Skillz’s (SKLZ) Outperform Rating Reiterated at Wedbush

Wedbush restated their outperform rating on shares of Skillz (NYSE:SKLZ) in a research report released on Friday morning,RTT News reports. Wedbush currently has a $15.00 price objective on the stock.

Skillz Price Performance

SKLZ stock opened at $4.40 on Friday. Skillz has a 52-week low of $4.33 and a 52-week high of $7.48. The stock’s fifty day simple moving average is $5.97 and its 200-day simple moving average is $5.62. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.63. The stock has a market capitalization 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 (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.61). Skillz had a negative return on equity of 38.95% and a negative net margin of 40.87%. The business had revenue of $20.37 million for the quarter, compared to analyst estimates of $25.07 million. Equities research analysts expect that Skillz will post -4.35 EPS for the current year.

Institutional Investors Weigh In On Skillz

Several hedge funds have recently made changes to their positions in the business. Marshall Wace LLP boosted its holdings in Skillz by 13.1% in the fourth quarter. Marshall Wace LLP now owns 20,299 shares of the company’s stock valued at $102,000 after acquiring an additional 2,359 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Skillz by 1.6% in the fourth quarter. Renaissance Technologies LLC now owns 404,825 shares of the company’s stock valued at $2,036,000 after acquiring an additional 6,200 shares during the last quarter. R Squared Ltd acquired a new position in Skillz in the fourth quarter valued at $35,000. Occudo Quantitative Strategies LP acquired a new position in Skillz in the fourth quarter valued at $57,000. Finally, Wealthquest Corp acquired a new position in Skillz in the third quarter valued at $68,000. Institutional investors and hedge funds own 19.42% of the company’s stock.

Skillz Company Profile

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.