TaskUs (NASDAQ:TASK) Price Target Raised to $20.00 at Royal Bank of Canada

TaskUs (NASDAQ:TASK) had its target price upped by stock analysts at Royal Bank of Canada from $18.00 to $20.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 33.74% from the company’s previous close.

Several other analysts have also commented on the stock. Morgan Stanley raised TaskUs from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $18.00 to $21.00 in a research report on Friday, December 13th. Robert W. Baird boosted their price objective on shares of TaskUs from $16.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, Bank of America upgraded 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, TaskUs has a consensus rating of “Hold” and a consensus target price of $17.25.

TaskUs Trading Down 4.4 %

Shares of TASK stock traded down $0.69 during trading hours on Thursday, hitting $14.95. 820,067 shares of the company were exchanged, compared to its average volume of 346,746. The company has a debt-to-equity ratio of 0.50, a quick ratio of 3.02 and a current ratio of 3.02. TaskUs has a fifty-two week low of $10.56 and a fifty-two week high of $19.60. The company has a 50 day simple moving average of $16.13 and a two-hundred day simple moving average of $14.52. The firm has a market cap of $1.34 billion, a P/E ratio of 24.96, a P/E/G ratio of 3.92 and a beta of 2.21.

TaskUs (NASDAQ:TASK) last posted its 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 during the quarter, compared to analyst estimates of $268.65 million. TaskUs had a return on equity of 17.73% and a net margin of 5.58%. Equities analysts anticipate that TaskUs will post 0.9 EPS for the current year.

Insider Buying and Selling

In other TaskUs news, COO Stephan Daoust sold 62,159 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $18.23, for a total transaction of $1,133,158.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Steven Amaya sold 75,579 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $18.11, for a total value of $1,368,735.69. The disclosure for this sale can be found here. Over the last three months, insiders have 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

Institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its holdings 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 purchasing an additional 699 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in TaskUs in the fourth quarter worth $80,000. KLP Kapitalforvaltning AS acquired a new position in shares of TaskUs during the fourth quarter worth $81,000. Point72 Asset Management L.P. purchased a new stake in shares of TaskUs during the 4th quarter valued at $83,000. Finally, US Bancorp DE boosted its position in shares of 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 purchasing an additional 2,516 shares in the last quarter. Institutional investors own 44.64% of the company’s stock.

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.