Market Analysts see Skillz Inc. [SKLZ] gaining to $32. Time to buy?

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Skillz Inc. [NYSE: SKLZ] traded at a high on 02/05/21, posting a 12.13 gain after which it closed the day’ session at $43.72. The company report on February 4, 2021 that NFL and Skillz Sign Multi-Year Gaming Agreement.

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NFL Taps Skillz To Reach New Audiences and Expand Presence on Mobile.

The National Football League (NFL) is teaming up with Skillz (NYSE: SKLZ), the leading platform for fair, fun, and meaningful competition, to crowdsource a future mobile esport. As part of the agreement, the two sports organizations will host a global game developer challenge. Competing developers will have the opportunity to develop an NFL-themed mobile game. The game will be powered by the Skillz esports platform and will have joint marketing support from both the NFL and Skillz. The combination of the NFL brand and the Skillz platform will set the stage for the future of electronic sports competition.

The results of the trading session contributed to over 16835065 shares changing hands. Over the past one week, the price volatility of Skillz Inc. stands at 11.78% while the volatility over the past one month is 9.40%.

The market cap for SKLZ stock reached $12.75 billion, with 291.71 million shares outstanding and 67.18 million shares in the current float. Compared to the average trading volume of 5.18M shares, SKLZ reached a trading volume of 16835065 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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 3.28, with the Price to Sales ratio for SKLZ stock in the period of the last 12 months amounting to 64.69.

How has SKLZ stock performed recently?

Skillz Inc. [SKLZ] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 58.29. With this latest performance, SKLZ shares gained by 96.49% in over the last four-week period, additionally plugging by 305.19% 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 82.78, with the RSI for the last a single of trading hit 87.19, and the three-weeks RSI is set at 79.70 for Skillz Inc. [SKLZ]. The present Moving Average for the last 50 days of trading for this stock 22.51, while it was recorded at 34.04 for the last single week of trading.

Skillz Inc. [SKLZ]: Deeper insight into the fundamentals

Insider trade positions for Skillz Inc. [SKLZ]

There are presently around $4,467 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 $1.02 billion in SKLZ stocks shares; and T VENTURES MANAGEMENT CO, LTD., currently with $675.46 million in SKLZ stock with ownership of nearly New of the company’s market capitalization.

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87 institutional holders increased their position in Skillz Inc. [NYSE:SKLZ] by around 81,906,646 shares. Additionally, 39 investors decreased positions by around 17,933,354 shares, while 4 investors held positions by with 2,337,423 shares. The mentioned changes placed institutional holdings at 102,177,423 shares, according to the latest SEC report filing. SKLZ stock had 73 new institutional investments in for a total of 78,462,107 shares, while 21 institutional investors sold positions of 6,085,837 shares during the same period.

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