How Skillz Inc. (SKLZ) Works From A Technical Perspective

Skillz Inc. (NYSE:SKLZ) finished Tuesday with a subtraction of -$0.31 to close at $8.69, a downside of -3.44 percent. An average of 19,776,279 shares of common stock have been traded in the last five days. There was a fall of -$1.91 in the past week. The last 20 days have seen an average of 12,906,979 shares traded, while the 50-day average volume stands at 17,150,109.

SKLZ stock has decreased by -28.18% in the last month. The company shares reached their 1-month lowest point of $8.57 on 10/05/21. With the stock rallying to its 52-week high on 02/05/21, shares of the company touched a low of $8.93 and a high of $46.30 in 52 weeks. In spite of this, the price is down -81.23% from the 52-week high.


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Insider Transactions

48 days have passed since Skillz Inc. (SKLZ) last reported insider trading activity. Aguirre Miriam, who is Chief Technology Officer, most recently acquired $439,431 shares at $10.34 per share on Aug 19. In this transaction, the insider spent $4,545,474. Chief Technology Officer, Aguirre Miriam, disposed of 182,020 shares at a price of $11.03 on Aug 18. The insider now owns more than $2,007,135 worth of shares. Prior to that, Chief Technology Officer Aguirre Miriam went on to Sale 219,587 shares at $10.57 each on Aug 17. An amount of $2,320,396 was transacted.

Valuation Metrics

Skillz Inc. (SKLZ) has a trailing price-to-earnings (P/E) ratio of 30.20 for the broader industry and 30.30 for the sector. This means investors are optimistic about the stock’s future prospects. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 11.74, the price-to-book (PB) ratio at 6.25.

The quick ratio of Skillz Inc. for the three months ended June 29 was 5.70, and the current ratio was 5.70, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.00 for the quarter ending June 29. Its gross profit as reported stood at $217.83 million compared to revenue of $230.12 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. For the broader industry, ROE averaged 7.41 over the past year.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Skillz Inc. (SKLZ) price momentum. RSI 9-day as of the close on 05 October was 20.10%, suggesting the stock is oversold, with historical volatility in this time frame at 46.79%.

As of today, SKLZ’s price is $9.44 -18.02% or -$1.91 from its 5-day moving average. SKLZ is currently trading -30.92% lower than its 20-day SMA and -36.71% lower than its 100-day SMA. However, the stock’s current price level is -41.91% below the SMA50 and -61.77% below the SMA200.

The stochastic %K and %D were 7.73% and 11.35%, respectively, and the average true range (ATR) was 0.64. With the 14-day stochastic at 3.76% and the average true range at 0.67, the RSI (14) stands at 27.10%. The stock has reached -1.08 on the 9-day MACD Oscillator while the 14-day reading was at -1.30.

Analyst Ratings

RBC Capital Mkts launched coverage on Skillz Inc. (NYSE: SKLZ) in its analyst report released on July 28, 2021. The firm assigned the stock a a Sector perform rating.The consensus rating for Skillz Inc. (SKLZ) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell SKLZ, while 3 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 3 others rate it as a “buy”.

What is SKLZ’s price target for the next 12 months?

Analysts predict a range of price targets between $13.00 and $25.00, with a median target of $16.00. Taking a look at these predictions, the average price target given by analysts for Skillz Inc. (SKLZ) stock is $18.00.

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