TaskUs, Inc. (NASDAQ:TASK) Receives $17.00 Average Target Price from Brokerages

Shares of TaskUs, Inc. (NASDAQ:TASK) have been given a consensus recommendation of “Hold” by the eight brokerages that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $17.00.

TASK has been the topic of several recent analyst reports. Robert W. Baird lifted their target price on shares of TaskUs from $16.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Morgan Stanley upgraded TaskUs from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $18.00 to $21.00 in a report on Friday, December 13th. Bank of America upgraded TaskUs from a “neutral” rating to a “buy” rating and set a $18.00 price objective for the company in a research note on Monday, December 9th. Finally, JPMorgan Chase & Co. lowered their target price on TaskUs from $17.00 to $15.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th.

TaskUs Stock Performance

Shares of TASK stock opened at $16.99 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.02 and a quick ratio of 3.02. The firm has a 50-day moving average of $15.38 and a 200-day moving average of $14.25. TaskUs has a one year low of $10.56 and a one year high of $19.60. The company has a market cap of $1.52 billion, a P/E ratio of 28.80, a P/E/G ratio of 4.67 and a beta of 2.31.

Insiders Place Their Bets

In other TaskUs news, CAO Steven Amaya sold 2,600 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $18.08, for a total value of $47,008.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Stephan Daoust sold 62,159 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $18.23, for a total transaction of $1,133,158.57. The disclosure for this sale can be found here. Insiders sold 140,338 shares of company stock worth $2,548,902 over the last quarter. 29.26% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TaskUs

A number of hedge funds and other institutional investors have recently modified their holdings of TASK. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of TaskUs by 55.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,581 shares of the company’s stock valued at $74,000 after purchasing an additional 1,988 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of TaskUs in the second quarter worth about $28,000. LSV Asset Management bought a new stake in shares of TaskUs in the 2nd quarter valued at about $990,000. American Century Companies Inc. boosted its holdings in TaskUs by 11.4% during the 2nd quarter. American Century Companies Inc. now owns 27,976 shares of the company’s stock valued at $372,000 after acquiring an additional 2,863 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in TaskUs by 15.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 392,504 shares of the company’s stock worth $5,224,000 after acquiring an additional 51,935 shares during the last quarter. 44.64% of the stock is currently owned by hedge funds and other institutional investors.

TaskUs Company Profile

TaskUs, Inc provides digital outsourcing services for companies in Philippines, the United States, India, and internationally. It offers digital customer experience that consists of omni-channel customer care services primarily delivered through non-voice digital channels; and other solutions, including experience and customer care services for new product or market launches, and customer acquisition solutions.