For Skillz Inc. [SKLZ], Analyst sees a drop to $7.50. What next?

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Skillz Inc. [NYSE: SKLZ] gained 9.27% or 0.19 points to close at $2.24 with a heavy trading volume of 13095713 shares. The company report on April 18, 2022 that Skillz Announces Date for First Quarter 2022 Results.

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Skillz Inc. (NYSE: SKLZ) (“Skillz”), the leading mobile games platform bringing fair and fun competition to players worldwide, today announced that it will release its first quarter 2022 results after the close of the market on Wednesday, May 4, 2022.

Skillz will post a stockholder letter discussing the first quarter results on its investor relations website at https://investors.skillz.com. A live question and answer (Q&A) conference call and audio webcast with analysts and investors will begin at 5:30pm Eastern Time (ET).

It opened the trading session at $2.04, the shares rose to $2.24 and dropped to $1.99, the range by which the price of stock traded the whole day. The daily chart for SKLZ points out that the company has recorded -79.96% loss over the past six months. However, it is still -12.56% lower than its most recent low trading price.

If we look at the average trading volume of 14.34M shares, SKLZ reached to a volume of 13095713 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $4.57 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 2.10. 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.

Wedbush have made an estimate for Skillz Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on February 24, 2022. While these analysts kept the previous recommendation, RBC Capital Mkts raised their target price from $12 to $2.50. The new note on the price target was released on February 24, 2022, representing the official price target for Skillz Inc. stock. Previously, the target price had yet another drop from $12 to $7, while Canaccord Genuity kept a Buy rating on SKLZ stock.

The Average True Range (ATR) for Skillz Inc. is set at 0.24, with the Price to Sales ratio for SKLZ stock in the period of the last 12 months amounting to 2.55. The Price to Book ratio for the last quarter was 1.44, with the Price to Cash per share for the same quarter was set at 1.28.

Trading performance analysis for SKLZ stock

Skillz Inc. [SKLZ] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.03. With this latest performance, SKLZ shares dropped by -25.33% in over the last four-week period, additionally sinking by -79.96% over the last 6 months – not to mention a drop of -86.44% 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 41.68, with the RSI for the last a single of trading hit 43.64, and the three-weeks RSI is set at 40.74 for Skillz Inc. [SKLZ]. The present Moving Average for the last 50 days of trading for this stock 2.77, while it was recorded at 2.14 for the last single week of trading, and 7.78 for the last 200 days.

Skillz Inc. [SKLZ]: A deeper dive into fundamental analysis

Skillz Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.80 and a Current Ratio set at 6.80.

An analysis of insider ownership at Skillz Inc. [SKLZ]

There are presently around $345 million, or 43.70% 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 22,909,859, which is approximately 0% of the company’s market cap and around 5.00% of the total institutional ownership; WILDCAT CAPITAL MANAGEMENT, LLC, holding 21,632,157 shares of the stock with an approximate value of $48.46 million in SKLZ stocks shares; and VANGUARD GROUP INC, currently with $33.38 million in SKLZ stock with ownership of nearly 11.554% of the company’s market capitalization.

121 institutional holders increased their position in Skillz Inc. [NYSE:SKLZ] by around 13,656,189 shares. Additionally, 126 investors decreased positions by around 42,694,795 shares, while 46 investors held positions by with 97,625,907 shares. The mentioned changes placed institutional holdings at 153,976,891 shares, according to the latest SEC report filing. SKLZ stock had 46 new institutional investments in for a total of 4,016,498 shares, while 55 institutional investors sold positions of 26,184,719 shares during the same period.