Skillz (SKLZ) Gets a Buy from Stifel Nicolaus

Stifel Nicolaus analyst Drew Crum maintained a Buy rating on Skillz (SKLZResearch Report) on November 4 and set a price target of $1.50. The company’s shares closed yesterday at $1.05.

Crum covers the Technology sector, focusing on stocks such as Take-Two, Roblox, and Corsair Gaming. According to TipRanks, Crum has an average return of 13.9% and a 57.10% success rate on recommended stocks.

Currently, the analyst consensus on Skillz is a Hold with an average price target of $1.51, implying a 43.81% upside from current levels. In a report released on November 3, Wedbush also reiterated a Buy rating on the stock with a $3.75 price target.

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Based on Skillz’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $73.34 million and a GAAP net loss of $60.61 million. In comparison, last year the company earned a revenue of $102.07 million and had a net profit of $50.78 million

Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SKLZ in relation to earlier this year. Most recently, in September 2022, Chafkin Casey, the CRO of SKLZ bought 18,323.00 shares for a total of $22,903.75.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Founded in 2012, Skillz operates as a marketplace that connects mobile game players worldwide and provides a competitive gaming experience. The company leverages its platform to host casual eSports tournaments.

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