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

Skillz Inc. [NYSE: SKLZ] surged by $0.08 during the normal trading session on Friday and reaching a high of $0.808 during the day while it closed the day at $0.80. The company report on January 20, 2023 that Financial Executive Alex Mandel Joins Skillz’ Board of Directors.


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Seasoned CFO Brings Financial Expertise to Skillz.

Skillz (NYSE: SKLZ), the leading mobile games platform bringing fair competition to players worldwide, today announced that Alex Mandel, Chief Financial Officer of The Influential Network Inc., has joined its Board of Directors. Mandel will serve on the Audit Committee of the Board. Mandel replaces Vanna Mehta-Krantz, who is stepping down to focus on other work commitments. Skillz is thankful for her contributions to the company during her tenure.

Skillz Inc. stock has also gained 20.01% of its value over the past 7 days. However, SKLZ stock has declined by -9.17% in the 3 months of the year. Over the past six months meanwhile, it has lost -51.21% and gained 57.97% year-on date.

The market cap for SKLZ stock reached $302.64 million, with 413.83 million shares outstanding and 281.44 million shares in the current float. Compared to the average trading volume of 10.31M shares, SKLZ reached a trading volume of 9513967 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 $1.44 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 0.08, with the Price to Sales ratio for SKLZ stock in the period of the last 12 months amounting to 0.90. The Price to Book ratio for the last quarter was 0.77, with the Price to Cash per share for the same quarter was set at 1.23.

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 20.01. With this latest performance, SKLZ shares gained by 27.10% in over the last four-week period, additionally sinking by -51.21% over the last 6 months – not to mention a drop of -85.51% 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 61.90, with the RSI for the last a single of trading hit 72.67, and the three-weeks RSI is set at 54.90 for Skillz Inc. [SKLZ]. The present Moving Average for the last 50 days of trading for this stock 0.7966, while it was recorded at 0.7460 for the last single week of trading, and 1.3554 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 9.30 and a Current Ratio set at 9.30.

Skillz Inc. [SKLZ]: Insider Ownership positions

There are presently around $113 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 $17.37 million in SKLZ stocks shares; and WILDCAT CAPITAL MANAGEMENT, LLC, currently with $17.31 million in SKLZ stock with ownership of nearly 0% of the company’s market capitalization.

73 institutional holders increased their position in Skillz Inc. [NYSE:SKLZ] by around 10,618,762 shares. Additionally, 111 investors decreased positions by around 25,351,065 shares, while 64 investors held positions by with 104,981,815 shares. The mentioned changes placed institutional holdings at 140,951,642 shares, according to the latest SEC report filing. SKLZ stock had 19 new institutional investments in for a total of 2,097,701 shares, while 44 institutional investors sold positions of 8,652,327 shares during the same period.

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