Skillz (NYSE:SKLZ) Earns “Outperform” Rating from Wedbush

Skillz (NYSE:SKLZ)‘s stock had its “outperform” rating reiterated by analysts at Wedbush in a research note issued to investors on Friday,RTT News reports. They currently have a $15.00 price objective on the stock. Wedbush’s price objective points to a potential upside of 241.30% from the stock’s previous close.

Skillz Stock Down 14.0 %

Shares of Skillz stock opened at $4.40 on Friday. The company has a fifty day moving average price of $5.97 and a 200 day moving average price of $5.63. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.63. Skillz has a twelve month low of $4.33 and a twelve month high of $7.48. The stock has a market cap of $76.61 million, a price-to-earnings ratio of -1.95 and a beta of 2.74.

Skillz (NYSE:SKLZ) last posted its quarterly earnings data on Thursday, March 13th. The company reported ($1.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.61). The firm had revenue of $20.37 million during the quarter, compared to analysts’ expectations of $25.07 million. Skillz had a negative net margin of 40.87% and a negative return on equity of 38.95%. Equities research analysts forecast that Skillz will post -4.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Skillz

Institutional investors have recently modified their holdings of the stock. GSA Capital Partners LLP raised its stake in shares of Skillz by 36.5% in the 3rd quarter. GSA Capital Partners LLP now owns 160,801 shares of the company’s stock valued at $904,000 after purchasing an additional 42,998 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Skillz by 58.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 83,939 shares of the company’s stock worth $472,000 after acquiring an additional 30,903 shares during the period. R Squared Ltd acquired a new stake in Skillz during the fourth quarter worth about $35,000. Wealthquest Corp acquired a new stake in Skillz during the third quarter worth about $68,000. Finally, Two Sigma Advisers LP raised its stake in Skillz by 144.1% during the fourth quarter. Two Sigma Advisers LP now owns 27,610 shares of the company’s stock worth $139,000 after acquiring an additional 16,300 shares during the period. Institutional investors and hedge funds own 19.42% of the company’s stock.

About Skillz

Skillz Inc operates a mobile game platform in the United States and internationally. The company primarily develops and supports a proprietary online-hosted technology platform that enables independent game developers to host tournaments and provide competitive gaming activity to end-users. The company distributes games through direct app download from its website, as well as through third-party platforms.