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

Skillz (NYSE:SKLZ) posted 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. Skillz had a negative net margin of 40.87% and a negative return on equity of 38.95%. The firm had revenue of $20.37 million during the quarter, compared to analyst estimates of $25.07 million.

Skillz Price Performance

Shares of NYSE SKLZ traded down $0.72 during mid-day trading on Friday, reaching $4.40. The company’s stock had a trading volume of 327,886 shares, compared to its average volume of 97,302. The stock has a 50-day moving average of $5.97 and a two-hundred day moving average of $5.63. 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 debt-to-equity ratio of 0.63, a quick ratio of 5.80 and a current ratio of 5.80. Skillz has a 1-year low of $4.33 and a 1-year high of $7.48.

Wall Street Analysts Forecast Growth

Separately, Wedbush restated an “outperform” rating and set a $15.00 price objective 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.