Skillz (NYSE:SKLZ) Posts Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Skillz (NYSE:SKLZ) issued its quarterly earnings results on Tuesday. The company reported ($1.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.04), FiscalAI reports. Skillz had a negative return on equity of 50.96% and a negative net margin of 69.44%.The company had revenue of $30.01 million for the quarter, compared to analyst estimates of $26.00 million.

Skillz Price Performance

Shares of Skillz stock traded down $0.09 during trading on Thursday, reaching $2.53. 9,378 shares of the company’s stock were exchanged, compared to its average volume of 63,462. The company has a debt-to-equity ratio of 1.00, a quick ratio of 4.32 and a current ratio of 4.32. Skillz has a 1-year low of $2.23 and a 1-year high of $9.11. The company has a market cap of $38.18 million, a P/E ratio of -0.68 and a beta of 3.08. The firm’s 50-day moving average price is $3.36 and its 200 day moving average price is $5.10.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Skillz in a report on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $15.00.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SKLZ. Dimensional Fund Advisors LP boosted its stake in shares of Skillz by 37.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 34,771 shares of the company’s stock valued at $150,000 after purchasing an additional 9,402 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in Skillz by 80.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 116,052 shares of the company’s stock worth $928,000 after purchasing an additional 51,724 shares in the last quarter. Millennium Management LLC acquired a new position in Skillz during the 3rd quarter worth approximately $97,000. Two Sigma Investments LP lifted its stake in Skillz by 321.0% in the 3rd quarter. Two Sigma Investments LP now owns 77,072 shares of the company’s stock valued at $617,000 after purchasing an additional 58,765 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its stake in Skillz by 163.1% in the 3rd quarter. Squarepoint Ops LLC now owns 35,962 shares of the company’s stock valued at $288,000 after purchasing an additional 22,293 shares during the last quarter. Institutional investors and hedge funds own 19.42% of the company’s stock.

Skillz Company Profile

Skillz Inc (NYSE: SKLZ) operates a mobile e-sports platform that connects game developers, advertisers and players through skill-based competition. By integrating its software development kit into a variety of casual and midcore mobile titles, the company enables in-app tournaments and head-to-head matches in which users compete for virtual or cash prizes. Skillz’s marketplace also offers real-time leaderboards, live events and social features designed to enhance player engagement and retention.

The company’s core offering includes developer tools and analytics that help game studios monetize through entry fees, in-game purchases and ad revenue sharing.