December 2, 2021

Daily Best Articles

Get The Latest Update Here

Skillz Inc. (SKLZ) Gains As Market Dips: What You Should Know

[ad_1]

You’re reading Entrepreneur United States, an international franchise of Entrepreneur Media.

This story originally appeared on Zacks

Skillz Inc. (SKLZ) closed the most recent trading day at $10.11, moving +1.71% from the previous trading session. This move outpaced the S&P 500’s daily loss of 0.11%.

– Zacks

Prior to today’s trading, shares of the company had lost 12.73% over the past month. This has lagged the Consumer Discretionary sector’s gain of 1.61% and the S&P 500’s gain of 4.61% in that time.

Investors will be hoping for strength from SKLZ as it approaches its next earnings release, which is expected to be November 3, 2021.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.61 per share and revenue of $390.23 million. These totals would mark changes of -48.78% and +69.58%, respectively, from last year.

Investors should also note any recent changes to analyst estimates for SKLZ. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. SKLZ is currently sporting a Zacks Rank of #3 (Hold).

The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 183, putting it in the bottom 28% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow SKLZ in the coming trading sessions, be sure to utilize Zacks.com.

Zacks Names “Single Best Pick to Double”

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.

Free: See Our Top Stock and 4 Runners Up >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Skillz Inc. (SKLZ): Free Stock Analysis Report
 
To read this article on Zacks.com click here.

[ad_2]

Source link