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

Skillz Inc. (SKLZ) closed at $11.37 in the latest trading session, marking a -0.18% move from the prior day.

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This story originally appeared on Zacks

In the latest trading session, Skillz Inc. (SKLZ) closed at $11.37, marking a -0.18% move from the previous day. This move lagged the S&P 500's daily gain of 0.15%.

- Zacks

Coming into today, shares of the company had gained 8.89% in the past month. In that same time, the Consumer Discretionary sector gained 0.41%, while the S&P 500 lost 0.58%.

Wall Street will be looking for positivity from SKLZ as it approaches its next earnings report date.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.61 per share and revenue of $390.23 million, which would represent changes of -48.78% and +69.58%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for SKLZ. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 currently sporting a Zacks Rank of #4 (Sell).

The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 181, putting it in the bottom 29% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.



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