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

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This story originally appeared on Zacks

In the latest trading session, Skillz Inc. (SKLZ) closed at $9.73, marking a -0.92% move from the previous day. This move lagged the S&P 500’s daily gain of 1.15%.

– Zacks

Heading into today, shares of the company had lost 20.61% over the past month, lagging the Consumer Discretionary sector’s loss of 4.12% and the S&P 500’s loss of 4.67% in that time.

SKLZ will be looking to display strength as it nears its next earnings release.

SKLZ’s full-year Zacks Consensus Estimates are calling for earnings of -$0.61 per share and revenue of $390.23 million. These results would represent year-over-year changes of -48.78% and +69.58%, respectively.

Any recent changes to analyst estimates for SKLZ should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. SKLZ is holding a Zacks Rank of #4 (Sell) right now.

The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 192, putting it in the bottom 25% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.

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