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

Skillz (NYSE:SKLZ) announced its 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 company had revenue of $20.37 million for the quarter, compared to the consensus estimate of $25.07 million. Skillz had a negative return on equity of 38.95% and a negative net margin of 40.87%.

Skillz Stock Down 14.0 %

Shares of NYSE:SKLZ opened at $4.40 on Friday. The firm has a market cap of $76.61 million, a P/E ratio of -1.95 and a beta of 2.74. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.63. Skillz has a 12-month low of $4.33 and a 12-month high of $7.48. The business has a fifty day simple moving average of $5.97 and a 200 day simple moving average of $5.63.

Wall Street Analysts Forecast Growth

Separately, Wedbush reaffirmed an “outperform” rating and set a $15.00 target price on shares of Skillz in a research 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.