Skillz Inc. [NYSE: SKLZ] stock went on a downward path that fall over -3.51% on Friday, amounting to a one-week price decrease of less than -6.30%. The company report on November 2, 2022 that Skillz Announces Q3 2022 Results.
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– Revenue of $60 million meets expectations.
– Net loss increased 30% sequentially1 due to non-cash impairment of intangible assets.
Over the last 12 months, SKLZ stock dropped by -91.45%. The one-year Skillz Inc. stock forecast points to a potential upside of 33.1. The average equity rating for SKLZ stock is currently 2.70, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $412.45 million, with 408.16 million shares outstanding and 280.21 million shares in the current float. Compared to the average trading volume of 7.71M shares, SKLZ stock reached a trading volume of 34701696 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 $1.45 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 2.70. 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.
BTIG Research have made an estimate for Skillz Inc. shares, keeping their opinion on the stock as Sell, with their previous recommendation back on October 12, 2022. While these analysts kept the previous recommendation, Canaccord Genuity dropped their target price from $5 to $1.50. The new note on the price target was released on August 04, 2022, representing the official price target for Skillz Inc. stock. Previously, the target price had yet another drop from $5 to $2.10, while Citigroup kept a Neutral rating on SKLZ stock. On February 24, 2022, analysts decreased their price target for SKLZ shares from 25 to 7.50.
The Average True Range (ATR) for Skillz Inc. is set at 0.10, with the Price to Sales ratio for SKLZ stock in the period of the last 12 months amounting to 1.09. The Price to Book ratio for the last quarter was 0.79, with the Price to Cash per share for the same quarter was set at 1.11.
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 -6.30. With this latest performance, SKLZ shares dropped by -9.77% in over the last four-week period, additionally sinking by -50.28% over the last 6 months – not to mention a drop of -91.45% 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 44.99, with the RSI for the last a single of trading hit 44.78, and the three-weeks RSI is set at 44.58 for Skillz Inc. [SKLZ]. The present Moving Average for the last 50 days of trading for this stock 1.1069, while it was recorded at 0.9990 for the last single week of trading, and 2.0440 for the last 200 days.
Insight into Skillz Inc. Fundamentals:
Skillz Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 8.60 and a Current Ratio set at 8.60.
Skillz Inc. [SKLZ] Insider Position Details
There are presently around $167 million, or 48.70% 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 5.90% of the total institutional ownership; WILDCAT CAPITAL MANAGEMENT, LLC, holding 21,632,157 shares of the stock with an approximate value of $21.09 million in SKLZ stocks shares; and BLACKROCK INC., currently with $20.72 million in SKLZ stock with ownership of nearly 84.233% of the company’s market capitalization.
99 institutional holders increased their position in Skillz Inc. [NYSE:SKLZ] by around 25,572,690 shares. Additionally, 105 investors decreased positions by around 22,256,485 shares, while 67 investors held positions by with 123,035,242 shares. The mentioned changes placed institutional holdings at 170,864,417 shares, according to the latest SEC report filing. SKLZ stock had 36 new institutional investments in for a total of 2,443,836 shares, while 38 institutional investors sold positions of 2,749,279 shares during the same period.