What's happening with Skillz stock?
Shares of mobile-gaming platform Skillz ( SKLZ -8.51%) hit a new all-time low on Tuesday, sinking as far as $1.28 per share. The stock is now down 97% from its all-time high and finished today's session down 8%. Skillz didn't have direct news today, but there was a relevant development that reportedly came from a third-party research group.
What is Skillz (SKLZ)?
Skillz ( SKLZ 0.00% ) is a unique gaming company in that it allows folks the opportunity to wager on games played. Of course, games are more interesting if you have the chance to win a prize.
How much money does Skillz make?
Skillz has a market capitalization of $3.11 billion and generates $230.12 million in revenue each year. The company earns $-145.51 million in net income (profit) each year or ($0.34) on an earnings per share basis.
What is the current rating outlook for Skillz Inc?
The outlook is stable.Today's rating actions include the following:Assignments:..Issuer: Skillz Inc..... Corporate Family Rating, Assigned B3.... Probability of Default Rating, Assigned B3-PD....
Is Skillz a good stock?
The sell-off in its stock has Skillz trading at a price-to-sales of 4.8, the lowest in its brief history and down considerably from its peak of over 45. That seems like a reasonable price to pay for a company that has more than tripled revenue from $31 million in Q3 2019 to $102 million in Q3 2021.
What does Skillz do?
Skillz is the leading mobile games platform that connects players in fair, fun, and meaningful competition. The Skillz platform helps developers build multi-million dollar franchises by enabling social competition in their games.
Who owns Skillz stock?
Skillz is not owned by hedge funds. The company's CEO Andrew Paradise is the largest shareholder with 15% of shares outstanding. With 5.6% and 5.3% of the shares outstanding respectively, Accomplice Management LLC and Wildcat Capital Management, LLC are the second and third largest shareholders.
Why invest in Skillz?
Investing in Skillz Inc Stock Its live operations (LiveOps) system is used to manage and optimize the user experience across the thousands of games on its platform. Its platform provides monetization services to game developers, enabling them to offer competitive games to its end-users.
Is Skillz a gambling?
Investment Thesis Skillz Inc. (NYSE:SKLZ) presents a unique proposition of gaming ( including games development ) while earning cash at the same time, placing the company within an interesting grey zone.
Can you make money from Skillz?
Skillz users pay entry fees to play games for a chance at winning cash, and Skillz generates revenue by taking a cut. But it's possible for Skillz users to pay entry fees exclusively with bonus cash. In those instances, Skillz generates revenue solely from its S&M spend, which is just an unprofitable merry-go-round.
How many shares of Skillz are there?
Share Statistics Skillz has 409.53 million shares outstanding.
What institutions own SKLZ?
Largest shareholders include Atlas Venture Associates IX, LLC, Wildcat Capital Management, LLC, Vanguard Group Inc, T Ventures Management Co, Ltd., Allianz Asset Management GmbH, BlackRock Inc., State Street Corp, VTSMX - Vanguard Total Stock Market Index Fund Investor Shares, Morgan Stanley, and Susquehanna ...
How high will Skillz stock go?
Analyst Price Targets The above is based on 6 Wall Street analysts offering 12-month price targets for Skillz in the last 3 months. The average price target is $15.83 with a high forecast of $25.00 and a low forecast of $11.00.
Is Skillz stock a good long term investment?
A Continued Sell-Off Makes Skillz a Good Long-Term Value. Growth stocks have been out of favor for the past few months, and Skillz (NYSE:SKLZ) stock is one name that investors have been dumping en masse. There is a lot of fear in the market due to increased geopolitical tensions along with inflation.
How do I buy Skillz stock?
How to buy shares in SkillzCompare share trading platforms. Use our comparison table to help you find a platform that fits you.Open your brokerage account. Complete an application with your details.Confirm your payment details. Fund your account.Research the stock. ... Purchase now or later. ... Check in on your investment.
Is Skillz a buy right now?
6 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Skillz in the last year. There are currently 3 hold ratings and 3...
When is Skillz's next earnings date?
Skillz is scheduled to release its next quarterly earnings announcement on Tuesday, August 2nd 2022. View our earnings forecast for Skillz .
How were Skillz's earnings last quarter?
Skillz Inc. (NYSE:SKLZ) released its quarterly earnings data on Wednesday, May, 4th. The company reported ($0.37) EPS for the quarter, missing the...
What guidance has Skillz issued on next quarter's earnings?
Skillz updated its FY 2022 earnings guidance on Monday, May, 9th. The company provided EPS guidance of for the period. The company issued revenue g...
What price target have analysts set for SKLZ?
6 equities research analysts have issued 1 year target prices for Skillz's stock. Their forecasts range from $2.10 to $7.50. On average, they antic...
Who are Skillz's key executives?
Skillz's management team includes the following people: Mr. Andrew C. Paradise , Co-Founder, CEO, Pres & Chairman (Age 39, Pay $4.56M) ( LinkedI...
Who are some of Skillz's key competitors?
Some companies that are related to Skillz include JOYY (YY) , CarGurus (CARG) , ironSource (IS) , E2open Parent (ETWO) , EVERTEC (EVTC) , Leg...
What is Skillz's stock symbol?
Skillz trades on the New York Stock Exchange (NYSE) under the ticker symbol "SKLZ."
Who are Skillz's major shareholders?
Skillz's stock is owned by many different institutional and retail investors. Top institutional shareholders include Renaissance Technologies LLC (...
What is Skillz's FY 2021 earnings?
When is Skillz earnings call?
The company provided EPS guidance of - for the period. The company issued revenue guidance of $375 million-$375 million, compared to the consensus revenue estimate of $369.16 million.
Skillz (SKLZ)
Skillz will be holding an earnings conference call on Tuesday, August 3rd at 5:30 PM Eastern. Interested parties can register for or listen to the call using this link or dial in at 204-525-0658 with passcode "684073".
Skillz Inc. - Hold
This is our short term rating system that serves as a timeliness indicator for stocks over the next 1 to 3 months. How good is it? See rankings and related performance below.
Style Scorecard
Zacks' proprietary data indicates that Skillz Inc. is currently rated as a Zacks Rank 3 and we are expecting an inline return from the SKLZ shares relative to the market in the next few months. In addition, Skillz Inc.
Chart for SKLZ
The Zacks Equity Research reports, or ZER for short, are our in-house, independently produced research reports.
The fall could be justified considering the slowing user growth
Skillz Inc. provides mobile games platform which connects players. The company's platform helps developers build franchises by enabling social competition in their games. Skillz Inc., formerly known as Flying Eagle Acquisition Corp., is based in San Francisco, California.
Skillz needs to demonstrate more efficient marketing
Skillz ( SKLZ 0.00% ) is a unique gaming company in that it allows folks the opportunity to wager on games played. Of course, games are more interesting if you have the chance to win a prize. Significantly, the games it offers are based on skill.
Is Skillz a buy right now?
The magnitude of benefit from the pandemic was dramatic. From Q4 2019 to Q1 2021, Skillz increased paying monthly active users from 167,000 to 467,000. Note that Skillz cannot yet generate revenue from advertising.
Summary
The sell-off in its stock has Skillz trading at a price-to-sales of 4.8, the lowest in its brief history and down considerably from its peak of over 45. That seems like a reasonable price to pay for a company that has more than tripled revenue from $31 million in Q3 2019 to $102 million in Q3 2021.
Investment Thesis
Skillz is a mobile gaming technology platform. The company focuses on enabling monetization opportunities through competition.
But, Monthly Active Users are Falling
Skillz (NYSE: SKLZ) is a mobile gaming technology platform. The company focuses on enabling monetization opportunities through competition. In contrast to other gaming platforms that monetize through in-app purchases [IAP] or in-app advertising [IAA].
Would Venturing into Synchronous Gaming Be The Solution?
The company reported monthly active users (MAU) of 2.4M in FQ2'21. It followed a recent declining trend. In FQ1'21, the MAU was 2.7M. Hence, there was a marked 11.1% quarter-over-quarter ( (QoQ)) drop. Moreover, YoY figures hardly changed. The company reported MAU of 2.6M in FQ1'20. It also reported MAU of 2.5M in Q2'20.
So, is SKLZ Stock a Buy, or is It a Value Trap?
Skillz upped the ante by investing in Exit Games to accelerate its synchronous gaming ambitions. The most prominent genre is battle royale games. Such games include Fortnite, Garena Free Fire ( SE ), and PUBG Mobile ( OTCPK:TCEHY). These are the most dominant mobile games in the battle royale genre today.
Do you want to buy only at the right entry points for your growth stocks?
Skillz is estimated to grow its revenue by a CAGR of 25.1% by FY25. However, it's only expected to turn GAAP EBITDA profitable by FY24. We don't think the revenue CAGR is outstanding by most "speculative stocks" measures. It looks average, in fact.
