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Skillz Inc. (SKLZ) Outpaces Stock Market Gains: What You Should Know
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Skillz Inc. (SKLZ - Free Report) closed at $0.57 in the latest trading session, marking a +1.07% move from the prior day. This move outpaced the S&P 500's daily gain of 0.12%. Meanwhile, the Dow gained 0.13%, and the Nasdaq, a tech-heavy index, lost 4.09%.
Prior to today's trading, shares of the company had gained 6.16% over the past month. This has outpaced the Consumer Discretionary sector's loss of 0.58% and the S&P 500's gain of 3.98% in that time.
Wall Street will be looking for positivity from Skillz Inc. as it approaches its next earnings report date. The company is expected to report EPS of -$0.07, up 53.33% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $43.16 million, down 41.16% from the year-ago period.
SKLZ's full-year Zacks Consensus Estimates are calling for earnings of -$0.30 per share and revenue of $178.23 million. These results would represent year-over-year changes of +46.43% and -34.93%, respectively.
It is also important to note the recent changes to analyst estimates for Skillz Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 11.25% lower. Skillz Inc. currently has a Zacks Rank of #3 (Hold).
The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 62, which puts it in the top 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Skillz Inc. (SKLZ) Outpaces Stock Market Gains: What You Should Know
Skillz Inc. (SKLZ - Free Report) closed at $0.57 in the latest trading session, marking a +1.07% move from the prior day. This move outpaced the S&P 500's daily gain of 0.12%. Meanwhile, the Dow gained 0.13%, and the Nasdaq, a tech-heavy index, lost 4.09%.
Prior to today's trading, shares of the company had gained 6.16% over the past month. This has outpaced the Consumer Discretionary sector's loss of 0.58% and the S&P 500's gain of 3.98% in that time.
Wall Street will be looking for positivity from Skillz Inc. as it approaches its next earnings report date. The company is expected to report EPS of -$0.07, up 53.33% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $43.16 million, down 41.16% from the year-ago period.
SKLZ's full-year Zacks Consensus Estimates are calling for earnings of -$0.30 per share and revenue of $178.23 million. These results would represent year-over-year changes of +46.43% and -34.93%, respectively.
It is also important to note the recent changes to analyst estimates for Skillz Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 11.25% lower. Skillz Inc. currently has a Zacks Rank of #3 (Hold).
The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 62, which puts it in the top 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.
You can find more information on all of these metrics, and much more, on Zacks.com.