Skillz Inc. (SKLZ) Dips More Than Broader Markets: What You Should Know
Skillz Inc. (SKLZ) closed at $18.99 in the latest trading session, marking a -0.84% move from the prior day. This change lagged the S&P 500's 0.04% loss on the day.
Prior to today's trading, shares of the company had gained 26.32% over the past month. This has outpaced the Consumer Discretionary sector's loss of 0.21% and the S&P 500's gain of 1.35% in that time.
SKLZ will be looking to display strength as it nears its next earnings release.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.51 per share and revenue of $376.78 million. These totals would mark changes of -24.39% and +63.74%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for SKLZ. These revisions help to show the ever-changing nature of 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. SKLZ 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 102, which puts it in the top 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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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