Skillz Inc. [SKLZ] Revenue clocked in at $269.70 million, up 15.16% YTD: What’s Next?

Skillz Inc. [NYSE: SKLZ] traded at a low on 04/24/23, posting a -6.30 loss after which it closed the day’ session at $0.58. The company report on March 30, 2023 at 4:05 PM that Skillz Announces Q4 2022 and Fiscal Year 2022 Results.

– Fourth Quarter Revenue of $46.9 million, Net Loss of $143.5 million.

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The results of the trading session contributed to over 4466297 shares changing hands. Over the past one week, the price volatility of Skillz Inc. stands at 10.78% while the volatility over the past one month is 10.53%.

The market cap for SKLZ stock reached $237.91 million, with 416.10 million shares outstanding and 288.39 million shares in the current float. Compared to the average trading volume of 8.05M shares, SKLZ reached a trading volume of 4466297 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Skillz Inc. [SKLZ]?

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 0.07, with the Price to Sales ratio for SKLZ stock in the period of the last 12 months amounting to 0.88. The Price to Book ratio for the last quarter was 0.87, with the Price to Cash per share for the same quarter was set at 1.20.

How has SKLZ stock performed recently?

Skillz Inc. [SKLZ] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -20.23. With this latest performance, SKLZ shares gained by 13.00% in over the last four-week period, additionally sinking by -45.49% over the last 6 months – not to mention a drop of -73.12% 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 44.91, with the RSI for the last a single of trading hit 40.91, and the three-weeks RSI is set at 46.22 for Skillz Inc. [SKLZ]. The present Moving Average for the last 50 days of trading for this stock 0.6217, while it was recorded at 0.6513 for the last single week of trading, and 0.9681 for the last 200 days.

Skillz Inc. [SKLZ]: Deeper insight into the fundamentals

Skillz Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 10.10 and a Current Ratio set at 10.10.

Insider trade positions for Skillz Inc. [SKLZ]

There are presently around $93 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 22,890,590 shares of the stock with an approximate value of $14.26 million in SKLZ stocks shares; and WILDCAT CAPITAL MANAGEMENT, LLC, currently with $13.48 million in SKLZ stock with ownership of nearly 0% of the company’s market capitalization.

77 institutional holders increased their position in Skillz Inc. [NYSE:SKLZ] by around 18,095,557 shares. Additionally, 87 investors decreased positions by around 9,642,512 shares, while 64 investors held positions by with 121,655,632 shares. The mentioned changes placed institutional holdings at 149,393,701 shares, according to the latest SEC report filing. SKLZ stock had 31 new institutional investments in for a total of 6,582,223 shares, while 31 institutional investors sold positions of 4,187,886 shares during the same period.

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