Skillz Inc. [NYSE: SKLZ] stock went on a downward path that fall over -2.80% on Friday, amounting to a one-week price increase of more than 1.77%. 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 -88.61%. The one-year Skillz Inc. stock forecast points to a potential upside of 35.1. 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 $424.37 million, with 413.83 million shares outstanding and 281.34 million shares in the current float. Compared to the average trading volume of 8.60M shares, SKLZ stock reached a trading volume of 18835275 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 $1.51 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 0.09, with the Price to Sales ratio for SKLZ stock in the period of the last 12 months amounting to 1.26. The Price to Book ratio for the last quarter was 0.94, with the Price to Cash per share for the same quarter was set at 1.08.
SKLZ Stock Performance Analysis:
Skillz Inc. [SKLZ] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.77. With this latest performance, SKLZ shares gained by 2.20% in over the last four-week period, additionally sinking by -41.22% over the last 6 months – not to mention a drop of -88.61% 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 47.99, with the RSI for the last a single of trading hit 48.71, and the three-weeks RSI is set at 47.39 for Skillz Inc. [SKLZ]. The present Moving Average for the last 50 days of trading for this stock 1.0169, while it was recorded at 0.9571 for the last single week of trading, and 1.7293 for the last 200 days.
Insight into Skillz Inc. Fundamentals:
Skillz Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 9.30 and a Current Ratio set at 9.30.
Skillz Inc. [SKLZ] Insider Position Details
There are presently around $153 million, or 44.30% 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 3.70% of the total institutional ownership; BLACKROCK INC., holding 21,707,771 shares of the stock with an approximate value of $21.32 million in SKLZ stocks shares; and WILDCAT CAPITAL MANAGEMENT, LLC, currently with $21.24 million in SKLZ stock with ownership of nearly 0% of the company’s market capitalization.
71 institutional holders increased their position in Skillz Inc. [NYSE:SKLZ] by around 10,679,661 shares. Additionally, 108 investors decreased positions by around 26,122,787 shares, while 73 investors held positions by with 119,456,377 shares. The mentioned changes placed institutional holdings at 156,258,825 shares, according to the latest SEC report filing. SKLZ stock had 15 new institutional investments in for a total of 2,041,065 shares, while 41 institutional investors sold positions of 9,483,136 shares during the same period.