Citigroup lifts Skillz Inc. [SKLZ] price estimate. Who else is bullish?



Skillz Inc. [NYSE: SKLZ] closed the trading session at $1.38 on 07/26/22. The day’s price range saw the stock hit a low of $1.33, while the highest price level was $1.44. The company report on July 18, 2022 that Skillz Announces Date for Second 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 second quarter 2022 results after the close of the market on Wednesday, August 3, 2022.

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

The stocks have a year to date performance of -81.45 percent and weekly performance of -3.50 percent. The stock has been moved at -71.25 percent over the last six months. The stock has performed -9.21 percent around the most recent 30 days and changed -40.26 percent over the most recent 3-months.

If compared to the average trading volume of 10.12M shares, SKLZ reached to a volume of 5631525 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 0.12, with the Price to Sales ratio for SKLZ stock in the period of the last 12 months amounting to 1.58. 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 1.07.

SKLZ stock trade performance evaluation

Skillz Inc. [SKLZ] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.50. With this latest performance, SKLZ shares dropped by -9.21% in over the last four-week period, additionally sinking by -71.25% over the last 6 months – not to mention a drop of -90.78% 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 46.88, with the RSI for the last a single of trading hit 47.04, and the three-weeks RSI is set at 45.66 for Skillz Inc. [SKLZ]. The present Moving Average for the last 50 days of trading for this stock 1.5410, while it was recorded at 1.5120 for the last single week of trading, and 4.8377 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 $243 million, or 49.70% 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 6.10% of the total institutional ownership; WILDCAT CAPITAL MANAGEMENT, LLC, holding 21,632,157 shares of the stock with an approximate value of $31.37 million in SKLZ stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $23.31 million in SKLZ stock with ownership of nearly New of the company’s market capitalization.

126 institutional holders increased their position in Skillz Inc. [NYSE:SKLZ] by around 43,700,693 shares. Additionally, 114 investors decreased positions by around 29,983,844 shares, while 56 investors held positions by with 93,824,187 shares. The mentioned changes placed institutional holdings at 167,508,724 shares, according to the latest SEC report filing. SKLZ stock had 51 new institutional investments in for a total of 25,906,379 shares, while 60 institutional investors sold positions of 17,524,173 shares during the same period.