Market cap of Skillz Inc. [SKLZ] reaches 9.12B – now what?

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Skillz Inc. [NYSE: SKLZ] price surged by 8.35 percent to reach at $2.41. The company report on January 28, 2021 that Play Mechanix Partners with Skillz to Bring Mobile Competition to Legendary First-Person Shooter Big Buck Hunter.

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Partnership Expands Big Buck Hunter’s Reach to Skillz’s Millions of Competitive Mobile Gamers.


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The legendary arcade franchise Big Buck Hunter is coming to mobile with a new game built exclusively for Skillz (NYSE: SKLZ), the leading mobile games platform for fair, fun, and meaningful competition. The partnership will broaden the franchise’s fan base, reaching millions of mobile gamers competing on the Skillz platform. It also marks Skillz’s expansion into the first-person shooter (FPS) genre, one of the most popular categories in modern gaming.

A sum of 5358245 shares traded at recent session while its average daily volume was at 4.78M shares. Skillz Inc. shares reached a high of $31.90 and dropped to a low of $29.00 until finishing in the latest session at $31.27.

The one-year SKLZ stock forecast points to a potential downside of -4.93. The average equity rating for SKLZ stock is currently 1.40, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Skillz Inc. [SKLZ]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SKLZ shares is $29.80 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SKLZ stock is a recommendation set at 1.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

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 2.38, with the Price to Sales ratio for SKLZ stock in the period of the last 12 months amounting to 46.27.

SKLZ Stock Performance Analysis:

Skillz Inc. [SKLZ] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 14.63. With this latest performance, SKLZ shares gained by 71.81% in over the last four-week period, additionally plugging by 193.62% 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 68.76, with the RSI for the last a single of trading hit 70.87, and the three-weeks RSI is set at 67.68 for Skillz Inc. [SKLZ]. The present Moving Average for the last 50 days of trading for this stock 21.39, while it was recorded at 28.34 for the last single week of trading.

Insight into Skillz Inc. Fundamentals:

Skillz Inc. [SKLZ] Insider Position Details

There are presently around $2,713 million, or 29.80% of SKLZ stock, in the hands of institutional investors. The top three institutional holders of SKLZ stocks are: ATLAS VENTURE ASSOCIATES IX, LLC with ownership of 23,284,403, which is approximately New of the company’s market cap and around 20.16% of the total institutional ownership; ATLAS VENTURE ASSOCIATES XI, LLC, holding 23,284,403 shares of the stock with an approximate value of $728.1 million in SKLZ stocks shares; and MILLENNIUM MANAGEMENT LLC, currently with $164.19 million in SKLZ stock with ownership of nearly 36.581% of the company’s market capitalization.

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86 institutional holders increased their position in Skillz Inc. [NYSE:SKLZ] by around 66,438,758 shares. Additionally, 37 investors decreased positions by around 17,862,254 shares, while 4 investors held positions by with 2,459,923 shares. The mentioned changes placed institutional holdings at 86,760,935 shares, according to the latest SEC report filing. SKLZ stock had 71 new institutional investments in for a total of 62,987,595 shares, while 19 institutional investors sold positions of 6,014,737 shares during the same period.

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