Skillz (NYSE:SKLZ) Announces Earnings Results, Misses Estimates By $0.04 EPS

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

Skillz Stock Up 13.2%

NYSE:SKLZ traded up $0.30 during midday trading on Tuesday, reaching $2.58. 73,091 shares of the stock traded hands, compared to its average volume of 52,918. The stock has a market capitalization of $38.98 million, a PE ratio of -0.62 and a beta of 2.96. Skillz has a 12-month low of $2.23 and a 12-month high of $9.11. The company has a debt-to-equity ratio of 1.00, a quick ratio of 4.32 and a current ratio of 4.32. The business has a 50-day moving average of $3.39 and a two-hundred day moving average of $5.12.

Hedge Funds Weigh In On Skillz

Large investors have recently made changes to their positions in the business. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Skillz by 80.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 116,052 shares of the company’s stock valued at $928,000 after purchasing an additional 51,724 shares during the last quarter. Squarepoint Ops LLC grew its stake in Skillz by 122.6% during the 4th quarter. Squarepoint Ops LLC now owns 80,054 shares of the company’s stock worth $345,000 after buying an additional 44,092 shares during the last quarter. Two Sigma Investments LP grew its stake in Skillz by 321.0% during the 3rd quarter. Two Sigma Investments LP now owns 77,072 shares of the company’s stock worth $617,000 after buying an additional 58,765 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Skillz by 37.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 34,771 shares of the company’s stock valued at $150,000 after buying an additional 9,402 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in Skillz by 15.9% in the second quarter. Jane Street Group LLC now owns 27,282 shares of the company’s stock valued at $186,000 after buying an additional 3,738 shares during the last quarter. 19.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.