Skillz (NYSE:SKLZ) PT Lowered to $6.50

Skillz (NYSE:SKLZ) had its price target lowered by analysts at Jefferies Financial Group from $7.00 to $6.50 in a research note issued on Thursday, Benzinga reports. The firm currently has a “hold” rating on the stock. Jefferies Financial Group’s target price indicates a potential downside of 5.32% from the stock’s previous close.

Separately, Wedbush reaffirmed an “outperform” rating and set a $15.00 price objective on shares of Skillz in a research note on Friday, May 10th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $10.25.

Skillz Stock Up 2.8 %

Shares of NYSE SKLZ opened at $6.87 on Thursday. The stock has a market cap of $147.25 million, a PE ratio of -1.34 and a beta of 2.78. Skillz has a 52-week low of $3.96 and a 52-week high of $13.50. The business has a 50-day moving average price of $6.67 and a 200 day moving average price of $6.35.

Skillz (NYSE:SKLZ) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($1.45) EPS for the quarter, missing the consensus estimate of ($1.24) by ($0.21). The company had revenue of $25.24 million for the quarter, compared to analysts’ expectations of $29.54 million. Skillz had a negative net margin of 78.69% and a negative return on equity of 48.43%. During the same period in the prior year, the company earned ($1.80) earnings per share. Sell-side analysts anticipate that Skillz will post -5.14 earnings per share for the current year.

Hedge Funds Weigh In On Skillz

Large investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD raised its stake in shares of Skillz by 16.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,592 shares of the company’s stock worth $225,000 after buying an additional 4,800 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of Skillz by 227.6% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 97,829 shares of the company’s stock worth $635,000 after buying an additional 67,966 shares in the last quarter. Finally, Trexquant Investment LP raised its stake in shares of Skillz by 82.4% during the 4th quarter. Trexquant Investment LP now owns 121,587 shares of the company’s stock worth $759,000 after buying an additional 54,930 shares in the last quarter. 19.42% of the stock is owned by hedge funds and other institutional investors.

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.