Here’s Why Skillz Stock Was Soaring Again Today

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Shares of esports company Skillz (NYSE: SKLZ) are soaring yet again today after getting new positive coverage from analysts. The company went public in December so it’s coverage from Wall Street is only just now starting to roll in. But as it rolls in, coverage has been positive, resulting in higher stock prices. That’s true again today, with Skillz stock up 10% as of 1 p.m. EST.

According to The Fly, Wedbush analyst Michael Pachter just initiated coverage on Skillz, starting it off with an outperform rating. Pachter also put a $34 per-share-price target on Skillz stock right off the bat. For perspective, Skillz stock closed yesterday at about $24.50 per share, implying about 39% upside.

Image source: Getty Images.

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