Skillz (NYSE:SKLZ) Posts Earnings Results, Misses Expectations By $0.04 EPS

Skillz (NYSE:SKLZ) announced its earnings results on Tuesday. The company reported ($1.07) EPS for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.04), FiscalAI reports. Skillz had a negative net margin of 69.44% and a negative return on equity of 50.96%. The business had revenue of $30.01 million during the quarter, compared to analysts’ expectations of $26.00 million.

Skillz Price Performance

SKLZ traded down $0.10 during trading on Thursday, reaching $2.53. 17,110 shares of the stock were exchanged, compared to its average volume of 63,462. The company has a debt-to-equity ratio of 1.00, a current ratio of 4.32 and a quick ratio of 4.32. The company has a market capitalization of $38.15 million, a price-to-earnings ratio of -0.68 and a beta of 3.08. Skillz has a 1 year low of $2.23 and a 1 year high of $9.11. The business’s 50 day moving average price is $3.36 and its two-hundred day moving average price is $5.10.

Institutional Investors Weigh In On Skillz

Institutional investors and hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. purchased a new stake in shares of Skillz in the first quarter valued at about $95,000. Acadian Asset Management LLC acquired a new position in shares of Skillz during the 1st quarter worth approximately $80,000. XTX Topco Ltd acquired a new position in shares of Skillz during the 2nd quarter worth approximately $112,000. Jane Street Group LLC lifted its stake in Skillz by 15.9% in the 2nd quarter. Jane Street Group LLC now owns 27,282 shares of the company’s stock valued at $186,000 after buying an additional 3,738 shares in the last quarter. Finally, Bridgeway Capital Management LLC purchased a new stake in Skillz in the 2nd quarter valued at approximately $93,000. 19.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Skillz in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $15.00.

Skillz Company Profile

Skillz Inc (NYSE: SKLZ) operates a mobile e-sports platform that connects game developers, advertisers and players through skill-based competition. By integrating its software development kit into a variety of casual and midcore mobile titles, the company enables in-app tournaments and head-to-head matches in which users compete for virtual or cash prizes. Skillz’s marketplace also offers real-time leaderboards, live events and social features designed to enhance player engagement and retention.

The company’s core offering includes developer tools and analytics that help game studios monetize through entry fees, in-game purchases and ad revenue sharing.