Skillz (NYSE:SKLZ) Posts Earnings Results, Misses Expectations By $0.61 EPS

Skillz (NYSE:SKLZ) announced its quarterly earnings results on Thursday. The company reported ($1.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.61), Zacks reports. The firm had revenue of $20.37 million for the quarter, compared to the consensus estimate of $25.07 million. Skillz had a negative net margin of 40.87% and a negative return on equity of 38.95%.

Skillz Stock Performance

Shares of NYSE:SKLZ opened at $4.40 on Friday. The stock has a market capitalization of $76.61 million, a P/E ratio of -1.95 and a beta of 2.74. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.63. Skillz has a 1-year low of $4.33 and a 1-year high of $7.48. The business has a 50-day moving average price of $5.97 and a two-hundred day moving average price of $5.63.

Analyst Ratings Changes

Separately, Wedbush reissued an “outperform” rating and set a $15.00 price objective on shares of Skillz in a report on Friday.

About Skillz

Skillz Inc operates a mobile game platform in the United States and internationally. The company primarily develops and supports a proprietary online-hosted technology platform that enables independent game developers to host tournaments and provide competitive gaming activity to end-users. The company distributes games through direct app download from its website, as well as through third-party platforms.