why Skillz Inc. [SKLZ] is a Good Choice for Investors After New Price Target of $3.29


Skillz Inc. [NYSE: SKLZ] plunged by -$0.11 during the normal trading session on Monday and reaching a high of $1.40 during the day while it closed the day at $1.27. The company report on June 30, 2022 that Skillz Hires Blackstone Executive Jason Roswig as President and CFO.

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Roswig Brings 20+ Years of Financial Experience Across Blackstone, McKinsey, and GE to Leading Mobile Gaming Platform.

Skillz (NYSE: SKLZ), the leading mobile games platform bringing fair and fun competition to players worldwide, announced today that veteran finance executive Jason Roswig has been hired as the company’s President and Chief Financial Officer (CFO). Roswig will join the company on August 8, 2022 from Blackstone, where he served as Managing Director. He will replace the current Skillz CFO, Ian Lee, who is stepping down to pursue other opportunities.

Skillz Inc. stock has also gained 0.79% of its value over the past 7 days. However, SKLZ stock has declined by -54.96% in the 3 months of the year. Over the past six months meanwhile, it has lost -78.97% and lost -82.93% year-on date.

The market cap for SKLZ stock reached $550.24 million, with 401.65 million shares outstanding and 286.50 million shares in the current float. Compared to the average trading volume of 10.91M shares, SKLZ reached a trading volume of 5864594 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 $3.29 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 0.15, with the Price to Sales ratio for SKLZ stock in the period of the last 12 months amounting to 1.40. The Price to Book ratio for the last quarter was 0.93, with the Price to Cash per share for the same quarter was set at 1.12.

SKLZ stock trade performance evaluation

Skillz Inc. [SKLZ] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.79. With this latest performance, SKLZ shares dropped by -34.87% in over the last four-week period, additionally sinking by -78.97% over the last 6 months – not to mention a drop of -92.85% 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 40.60, with the RSI for the last a single of trading hit 39.67, and the three-weeks RSI is set at 40.82 for Skillz Inc. [SKLZ]. The present Moving Average for the last 50 days of trading for this stock 1.6652, while it was recorded at 1.3740 for the last single week of trading, and 5.3080 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 7.10 and a Current Ratio set at 7.10.

Skillz Inc. [SKLZ]: Insider Ownership positions

There are presently around $214 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 $27.47 million in SKLZ stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $20.41 million in SKLZ stock with ownership of nearly New of the company’s market capitalization.

130 institutional holders increased their position in Skillz Inc. [NYSE:SKLZ] by around 44,991,250 shares. Additionally, 114 investors decreased positions by around 35,158,112 shares, while 52 investors held positions by with 88,381,891 shares. The mentioned changes placed institutional holdings at 168,531,253 shares, according to the latest SEC report filing. SKLZ stock had 52 new institutional investments in for a total of 26,959,441 shares, while 57 institutional investors sold positions of 16,277,796 shares during the same period.