Skillz Inc. (NYSE:SKLZ) Expected to Earn Q1 2024 Earnings of ($0.13) Per Share

Skillz Inc. (NYSE:SKLZGet Rating) – Stock analysts at Wedbush issued their Q1 2024 earnings per share (EPS) estimates for shares of Skillz in a research report issued to clients and investors on Thursday, August 4th. Wedbush analyst M. Pachter forecasts that the company will post earnings per share of ($0.13) for the quarter. The consensus estimate for Skillz’s current full-year earnings is ($0.79) per share. Wedbush also issued estimates for Skillz’s Q2 2024 earnings at ($0.12) EPS.

Several other analysts have also commented on the company. Citigroup lowered Skillz from a “hold” rating to a “reduce” rating in a research note on Thursday. Canaccord Genuity Group downgraded Skillz from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Canaccord Genuity Group downgraded Skillz from a “buy” rating to a “hold” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $6.80.

Skillz Stock Performance

SKLZ opened at $1.68 on Friday. The firm has a market capitalization of $688.00 million, a P/E ratio of -2.75 and a beta of 2.37. The stock’s 50 day moving average price is $1.50 and its two-hundred day moving average price is $2.49. The company has a quick ratio of 7.12, a current ratio of 7.12 and a debt-to-equity ratio of 0.51. Skillz has a 12-month low of $1.15 and a 12-month high of $13.98.

Skillz (NYSE:SKLZGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The company reported ($0.18) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.18). Skillz had a negative return on equity of 42.87% and a negative net margin of 68.02%. The business had revenue of $93.44 million for the quarter, compared to the consensus estimate of $90.87 million. During the same period last year, the business earned ($0.13) EPS. The firm’s revenue was up 11.7% compared to the same quarter last year.

Institutional Investors Weigh In On Skillz

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Wildcat Capital Management LLC raised its position in shares of Skillz by 1.7% during the fourth quarter. Wildcat Capital Management LLC now owns 21,632,157 shares of the company’s stock worth $160,943,000 after acquiring an additional 366,338 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Skillz during the first quarter worth $48,225,000. Vanguard Group Inc. raised its position in shares of Skillz by 3.9% during the first quarter. Vanguard Group Inc. now owns 15,475,131 shares of the company’s stock worth $46,425,000 after acquiring an additional 574,314 shares during the last quarter. BlackRock Inc. raised its position in shares of Skillz by 0.6% during the first quarter. BlackRock Inc. now owns 11,533,035 shares of the company’s stock worth $34,599,000 after acquiring an additional 74,218 shares during the last quarter. Finally, State Street Corp raised its position in shares of Skillz by 58.1% during the first quarter. State Street Corp now owns 6,981,329 shares of the company’s stock worth $20,944,000 after acquiring an additional 2,564,912 shares during the last quarter. Institutional investors own 44.94% of the company’s stock.

About Skillz

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Skillz Inc operates a mobile games platform that connects players in fair, fun, and meaningful competition. 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 worldwide.

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Earnings History and Estimates for Skillz (NYSE:SKLZ)

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