Skillz Inc. [NYSE: SKLZ] stock went on a downward path that fall over -8.50% on Thursday, amounting to a one-week price decrease of less than -16.34%. The company report on February 25, 2021 that Skillz Announces Date for Fourth Quarter and Full-year 2020 Results.
Skillz Inc. (NYSE: SKLZ), the leading mobile games platform connecting players in fair, fun, and meaningful competition, announced that it will release its fourth quarter and full-year 2020 financial results on March 10, 2021 after the end of trading on the New York Stock Exchange.
Skillz will host a conference call and audio webcast on March 10, 2021 at 5pm Eastern Time, during which management will discuss the fourth quarter results and provide commentary on business performance. A question and answer session with analysts and investors will follow the prepared remarks.
The one-year Skillz Inc. stock forecast points to a potential upside of 1.15. The average equity rating for SKLZ stock is currently 1.50, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $8.79 billion, with 291.71 million shares outstanding and 102.31 million shares in the current float. Compared to the average trading volume of 6.18M shares, SKLZ stock reached a trading volume of 5842286 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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 $30.50 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 1.50. 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.
UBS have made an estimate for Skillz Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 25, 2021. While these analysts kept the previous recommendation, Canaccord Genuity raised their target price to Buy. The new note on the price target was released on January 19, 2021, representing the official price target for Skillz Inc. stock. Previously, the target price had yet another raise to $28, while Wells Fargo analysts kept a Equal Weight rating on SKLZ stock.
The Average True Range (ATR) for Skillz Inc. is set at 3.51, with the Price to Sales ratio for SKLZ stock in the period of the last 12 months amounting to 44.61.
SKLZ Stock Performance Analysis:
Skillz Inc. [SKLZ] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -16.34. With this latest performance, SKLZ shares gained by 1.41% in over the last four-week period, additionally plugging by 177.11% 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 45.11, with the RSI for the last a single of trading hit 38.12, and the three-weeks RSI is set at 49.45 for Skillz Inc. [SKLZ]. The present Moving Average for the last 50 days of trading for this stock 27.72, while it was recorded at 32.46 for the last single week of trading, and 15.89 for the last 200 days.
Insight into Skillz Inc. Fundamentals:
Skillz Inc. [SKLZ] Insider Position Details
There are presently around $4,644 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 $702.02 million in SKLZ stocks shares; and WILDCAT CAPITAL MANAGEMENT, LLC, currently with $646.21 million in SKLZ stock with ownership of nearly New of the company’s market capitalization.
84 institutional holders increased their position in Skillz Inc. [NYSE:SKLZ] by around 138,763,227 shares. Additionally, 75 investors decreased positions by around 24,202,347 shares, while 3 investors held positions by with 8,936,909 shares. The mentioned changes placed institutional holdings at 154,028,665 shares, according to the latest SEC report filing. SKLZ stock had 63 new institutional investments in for a total of 108,278,124 shares, while 54 institutional investors sold positions of 18,281,622 shares during the same period.