Wall Street Analyst Downgrade Skillz Inc. [SKLZ]. What else is Wall St. saying


Skillz Inc. [NYSE: SKLZ] gained 2.21% on the last trading session, reaching $1.39 price per share at the time. The company report on May 12, 2022 that Shari Glazer, CEO of Kalos Labs and Founder of US Digital Trust, Joins Skillz Board of Directors.

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The Globally-Recognized Philanthropist, Entrepreneur, and Owner of the Tampa Bay Buccaneers and Manchester United Joins Skillz Board as Its Second Woman Director.

Skillz (NYSE: SKLZ), the leading mobile games platform bringing fair and fun competition to players worldwide, today announced that Shari Glazer, entrepreneur and a globally-recognized philanthropist, has joined its board of directors. Shari serves as the second woman director to be elected to the Skillz board of directors, which now includes eight board members.

Skillz Inc. represents 401.65 million in outstanding shares, while the company has a total market value of $544.14 million with the latest information. SKLZ stock price has been found in the range of $1.37 to $1.48.

If compared to the average trading volume of 10.83M shares, SKLZ reached a trading volume of 8913319 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 $3.37 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 Neutral, with their previous recommendation back on May 23, 2022. While these analysts kept the previous recommendation, Wedbush raised their target price from $25 to $7.50. 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 $2.50, while RBC Capital Mkts kept a Sector Perform rating on SKLZ stock. On February 24, 2022, analysts decreased their price target for SKLZ shares from 12 to 7.

The Average True Range (ATR) for Skillz Inc. is set at 0.18, with the Price to Sales ratio for SKLZ stock in the period of the last 12 months amounting to 1.38. The Price to Book ratio for the last quarter was 1.01, with the Price to Cash per share for the same quarter was set at 1.24.

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 -1.42. With this latest performance, SKLZ shares dropped by -28.35% in over the last four-week period, additionally sinking by -82.80% over the last 6 months – not to mention a drop of -92.76% 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 40.22, with the RSI for the last a single of trading hit 39.68, and the three-weeks RSI is set at 40.40 for Skillz Inc. [SKLZ]. The present Moving Average for the last 50 days of trading for this stock 1.9256, while it was recorded at 1.3540 for the last single week of trading, and 5.9509 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 7.10 and a Current Ratio set at 7.10.

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

There are presently around $229 million, or 49.60% 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 6.10% of the total institutional ownership; WILDCAT CAPITAL MANAGEMENT, LLC, holding 21,632,157 shares of the stock with an approximate value of $29.42 million in SKLZ stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $21.86 million in SKLZ stock with ownership of nearly New of the company’s market capitalization.

129 institutional holders increased their position in Skillz Inc. [NYSE:SKLZ] by around 45,003,503 shares. Additionally, 116 investors decreased positions by around 59,270,223 shares, while 53 investors held positions by with 64,249,779 shares. The mentioned changes placed institutional holdings at 168,523,505 shares, according to the latest SEC report filing. SKLZ stock had 53 new institutional investments in for a total of 26,968,441 shares, while 58 institutional investors sold positions of 40,389,538 shares during the same period.