$102.72 Million in Sales Expected for Skillz Inc. (NYSE:SKLZ) This Quarter

Equities analysts expect that Skillz Inc. (NYSE:SKLZ) will post sales of $102.72 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Skillz’s earnings. The lowest sales estimate is $100.00 million and the highest is $105.20 million. The firm is expected to announce its next earnings results on Tuesday, November 2nd.

According to Zacks, analysts expect that Skillz will report full-year sales of $390.23 million for the current year, with estimates ranging from $388.10 million to $392.58 million. For the next fiscal year, analysts expect that the business will report sales of $547.56 million, with estimates ranging from $489.70 million to $590.00 million. Zacks’ sales calculations are an average based on a survey of research analysts that cover Skillz.

Skillz (NYSE:SKLZ) last posted its quarterly earnings data on Tuesday, August 3rd. The company reported ($0.13) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.03). The firm had revenue of $89.49 million during the quarter, compared to the consensus estimate of $88.07 million.

A number of equities research analysts have recently issued reports on SKLZ shares. Zacks Investment Research raised Skillz from a “sell” rating to a “hold” rating in a research report on Thursday, October 7th. Wedbush cut their target price on Skillz from $34.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 4th. Canaccord Genuity lowered their price target on Skillz from $30.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, August 4th. Finally, Royal Bank of Canada initiated coverage on Skillz in a report on Wednesday, July 28th. They set a “sector perform” rating and a $17.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $22.86.

In other Skillz news, CTO Miriam Aguirre sold 439,431 shares of the business’s stock in a transaction dated Thursday, August 19th. The stock was sold at an average price of $10.34, for a total value of $4,543,716.54. Following the transaction, the chief technology officer now owns 1,259,760 shares in the company, valued at $13,025,918.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 792,871 shares of company stock worth $8,579,578 in the last 90 days. Corporate insiders own 27.33% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Strategic Wealth Advisors Group LLC boosted its stake in shares of Skillz by 7.4% during the 2nd quarter. Strategic Wealth Advisors Group LLC now owns 12,367 shares of the company’s stock worth $269,000 after acquiring an additional 850 shares in the last quarter. Clearstead Advisors LLC lifted its position in shares of Skillz by 3,100.0% during the 2nd quarter. Clearstead Advisors LLC now owns 1,600 shares of the company’s stock worth $35,000 after purchasing an additional 1,550 shares during the last quarter. Baldwin Brothers Inc. MA lifted its position in shares of Skillz by 150.0% during the 2nd quarter. Baldwin Brothers Inc. MA now owns 3,000 shares of the company’s stock worth $65,000 after purchasing an additional 1,800 shares during the last quarter. CKW Financial Group lifted its position in shares of Skillz by 74.5% during the 2nd quarter. CKW Financial Group now owns 4,224 shares of the company’s stock worth $86,000 after purchasing an additional 1,804 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Skillz by 17.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 12,369 shares of the company’s stock worth $268,000 after purchasing an additional 1,854 shares during the last quarter. Institutional investors own 49.17% of the company’s stock.

Shares of Skillz stock opened at $8.92 on Thursday. The stock’s fifty day moving average is $10.79 and its 200-day moving average is $15.06. The firm has a market capitalization of $3.59 billion, a PE ratio of -21.76 and a beta of 0.08. Skillz has a 12-month low of $7.97 and a 12-month high of $46.30.

About Skillz

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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