Skillz (NYSE:SKLZ – Get Free Report) released its earnings results on Thursday. The company reported ($0.57) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.36) by $0.79, Zacks reports. Skillz had a negative return on equity of 48.43% and a negative net margin of 78.69%. The company had revenue of $25.30 million during the quarter, compared to the consensus estimate of $26.64 million. During the same quarter in the previous year, the company posted ($1.62) EPS.
Skillz Stock Down 3.5 %
Shares of NYSE:SKLZ traded down $0.22 during midday trading on Friday, hitting $6.10. 104,137 shares of the stock traded hands, compared to its average volume of 138,279. The stock has a market capitalization of $130.85 million, a PE ratio of -1.19 and a beta of 2.78. Skillz has a one year low of $3.96 and a one year high of $10.72. The business’s 50 day moving average is $6.73 and its two-hundred day moving average is $6.43.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on SKLZ shares. Jefferies Financial Group cut their price objective on shares of Skillz from $7.00 to $6.50 and set a “hold” rating for the company in a research note on Thursday, July 11th. Wedbush reiterated an “outperform” rating and issued a $15.00 price objective on shares of Skillz in a report on Friday. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Skillz presently has a consensus rating of “Hold” and an average target price of $10.25.
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.
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