-$0.13 Earnings Per Share Expected for Skillz Inc. (NYSE:SKLZ) This Quarter

Equities analysts expect Skillz Inc. (NYSE:SKLZ) to announce earnings per share (EPS) of ($0.13) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Skillz’s earnings, with the highest EPS estimate coming in at ($0.10) and the lowest estimate coming in at ($0.15). The firm is expected to issue its next earnings report on Tuesday, November 2nd.

According to Zacks, analysts expect that Skillz will report full-year earnings of ($0.61) per share for the current fiscal year, with EPS estimates ranging from ($0.64) to ($0.56). For the next year, analysts expect that the business will report earnings of ($0.42) per share, with EPS estimates ranging from ($0.52) to ($0.34). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for Skillz.

Skillz (NYSE:SKLZ) last released its earnings results on Tuesday, August 3rd. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.03). The company had revenue of $89.49 million for the quarter, compared to analyst estimates of $88.07 million.

Several equities research analysts have issued reports on SKLZ shares. Zacks Investment Research downgraded Skillz from a “hold” rating to a “sell” rating in a report on Tuesday. Wedbush cut their price target on Skillz from $34.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday, August 4th. Royal Bank of Canada started coverage on Skillz in a report on Wednesday, July 28th. They set a “sector perform” rating and a $17.00 price target for the company. Finally, Canaccord Genuity cut their price target on Skillz from $30.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday, August 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $22.86.

In related news, CTO Miriam Aguirre sold 74,650 shares of the stock in a transaction that occurred on Friday, August 13th. The shares were sold at an average price of $11.51, for a total value of $859,221.50. Following the completion of the transaction, the chief technology officer now owns 700,780 shares of the company’s stock, valued at approximately $8,065,977.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last three months, insiders sold 792,871 shares of company stock valued at $8,579,578. 27.33% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in SKLZ. Artemis Investment Management LLP increased its position in shares of Skillz by 4.2% during the second quarter. Artemis Investment Management LLP now owns 481,984 shares of the company’s stock worth $10,487,000 after buying an additional 19,640 shares during the period. Exchange Traded Concepts LLC increased its position in shares of Skillz by 45.0% during the second quarter. Exchange Traded Concepts LLC now owns 731,297 shares of the company’s stock worth $15,884,000 after buying an additional 227,007 shares during the period. UBS Group AG increased its position in shares of Skillz by 81.5% during the first quarter. UBS Group AG now owns 552,592 shares of the company’s stock worth $10,522,000 after buying an additional 248,052 shares during the period. Creative Planning increased its position in shares of Skillz by 47.0% during the second quarter. Creative Planning now owns 88,706 shares of the company’s stock worth $1,927,000 after buying an additional 28,354 shares during the period. Finally, Penserra Capital Management LLC increased its position in shares of Skillz by 276.0% during the first quarter. Penserra Capital Management LLC now owns 70,322 shares of the company’s stock worth $1,338,000 after buying an additional 51,621 shares during the period. 49.17% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:SKLZ traded up $0.68 during midday trading on Wednesday, hitting $11.24. The stock had a trading volume of 13,532,584 shares, compared to its average volume of 15,644,732. Skillz has a 12 month low of $10.06 and a 12 month high of $46.30. The business’s 50-day simple moving average is $12.27 and its 200-day simple moving average is $16.74. The company has a market cap of $4.53 billion, a P/E ratio of -27.41 and a beta of 0.08.

Skillz Company Profile

Skillz Inc operates a mobile games platform that connects players worldwide. Its platform hosts casual esports tournaments. The company was founded in 2012 and is headquartered in San Francisco, California.

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Earnings History and Estimates for Skillz (NYSE:SKLZ)

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