Wedbush analyst Michael Pachter reiterated a Buy rating on Skillz (SKLZ – Research Report) today and set a price target of $3.75. The company’s shares closed yesterday at $0.96.
According to TipRanks, Pachter is an analyst with an average return of -8.3% and a 36.93% success rate. Pachter covers the Technology sector, focusing on stocks such as fuboTV, Electronic Arts, and Skillz.
Skillz has an analyst consensus of Hold, with a price target consensus of $1.71.
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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 $89.49 million and had a GAAP net loss of $79.6 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.
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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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