Saturday, March 6, 2021

For Skillz Inc. [SKLZ], Analyst sees a rise to $32. What next?

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Skillz Inc. [NYSE: SKLZ] gained 7.57% on the last trading session, reaching $28.69 price per share at the time. The company report on January 14, 2021 that Liberty Global Ventures’ Mobile Esports Investment Closes Successful Public Market Debut.

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Skillz Marks the First Publicly-Traded Mobile Esports Platform and Liberty Global Ventures’ Most Recent Investment to Go Public.


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Liberty Global (Nasdaq: LBTYA, LBTYB and LBTYK), one of the world’s leading converged video, broadband and communications companies, through its Liberty Global Ventures (“LG Ventures”) investment arm, has seen the successful public debut of Skillz (NYSE: SKLZ), the leading mobile games platform.

Skillz Inc. represents 291.71 million in outstanding shares, while the company has a total market value of $8.37 billion with the latest information. SKLZ stock price has been found in the range of $27.56 to $29.94.

If compared to the average trading volume of 4.20M shares, SKLZ reached a trading volume of 8809437 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Skillz Inc. [SKLZ]:

Canaccord Genuity have made an estimate for Skillz Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 19, 2021. While these analysts kept the previous recommendation, Wells Fargo raised their target price to Equal Weight. The new note on the price target was released on January 15, 2021, representing the official price target for Skillz Inc. stock. Previously, the target price had yet another raise to $34, while Wedbush analysts kept a Outperform rating on SKLZ stock.

The Average True Range (ATR) for Skillz Inc. is set at 2.57, with the Price to Sales ratio for SKLZ stock in the period of the last 12 months amounting to 42.45.

Trading performance analysis for SKLZ stock

Skillz Inc. [SKLZ] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 17.10. With this latest performance, SKLZ shares gained by 26.22% in over the last four-week period, additionally plugging by 135.16% over the last 6 months.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SKLZ stock in for the last two-week period is set at 72.02, with the RSI for the last a single of trading hit 75.10, and the three-weeks RSI is set at 70.20 for Skillz Inc. [SKLZ]. The present Moving Average for the last 50 days of trading for this stock 18.23, while it was recorded at 26.51 for the last single week of trading.

Skillz Inc. [SKLZ]: A deeper dive into fundamental analysis

An analysis of insider ownership at Skillz Inc. [SKLZ]

There are presently around $1,142 million, or 29.80% of SKLZ stock, in the hands of institutional investors. The top three institutional holders of SKLZ stocks are: MILLENNIUM MANAGEMENT LLC with ownership of 5,250,600, which is approximately 36.581% of the company’s market cap and around 20.16% of the total institutional ownership; MORGAN STANLEY, holding 4,624,371 shares of the stock with an approximate value of $132.67 million in SKLZ stocks shares; and LH CAPITAL MARKETS, LLC, currently with $109.02 million in SKLZ stock with ownership of nearly 20.635% of the company’s market capitalization.

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83 institutional holders increased their position in Skillz Inc. [NYSE:SKLZ] by around 19,781,031 shares. Additionally, 34 investors decreased positions by around 17,929,200 shares, while 4 investors held positions by with 2,110,497 shares. The mentioned changes placed institutional holdings at 39,820,728 shares, according to the latest SEC report filing. SKLZ stock had 69 new institutional investments in for a total of 16,411,760 shares, while 18 institutional investors sold positions of 6,099,630 shares during the same period.

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