Jefferies slashes price target on Skillz Inc. [SKLZ] – find out why.

Skillz Inc. [NYSE: SKLZ] plunged by -$0.41 during the normal trading session on Friday and reaching a high of $18.34 during the day while it closed the day at $17.52. The company report on April 28, 2021 that Bronstein, Gewirtz & Grossman, LLC Notifies Investors of Skillz Inc. (SKLZ) Investigation.

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Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Skillz Inc. (“Skillz” or “the Company”) (NYSE:SKLZ). Investors who purchased Skillz securities are encouraged to obtain additional information and assist the investigation by visiting the firm’s site: www.bgandg.com


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The investigation concerns whether Skillz and certain of its officers and/or directors have violated federal securities laws.

Skillz Inc. stock has also loss -3.58% of its value over the past 7 days. However, SKLZ stock has declined by -36.57% in the 3 months of the year. Over the past six months meanwhile, it has gained 55.60% and lost -12.40% year-on date.

The market cap for SKLZ stock reached $7.10 billion, with 294.55 million shares outstanding and 149.42 million shares in the current float. Compared to the average trading volume of 18.27M shares, SKLZ reached a trading volume of 11612891 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $28.71 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 1.90. 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.

Jefferies have made an estimate for Skillz Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on April 23, 2021. While these analysts kept the previous recommendation, UBS raised their target price to Neutral. The new note on the price target was released on February 25, 2021, representing the official price target for Skillz Inc. stock. Previously, the target price had yet another raise to $32, while Canaccord Genuity analysts kept a Buy rating on SKLZ stock.

The Average True Range (ATR) for Skillz Inc. is set at 1.99, with the Price to Sales ratio for SKLZ stock in the period of the last 12 months amounting to 30.85. The Price to Book ratio for the last quarter was 21.90, with the Price to Cash per share for the same quarter was set at 0.65.

SKLZ stock trade performance evaluation

Skillz Inc. [SKLZ] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.58. With this latest performance, SKLZ shares dropped by -7.98% in over the last four-week period, additionally plugging by 55.60% over the last 6 months – not to mention a rise of 77.87% in the past year of trading.

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 45.17, with the RSI for the last a single of trading hit 47.60, and the three-weeks RSI is set at 43.95 for Skillz Inc. [SKLZ]. The present Moving Average for the last 50 days of trading for this stock 22.91, while it was recorded at 19.02 for the last single week of trading, and 18.44 for the last 200 days.

Skillz Inc. [SKLZ]: An insightful look at the core fundamentals

Skillz Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.80 and a Current Ratio set at 5.80.

Skillz Inc. [SKLZ]: Insider Ownership positions

There are presently around $2,709 million, or 49.30% 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 4.50% of the total institutional ownership; ATLAS VENTURE ASSOCIATES XI, LLC, holding 23,284,403 shares of the stock with an approximate value of $407.94 million in SKLZ stocks shares; and WILDCAT CAPITAL MANAGEMENT, LLC, currently with $375.51 million in SKLZ stock with ownership of nearly New of the company’s market capitalization.

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108 institutional holders increased their position in Skillz Inc. [NYSE:SKLZ] by around 138,505,719 shares. Additionally, 76 investors decreased positions by around 24,018,524 shares, while 5 investors held positions by with 7,876,783 shares. The mentioned changes placed institutional holdings at 154,647,460 shares, according to the latest SEC report filing. SKLZ stock had 81 new institutional investments in for a total of 108,220,977 shares, while 52 institutional investors sold positions of 18,016,515 shares during the same period.

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