In the latest trading session, Skillz Inc. (SKLZ) closed at $4.32, marking a +1.41% move from the previous day. This move lagged the S&P 500's daily gain of 2.44%. Meanwhile, the Dow gained 1.65%, and the Nasdaq, a tech-heavy index, added 0.28%.
Coming into today, shares of the company had lost 44.09% in the past month. In that same time, the Consumer Discretionary sector lost 14.06%, while the S&P 500 lost 9.65%.
Investors will be hoping for strength from Skillz Inc. as it approaches its next earnings release. The company is expected to report EPS of -$0.14, down 7.69% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $114.37 million, up 68.89% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Skillz Inc.These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Skillz Inc. is currently a Zacks Rank #3 (Hold).
The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 185, which puts it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
