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

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In the latest trading session, Skillz Inc. (SKLZ - Free Report) closed at $3.05, marking a -0.65% move from the previous day. This move lagged the S&P 500's daily gain of 0.71%. Elsewhere, the Dow gained 0.27%, while the tech-heavy Nasdaq added 0.15%.

Coming into today, shares of the company had 0% in the past month. In that same time, the Consumer Discretionary sector lost 2.83%, while the S&P 500 gained 3.76%.

Skillz Inc. will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.17, down 30.77% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $90.45 million, up 8.09% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.65 per share and revenue of $400.56 million, which would represent changes of +5.8% and +4.29%, respectively, from the prior year.

It is also important to note the recent changes to analyst estimates for Skillz Inc.Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 12.72% lower within the past month. Skillz Inc. is currently sporting a Zacks Rank of #3 (Hold).

The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 168, which puts it in the bottom 34% 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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