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

TaskUs, Inc. (NASDAQ:TASK) has been assigned an average rating of “Hold” from the eight research firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $17.00.

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley raised shares of TaskUs from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $18.00 to $21.00 in a report on Friday, December 13th. Bank of America upgraded shares of TaskUs from a “neutral” rating to a “buy” rating and set a $18.00 target price on the stock in a research note on Monday, December 9th. Finally, Robert W. Baird boosted their price target on shares of TaskUs from $16.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday, November 8th.

TaskUs Stock Up 2.2 %

TaskUs stock opened at $16.83 on Friday. The firm has a 50 day simple moving average of $16.12 and a 200 day simple moving average of $14.57. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 0.50. TaskUs has a 1-year low of $10.56 and a 1-year high of $19.60. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 28.53, a P/E/G ratio of 4.54 and a beta of 2.23.

TaskUs (NASDAQ:TASK) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.06). The company had revenue of $255.35 million during the quarter, compared to analysts’ expectations of $245.24 million. TaskUs had a net margin of 5.58% and a return on equity of 17.73%. During the same quarter last year, the firm posted $0.19 earnings per share. On average, analysts predict that TaskUs will post 0.9 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Stephan Daoust sold 62,159 shares of TaskUs stock in a transaction on Friday, December 13th. The shares were sold at an average price of $18.23, for a total value of $1,133,158.57. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Steven Amaya sold 2,600 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $18.08, for a total transaction of $47,008.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 140,338 shares of company stock worth $2,548,902. Corporate insiders own 29.26% of the company’s stock.

Institutional Investors Weigh In On TaskUs

Several institutional investors have recently bought and sold shares of TASK. Blue Trust Inc. increased its position in shares of TaskUs by 71.5% in the fourth quarter. Blue Trust Inc. now owns 1,677 shares of the company’s stock valued at $28,000 after acquiring an additional 699 shares during the period. Jane Street Group LLC raised its position in TaskUs by 9.9% during the 3rd quarter. Jane Street Group LLC now owns 21,761 shares of the company’s stock valued at $281,000 after purchasing an additional 1,959 shares during the last quarter. US Bancorp DE lifted its holdings in TaskUs by 101.2% in the 3rd quarter. US Bancorp DE now owns 5,001 shares of the company’s stock worth $65,000 after buying an additional 2,516 shares during the period. Hsbc Holdings PLC grew its position in shares of TaskUs by 19.7% in the 2nd quarter. Hsbc Holdings PLC now owns 16,885 shares of the company’s stock worth $225,000 after buying an additional 2,779 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of TaskUs by 11.4% during the second quarter. American Century Companies Inc. now owns 27,976 shares of the company’s stock valued at $372,000 after buying an additional 2,863 shares during the period. 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.