Skillz Inc. (NYSE: SKLZ) stock jumped 6.05% on Monday to $0.85 against a previous-day closing price of $0.80. With 7.58 million shares changed hands, the volume of the stock remained lighter than its average volume of 10.14 million shares. During the session, the Electronic Gaming & Multimedia company that operates in wider Communication Services sector, reached to the highest price of $0.8549 whereas the lowest price it dropped to was $0.7912. The 52-week range on SKLZ shows that it touched its highest point at $5.43 and its lowest point at $0.45 during that stretch. It currently has a 1-year price target of $1.44.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SKLZ was up-trending over the past week, with a rise of 14.90%, but this was up by 39.46% over a month. Three-month performance dropped to -20.70% while six-month performance fell -43.05%. The stock lost -84.11% in the past year, while it has gained 67.52% so far this year. A look at the trailing 12-month EPS for SKLZ yields -0.95 with Next year EPS estimates of -0.46. For the next quarter, that number is -0.12. This implies an EPS growth rate of 4.50% for this year and 42.50% for next year.
Float and Shares Shorts:
At present, 413.83 million SKLZ shares are outstanding with a float of 281.44 million shares on hand for trading. On Oct 13, 2022, short shares totaled 41.46 million, which was 9.89% higher than short shares on Sep 14, 2022. In addition to Mr. Andrew C. Paradise as the firm’s Co-Founder, CEO, Pres & Chairman, Mr. Casey Chafkin serves as its Co-founder, Chief Revenue Officer, Treasurer & Director.
Through their ownership of 48.71% of SKLZ’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 20.31% of SKLZ, in contrast to 12.12% held by mutual funds. Shares owned by individuals account for 11.68%. As the largest shareholder in SKLZ with 5.57% of the stake, Wildcat Capital Management LLC holds 19,596,988 shares worth 19,596,988. A second-largest stockholder of SKLZ, BlackRock Fund Advisors, holds 18,690,342 shares, controlling over 5.32% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in SKLZ, holding 16,490,683 shares or 4.69% stake. With a 1.99% stake in SKLZ, the iShares Russell 2000 ETF is the largest stakeholder. A total of 6,986,015 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 1.28% of SKLZ stock, is the second-largest Mutual Fund holder. It holds 4,509,252 shares valued at 2.29 million. Vanguard Extended Market Index Fu holds 1.08% of the stake in SKLZ, owning 3,805,210 shares worth 1.93 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SKLZ since 7 analysts follow the stock currently. There are 2 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 4 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With SKLZ analysts setting a high price target of $3.75 and a low target of $0.60, the average target price over the next 12 months is $1.44. Based on these targets, SKLZ could surge 341.18% to reach the target high and fall by -29.41% to reach the target low. Reaching the average price target will result in a growth of 69.41% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. SKLZ will report FY 2022 earnings on 02/22/2024. Analysts have provided yearly estimates in a range of -$0.72 being high and -$0.85 being low. For SKLZ, this leads to a yearly average estimate of -$0.81. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Skillz Inc. surprised analysts by -$0.06 when it reported -$0.19 EPS against a consensus estimate of -$0.13. The surprise factor in the prior quarter was $0.01. Based on analyst estimates, the high estimate for the next quarter is -$0.10 and the low estimate is -$0.15. The average estimate for the next quarter is thus -$0.12.