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Skillz Inc. (SKLZ) Stock Sinks As Market Gains: What You Should Know
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Skillz Inc. (SKLZ - Free Report) closed the most recent trading day at $2.97, moving -1% from the previous trading session. This move lagged the S&P 500's daily gain of 0.34%. At the same time, the Dow added 0.4%, and the tech-heavy Nasdaq lost 0.47%.
Coming into today, shares of the company had gained 14.07% in the past month. In that same time, the Consumer Discretionary sector lost 2.57%, while the S&P 500 gained 3.75%.
Wall Street will be looking for positivity from Skillz Inc. as it approaches its next earnings report date. On that day, Skillz Inc. is projected to report earnings of -$0.15 per share, which would represent a year-over-year decline of 15.38%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales 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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 8.45% higher. Skillz Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 189, which puts it in the bottom 26% 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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Skillz Inc. (SKLZ) Stock Sinks As Market Gains: What You Should Know
Skillz Inc. (SKLZ - Free Report) closed the most recent trading day at $2.97, moving -1% from the previous trading session. This move lagged the S&P 500's daily gain of 0.34%. At the same time, the Dow added 0.4%, and the tech-heavy Nasdaq lost 0.47%.
Coming into today, shares of the company had gained 14.07% in the past month. In that same time, the Consumer Discretionary sector lost 2.57%, while the S&P 500 gained 3.75%.
Wall Street will be looking for positivity from Skillz Inc. as it approaches its next earnings report date. On that day, Skillz Inc. is projected to report earnings of -$0.15 per share, which would represent a year-over-year decline of 15.38%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales 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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 8.45% higher. Skillz Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 189, which puts it in the bottom 26% 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.