Market cap of Skillz Inc. [SKLZ] reaches 3.47B – now what?


Skillz Inc. [NYSE: SKLZ] stock went on a downward path that fall over -10.98% on Wednesday, amounting to a one-week price decrease of less than -13.94%. The company report on November 29, 2021 that Skillz to Participate in Wells Fargo TMT Summit.

Skillz Inc. (NYSE: SKLZ), the leading mobile games platform bringing fair and fun competition to players worldwide, announced that its CEO and founder, Andrew Paradise, will participate at the Wells Fargo Virtual Technology, Media, and Telecom Summit being held November 30 – December 2, 2021.

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Paradise will be participating in a fireside chat on December 2, 2021, at 10:20am PT / 1:20pm ET.

Over the last 12 months, SKLZ stock dropped by -44.87%. The one-year Skillz Inc. stock forecast points to a potential upside of 50.09. 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 $3.47 billion, with 395.05 million shares outstanding and 275.03 million shares in the current float. Compared to the average trading volume of 16.62M shares, SKLZ stock reached a trading volume of 15959710 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 $16.57 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 2.00. 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.

Citigroup have made an estimate for Skillz Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 03, 2021. While these analysts kept the previous recommendation, BTIG Research raised their target price to Neutral. The new note on the price target was released on October 27, 2021, representing the official price target for Skillz Inc. stock. Previously, the target price had yet another raise to $17, while RBC Capital Mkts analysts kept a Sector Perform rating on SKLZ stock.

The Average True Range (ATR) for Skillz Inc. is set at 0.86, with the Price to Sales ratio for SKLZ stock in the period of the last 12 months amounting to 10.12. The Price to Book ratio for the last quarter was 4.65, with the Price to Cash per share for the same quarter was set at 1.29.

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 -13.94. With this latest performance, SKLZ shares dropped by -31.31% in over the last four-week period, additionally sinking by -61.05% over the last 6 months – not to mention a drop of -44.87% 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 29.65, with the RSI for the last a single of trading hit 20.53, and the three-weeks RSI is set at 35.03 for Skillz Inc. [SKLZ]. The present Moving Average for the last 50 days of trading for this stock 10.33, while it was recorded at 9.33 for the last single week of trading, and 16.07 for the last 200 days.

Insight into Skillz Inc. Fundamentals:

Skillz Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.10 and a Current Ratio set at 7.10.

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Skillz Inc. [SKLZ] Insider Position Details

There are presently around $1,653 million, or 50.90% of SKLZ stock, in the hands of institutional investors. The top three institutional holders of SKLZ stocks are: ATLAS VENTURE ASSOCIATES XI, LLC with ownership of 23,284,403, which is approximately New of the company’s market cap and around 4.80% of the total institutional ownership; ATLAS VENTURE ASSOCIATES IX, LLC, holding 22,909,859 shares of the stock with an approximate value of $189.47 million in SKLZ stocks shares; and WILDCAT CAPITAL MANAGEMENT, LLC, currently with $175.87 million in SKLZ stock with ownership of nearly 0% of the company’s market capitalization.

144 institutional holders increased their position in Skillz Inc. [NYSE:SKLZ] by around 47,017,779 shares. Additionally, 103 investors decreased positions by around 47,763,037 shares, while 44 investors held positions by with 105,135,337 shares. The mentioned changes placed institutional holdings at 199,916,153 shares, according to the latest SEC report filing. SKLZ stock had 66 new institutional investments in for a total of 27,603,778 shares, while 44 institutional investors sold positions of 5,745,762 shares during the same period.