Why Skillz Stock Is Falling Today

Shares of Skillz (NYSE: SKLZ) are falling today, down by 5% as of 12:51 p.m. EDT. The mobile esports platform provider will be reporting second-quarter results after the market close. The stock is down almost 30% year to date.

Wall Street is cautiously optimistic about Skillz's potential, with five of the nine analysts covering the company rating it a buy. The rest rate it a hold. The consensus price target for the stock is $24.31 per share for the next year, implying almost 80% upside, but the current quarter might be tricky. 

Analysts still expect Skillz to lose $0.11 per share in Q2, and while management didn't provide quarterly guidance, it has forecast full-year revenue will grow 63% to $375 million.

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Source Fool.com