Skillz (NYSE:SKLZ) Given New $6.50 Price Target at Jefferies Financial Group

Skillz (NYSE:SKLZ) had its price target reduced by stock analysts at Jefferies Financial Group from $7.00 to $6.50 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Jefferies Financial Group’s target price suggests a potential downside of 1.66% from the stock’s previous close.

Separately, Wedbush reiterated an “outperform” rating and issued a $15.00 price target on shares of Skillz in a research report on Friday, May 10th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Skillz has a consensus rating of “Hold” and a consensus price target of $10.25.

Skillz Price Performance

SKLZ stock remained flat at $6.61 during midday trading on Thursday. The company had a trading volume of 29,368 shares, compared to its average volume of 145,087. The firm has a market capitalization of $141.78 million, a price-to-earnings ratio of -1.29 and a beta of 2.78. The stock’s 50 day simple moving average is $6.65 and its 200-day simple moving average is $6.35. Skillz has a 52-week low of $3.96 and a 52-week high of $13.50.

Skillz (NYSE:SKLZ) last issued its earnings results on Thursday, May 9th. The company reported ($1.45) earnings per share for the quarter, missing the consensus estimate of ($1.24) by ($0.21). Skillz had a negative net margin of 78.69% and a negative return on equity of 48.43%. The business had revenue of $25.24 million for the quarter, compared to analyst estimates of $29.54 million. During the same quarter last year, the firm posted ($1.80) earnings per share. Equities analysts forecast that Skillz will post -5.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Skillz

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jacobs Levy Equity Management Inc. lifted its position in shares of Skillz by 227.6% during the first quarter. Jacobs Levy Equity Management Inc. now owns 97,829 shares of the company’s stock worth $635,000 after purchasing an additional 67,966 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Skillz by 16.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,592 shares of the company’s stock valued at $225,000 after buying an additional 4,800 shares during the last quarter. Finally, Trexquant Investment LP increased its stake in shares of Skillz by 82.4% in the 4th quarter. Trexquant Investment LP now owns 121,587 shares of the company’s stock valued at $759,000 after buying an additional 54,930 shares during the period. Institutional investors and hedge funds own 19.42% of the company’s stock.

Skillz Company Profile

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.