While Skillz Inc has overperformed by 1.09%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, SKLZ fell by -33.75%, with highs and lows ranging from $15.55 to $3.96, whereas the simple moving average fell by -9.64% in the last 200 days.
On October 12, 2022, BTIG Research Downgraded Skillz Inc (NYSE: SKLZ) to Sell. A report published by Canaccord Genuity on August 04, 2022, Downgraded its rating to ‘Hold’ for SKLZ. Citigroup also Downgraded SKLZ shares as ‘Neutral’, setting a target price of $2.10 on the company’s shares in a report dated May 23, 2022. Wedbush Reiterated the rating as Outperform on February 24, 2022, but set its price target from $25 to $7.50. RBC Capital Mkts resumed its ‘Sector Perform’ rating for SKLZ, as published in its report on February 24, 2022. Canaccord Genuity’s report from February 24, 2022 suggests a price prediction of $7 for SKLZ shares, giving the stock a ‘Buy’ rating. Citigroup also rated the stock as ‘Buy’.
Analysis of Skillz Inc (SKLZ)
Further, the quarter-over-quarter decrease in sales is -37.83%, showing a negative trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Skillz Inc’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of -46.31% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 5.41, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
As an indicator of volatility for any stock, average volume can also be very valuable, and SKLZ is recording an average volume of 193.70K. On a monthly basis, the volatility of the stock is set at 6.40%, whereas on a weekly basis, it is put at 4.30%, with a gain of 5.70% over the past seven days. Furthermore, long-term investors anticipate a median target price of $10.17, showing growth from the present price of $6.49, which can serve as yet another indication of whether SKLZ is worth investing in or should be passed over.
How Do You Analyze Skillz Inc Shares?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 33.26%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 24.77% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
SKLZ shares are owned by institutional investors to the tune of 24.77% at present.
