Skillz Inc. (SKLZ) Gains As Market Dips: What You Should Know
In the latest trading session, Skillz Inc. (SKLZ) closed at $14.08, marking a +1.15% move from the previous day. This move outpaced the S&P 500's daily loss of 0.54%.
Coming into today, shares of the company had lost 31.73% in the past month. In that same time, the Consumer Discretionary sector lost 4.17%, while the S&P 500 gained 3.05%.
SKLZ will be looking to display strength as it nears its next earnings release, which is expected to be August 3, 2021.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.48 per share and revenue of $377.28 million. These totals would mark changes of -17.07% and +63.95%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for SKLZ. 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.
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.
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 5.84% higher. SKLZ is currently a Zacks Rank #3 (Hold).
The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 112, which puts it in the top 45% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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