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Skillz (SKLZ) Receives a Buy from Wedbush

Wedbush analyst Michael Pachter maintained a Buy rating on Skillz (SKLZResearch Report) today and set a price target of $25.00. The company’s shares closed last Wednesday at $11.09, close to its 52-week low of $7.97.

According to TipRanks.com, Pachter is a 4-star analyst with an average return of 7.4% and a 56.2% success rate. Pachter covers the Technology sector, focusing on stocks such as Playtika Holding, Corsair Gaming, and Unity Software.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Skillz with a $19.00 average 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 $89.49 million and GAAP net loss of $79.6 million. In comparison, last year the company earned revenue of $43.56 million and had a GAAP net loss of $15.52 million.

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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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