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

In the latest trading session, Skillz Inc. (SKLZ) closed at $14.78, marking a +1.65% move from the previous day. This change outpaced the S&P 500's 1.59% loss on the day.

Coming into today, shares of the company had lost 23.99% in the past month. In that same time, the Consumer Discretionary sector lost 2.41%, while the S&P 500 gained 2.53%.

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

SKLZ's full-year Zacks Consensus Estimates are calling for earnings of -$0.51 per share and revenue of $376.78 million. These results would represent year-over-year changes of -24.39% and +63.74%, respectively.

Any recent changes to analyst estimates for SKLZ should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

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 holding a Zacks Rank of #3 (Hold) right now.

The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 103, which puts it in the top 41% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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