock valued at $316,000 after acquiring an additional 25,405 shares during the period. Jane Street Group LLC boosted its position in shares of Skillz by 15.9% in the second quarter. Jane Street Group LLC now owns 27,282 shares of the company's stock valued at $186,000 after acquiring an additional 3,738 shares during the period. Finally, XTX Topco Ltd bought a new position in shares of Skillz in the second quarter valued at approximately $112,000. 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.

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