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Skillz Inc. (SKLZ) Outpaces Stock Market Gains: What You Should Know

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Skillz Inc. (SKLZ - Free Report) closed at $6.04 in the latest trading session, marking a +0.33% move from the prior day. This move outpaced the S&P 500's daily gain of 0.08%. Meanwhile, the Dow lost 0.56%, and the Nasdaq, a tech-heavy index, lost 0.28%.

Heading into today, shares of the company had lost 23.12% over the past month, lagging the Consumer Discretionary sector's loss of 1.36% and the S&P 500's gain of 0.22% in that time.

Skillz Inc. will be looking to display strength as it nears its next earnings release. On that day, Skillz Inc. is projected to report earnings of -$0.14 per share, which would represent a year-over-year decline of 7.69%. Our most recent consensus estimate is calling for quarterly revenue of $114.37 million, up 68.89% from the year-ago period.

Investors might also notice recent changes to analyst estimates for Skillz Inc.These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Skillz Inc. is holding a Zacks Rank of #3 (Hold) right now.

The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 193, putting it in the bottom 25% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.


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