RBC Capital Mkts slashes price target on Skillz Inc. [SKLZ] – find out why.

Skillz Inc. [NYSE: SKLZ] stock went on an upward path that rose over 4.35% on Tuesday, amounting to a one-week price decrease of less than -3.34%. The company report on September 23, 2021 that Skillz Declares Open Season for Big Buck Hunters! Legendary First-person Shooter Franchise Expands With New Big Buck Hunter: Marksman Game, No. 3 in Sports Exclusively on Skillz.

Millions of Buck Hunters Aim for Victory with “Marksman” Game During All-New, Skillz-Powered Esports Tournament at 14th Annual “Big Buck Hunter” World Championship, October 1-2 in Chicago.

First Mobile Division Tournament Open to Players Everywhere with Champion “Marksman” Winning $5,000 Grand Prize!.

Over the last 12 months, SKLZ stock dropped by -39.78%. The average equity rating for SKLZ stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $3.72 billion, with 385.94 million shares outstanding and 275.03 million shares in the current float. Compared to the average trading volume of 15.87M shares, SKLZ stock reached a trading volume of 11841826 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Skillz Inc. [SKLZ]:

RBC Capital Mkts have made an estimate for Skillz Inc. shares, keeping their opinion on the stock as Sector Perform, with their previous recommendation back on July 28, 2021. While these analysts kept the previous recommendation, Jefferies raised their target price to Hold. The new note on the price target was released on April 23, 2021, representing the official price target for Skillz Inc. stock. Previously, the target price had yet another raise to $34, while UBS analysts kept a Neutral rating on SKLZ stock.

The Average True Range (ATR) for Skillz Inc. is set at 0.60, with the Price to Sales ratio for SKLZ stock in the period of the last 12 months amounting to 12.36. The Price to Book ratio for the last quarter was 6.04, with the Price to Cash per share for the same quarter was set at 1.56.

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 -3.34. With this latest performance, SKLZ shares dropped by -24.53% in over the last four-week period, additionally sinking by -46.56% over the last 6 months – not to mention a drop of -39.78% 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 31.74, with the RSI for the last a single of trading hit 30.38, and the three-weeks RSI is set at 33.56 for Skillz Inc. [SKLZ]. The present Moving Average for the last 50 days of trading for this stock 10.88, while it was recorded at 8.37 for the last single week of trading, and 19.27 for the last 200 days.

Insight into Skillz Inc. Fundamentals:

Skillz Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.70 and a Current Ratio set at 5.70.

Skillz Inc. [SKLZ] Insider Position Details

There are presently around $1,881 million, or 57.80% of SKLZ stock, in the hands of institutional investors. The top three institutional holders of SKLZ stocks are: MORGAN STANLEY with ownership of 32,739,214, which is approximately -3.11% of the company’s market cap and around 0.90% of the total institutional ownership; ARK INVESTMENT MANAGEMENT LLC, holding 24,603,886 shares of the stock with an approximate value of $206.67 million in SKLZ stocks shares; and ATLAS VENTURE ASSOCIATES XI, LLC, currently with $195.59 million in SKLZ stock with ownership of nearly New of the company’s market capitalization.

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152 institutional holders increased their position in Skillz Inc. [NYSE:SKLZ] by around 86,779,404 shares. Additionally, 92 investors decreased positions by around 31,555,795 shares, while 37 investors held positions by with 105,630,600 shares. The mentioned changes placed institutional holdings at 223,965,799 shares, according to the latest SEC report filing. SKLZ stock had 88 new institutional investments in for a total of 43,954,247 shares, while 57 institutional investors sold positions of 9,936,607 shares during the same period.

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