Skillz (NYSE:SKLZ – Get Free Report) issued its quarterly earnings results on Thursday. The company reported ($0.57) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.36) by $0.79, Zacks reports. The firm had revenue of $25.30 million for the quarter, compared to analysts’ expectations of $26.64 million. Skillz had a negative return on equity of 48.43% and a negative net margin of 78.69%. During the same quarter in the previous year, the firm posted ($1.62) EPS.
Skillz Trading Down 3.5 %
Shares of NYSE:SKLZ traded down $0.22 during trading on Friday, hitting $6.10. 104,137 shares of the stock were exchanged, compared to its average volume of 138,279. The company has a fifty day moving average price of $6.73 and a two-hundred day moving average price of $6.43. The company has a market cap of $130.85 million, a PE ratio of -1.19 and a beta of 2.78. Skillz has a 12-month low of $3.96 and a 12-month high of $10.72.
Analysts Set New Price Targets
Several research firms have issued reports on SKLZ. Wedbush reiterated an “outperform” rating and set a $15.00 target price on shares of Skillz in a research report on Friday. Jefferies Financial Group dropped their target price on Skillz from $7.00 to $6.50 and set a “hold” rating on the stock in a research report on Thursday, July 11th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target 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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