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Skillz Inc. (SKLZ) Moves 14.5% Higher: Will This Strength Last?
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Skillz Inc. (SKLZ - Free Report) shares rallied 14.5% in the last trading session to close at $7.41. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 29.4% gain over the past four weeks.
Improving user economics and solid development on its product efforts have been boosting investors’ confidence.
This company is expected to post quarterly loss of $1.49 per share in its upcoming report, which represents a year-over-year change of +37.9%. Revenues are expected to be $39.19 million, down 16.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Skillz Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on SKLZ going forward to see if this recent jump can turn into more strength down the road.
Skillz Inc. is a member of the Zacks Gaming industry. One other stock in the same industry, International Game Technology (IGT - Free Report) , finished the last trading session 1.1% higher at $27. IGT has returned 3.8% over the past month.
For IGT, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.35. This represents a change of -12.5% from what the company reported a year ago. IGT currently has a Zacks Rank of #4 (Sell).
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Skillz Inc. (SKLZ) Moves 14.5% Higher: Will This Strength Last?
Skillz Inc. (SKLZ - Free Report) shares rallied 14.5% in the last trading session to close at $7.41. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 29.4% gain over the past four weeks.
Improving user economics and solid development on its product efforts have been boosting investors’ confidence.
This company is expected to post quarterly loss of $1.49 per share in its upcoming report, which represents a year-over-year change of +37.9%. Revenues are expected to be $39.19 million, down 16.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Skillz Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on SKLZ going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Skillz Inc. is a member of the Zacks Gaming industry. One other stock in the same industry, International Game Technology (IGT - Free Report) , finished the last trading session 1.1% higher at $27. IGT has returned 3.8% over the past month.
For IGT, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.35. This represents a change of -12.5% from what the company reported a year ago. IGT currently has a Zacks Rank of #4 (Sell).