Wall Street Zen Upgrades Skillz (NYSE:SKLZ) to "Hold"

Wall Street Zen upgraded shares of Skillz (NYSE:SKLZ - Free Report) from a sell rating to a hold rating in a report issued on Thursday.

Separately, Wedbush restated an "outperform" rating and set a $15.00 target price on shares of Skillz in a research report on Friday, March 14th.

Skillz Price Performance

NYSE:SKLZ traded up $0.32 during mid-day trading on Thursday, reaching $6.37. 33,751 shares of the company were exchanged, compared to its average volume of 86,203. Skillz has a 12 month low of $3.54 and a 12 month high of $7.48. The stock has a market cap of $111.04 million, a PE ratio of -2.83 and a beta of 2.71. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.63. The company has a fifty day moving average of $4.96 and a 200 day moving average of $5.36.

Skillz (NYSE:SKLZ - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.92) earnings per share for the quarter, beating analysts' consensus estimates of ($1.09) by $0.17. Skillz had a negative net margin of 40.87% and a negative return on equity of 38.95%. The business had revenue of $22.41 million during the quarter, compared to analyst estimates of $21.57 million. On average, research analysts anticipate that Skillz will post -4.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Skillz

A number of institutional investors and hedge funds have recently modified their holdings of SKLZ. Renaissance Technologies LLC boosted its stake in Skillz by 1.6% in the fourth quarter. Renaissance Technologies LLC now owns 404,825 shares of the company's stock valued at $2,036,000 after acquiring an additional 6,200 shares during the last quarter. Trexquant Investment LP lifted its holdings in Skillz by 56.5% during 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 in the last quarter. PDT Partners LLC grew its stake in Skillz by 7.8% in the first 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. Dimensional Fund Advisors LP increased its holdings in shares of Skillz by 136.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 28,823 shares of the company's stock worth $145,000 after acquiring an additional 16,622 shares in the last quarter. Finally, Two Sigma Advisers LP increased its holdings in shares of Skillz by 144.1% in the fourth quarter. Two Sigma Advisers LP now owns 27,610 shares of the company's stock worth $139,000 after acquiring an additional 16,300 shares in the last quarter. 19.42% of the stock is 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.