Skillz (NYSE:SKLZ) Rating Increased to Strong-Buy at Wedbush

Wedbush upgraded shares of Skillz (NYSE:SKLZ - Free Report) to a strong-buy rating in a research report released on Tuesday morning,Zacks.com reports. Wedbush also issued estimates for Skillz's Q2 2025 earnings at ($1.53) EPS, Q3 2025 earnings at ($1.43) EPS, Q4 2025 earnings at ($1.33) EPS, FY2025 earnings at ($5.21) EPS, Q1 2026 earnings at ($0.94) EPS, Q2 2026 earnings at ($1.35) EPS, Q3 2026 earnings at ($1.31) EPS, Q4 2026 earnings at ($1.28) EPS, FY2026 earnings at ($4.88) EPS and FY2027 earnings at ($4.67) EPS.

Separately, Wall Street Zen upgraded Skillz from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd.

Skillz Stock Performance

SKLZ traded up $0.07 during trading on Tuesday, reaching $7.34. 38,975 shares of the stock were exchanged, compared to its average volume of 82,436. The stock has a market cap of $127.94 million, a P/E ratio of -3.37 and a beta of 2.76. Skillz has a twelve month low of $3.54 and a twelve month high of $7.40. The stock's 50 day moving average price is $6.18 and its two-hundred day moving average price is $5.62.

Skillz (NYSE:SKLZ - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.92) EPS for the quarter, beating analysts' consensus estimates of ($1.09) by $0.17. The company had revenue of $22.41 million during the quarter, compared to the consensus estimate of $21.57 million. Skillz had a negative net margin of 39.33% and a negative return on equity of 35.10%. Equities research analysts predict that Skillz will post -4.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Skillz

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. bought a new stake in shares of Skillz during the 1st quarter worth about $95,000. Vista Cima Wealth Management LLC acquired a new stake in Skillz during the first quarter worth approximately $67,000. Acadian Asset Management LLC bought a new stake in shares of Skillz during the first quarter worth approximately $80,000. PDT Partners LLC boosted its holdings in shares of Skillz by 7.8% during 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 period. Finally, Trexquant Investment LP grew 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 purchasing an additional 25,405 shares during the last quarter. 19.42% of the stock is owned by institutional investors.

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.