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

Key Points

• Skillz (NYSE:SKLZ) has received a "Sell (D-)" rating from Weiss Ratings, reflecting ongoing concerns about the company's stock performance.
• Despite a beat on quarterly earnings with EPS of ($1.12) against estimates of ($1.34), Skillz reported a significant negative net margin of 75.38%.
• The consensus price target for Skillz stock remains at $15.00, with one analyst rating it a Buy and another a Sell.

Skillz (NYSE:SKLZ - Get Free Report)'s stock had its "sell (d-)" rating restated by equities researchers at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

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

Skillz Stock Performance

Shares of NYSE SKLZ traded down $0.05 during trading on Wednesday, hitting $7.88. The company had a trading volume of 43,292 shares, compared to its average volume of 73,178. The company has a market cap of $137.35 million, a P/E ratio of -1.88 and a beta of 2.98. Skillz has a 52 week low of $3.54 and a 52 week high of $9.11. The business's 50-day moving average is $7.85 and its 200 day moving average is $6.58.

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

Hedge Funds Weigh In On Skillz

A number of hedge funds have recently modified their holdings of SKLZ. Trexquant Investment LP increased its stake in shares of Skillz by 56.5% in the first quarter. Trexquant Investment LP now owns 70,330 shares of the company's stock worth $316,000 after acquiring an additional 25,405 shares during the last quarter. Vista Cima Wealth Management LLC acquired a new position in shares of Skillz in the first quarter worth $67,000. PDT Partners LLC increased its stake in shares of Skillz by 7.8% in the first quarter. PDT Partners LLC now owns 30,275 shares of the company's stock worth $136,000 after acquiring an additional 2,200 shares during the last quarter. Goldman Sachs Group Inc. acquired a new position in shares of Skillz in the first quarter worth $95,000. Finally, Acadian Asset Management LLC acquired a new position in shares of Skillz in the first quarter worth $80,000. 19.42% of the stock is owned by institutional investors and hedge funds.

About Skillz

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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