Brokerages Set TaskUs, Inc. (NASDAQ:TASK) Target Price at $17.25

TaskUs, Inc. (NASDAQ:TASK) has been assigned an average rating of “Hold” from the seven ratings firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $17.86.

Several equities research analysts recently commented on the company. Bank of America raised TaskUs from a “neutral” rating to a “buy” rating and set a $18.00 target price on the stock in a report on Monday, December 9th. Morgan Stanley raised TaskUs from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $18.00 to $21.00 in a report on Friday, December 13th. Finally, Royal Bank of Canada boosted their target price on TaskUs from $18.00 to $20.00 and gave the stock a “sector perform” rating in a report on Thursday, February 27th.

Insiders Place Their Bets

In other TaskUs news, insider Jarrod Johnson sold 21,437 shares of TaskUs stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $13.60, for a total value of $291,543.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 29.26% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. grew its position in TaskUs by 71.5% in the fourth quarter. Blue Trust Inc. now owns 1,677 shares of the company’s stock worth $28,000 after buying an additional 699 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in TaskUs in the fourth quarter worth approximately $80,000. KLP Kapitalforvaltning AS purchased a new position in TaskUs during the 4th quarter worth approximately $81,000. Point72 Asset Management L.P. purchased a new position in TaskUs during the 4th quarter worth approximately $83,000. Finally, US Bancorp DE grew its position in TaskUs by 101.2% during the 3rd quarter. US Bancorp DE now owns 5,001 shares of the company’s stock worth $65,000 after purchasing an additional 2,516 shares in the last quarter. Institutional investors and hedge funds own 44.64% of the company’s stock.

TaskUs Stock Performance

TASK opened at $13.38 on Monday. The business’s 50 day moving average is $15.13 and its 200-day moving average is $14.51. The stock has a market cap of $1.20 billion, a PE ratio of 22.68, a price-to-earnings-growth ratio of 3.92 and a beta of 2.24. 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 twelve month low of $10.56 and a twelve month high of $19.60.

TaskUs (NASDAQ:TASK) last released its quarterly earnings results on Wednesday, February 26th. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.12). The business had revenue of $274.24 million for the quarter, compared to the consensus estimate of $268.65 million. TaskUs had a net margin of 5.58% and a return on equity of 17.73%. On average, analysts predict that TaskUs will post 0.9 earnings per share for the current year.

About TaskUs

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.