Send me real-time posts from this site at my email
Zacks

Skillz Inc. (SKLZ) Stock Sinks As Market Gains: What You Should Know

Skillz Inc. (SKLZ) closed at $11.13 in the latest trading session, marking a -0.71% move from the prior day. This change lagged the S&P 500's daily gain of 0.23%.

Prior to today's trading, shares of the company had lost 1.23% over the past month. This has lagged the Consumer Discretionary sector's gain of 1.8% and the S&P 500's gain of 0.65% in that time.

SKLZ will be looking to display strength as it nears its next earnings release.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.61 per share and revenue of $390.23 million, which would represent changes of -48.78% and +69.58%, respectively, from the prior year.

Investors might also notice recent changes to analyst estimates for SKLZ. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. SKLZ is currently sporting a Zacks Rank of #3 (Hold).

The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 175, which puts it in the bottom 32% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


Tech IPOs With Massive Profit Potential: Last years top IPOs surged as much as 299% within the first two months. With record amounts of cash flooding into IPOs and a record-setting stock market, this year could be even more lucrative. 

See Zacks’ Hottest Tech IPOs Now >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Skillz Inc. (SKLZ): Free Stock Analysis Report
 
To read this article on Zacks.com click here.

Welcome! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue