Analysts Set TaskUs, Inc. (NASDAQ:TASK) Price Target at $17.00

Shares of TaskUs, Inc. (NASDAQ:TASK) have earned a consensus recommendation of “Hold” from the eight brokerages that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $17.00.

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. decreased their target price on TaskUs from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. 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 research report on Monday, December 9th. Morgan Stanley upgraded shares of TaskUs from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $18.00 to $21.00 in a research note on Friday, December 13th. Finally, Robert W. Baird boosted their target price on shares of TaskUs from $16.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, November 8th.

TaskUs Price Performance

TASK 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 company’s 50 day simple moving average is $15.38 and its 200-day simple moving average is $14.25. TaskUs has a one year low of $10.56 and a one year high of $19.60. The stock has a market capitalization of $1.52 billion, a P/E ratio of 28.80, a price-to-earnings-growth ratio of 4.67 and a beta of 2.31.

Insiders Place Their Bets

In other TaskUs news, COO Stephan Daoust sold 62,159 shares of the firm’s stock in a transaction that occurred 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 this hyperlink. Also, CAO Steven Amaya sold 75,579 shares of TaskUs stock in a transaction on Friday, December 13th. The stock was sold at an average price of $18.11, for a total transaction of $1,368,735.69. The disclosure for this sale can be found here. Insiders have sold 140,338 shares of company stock valued at $2,548,902 in the last ninety days. 29.26% of the stock is currently owned by insiders.

Institutional Investors Weigh In On TaskUs

A number of large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. acquired a new stake in TaskUs in the third quarter valued at approximately $1,006,000. Barclays PLC raised its holdings in shares of TaskUs by 24.9% in the 3rd quarter. Barclays PLC now owns 24,774 shares of the company’s stock worth $321,000 after acquiring an additional 4,945 shares during the last quarter. XTX Topco Ltd bought a new position in TaskUs in the 3rd quarter valued at about $269,000. Jane Street Group LLC lifted its position in TaskUs by 9.9% in the 3rd quarter. Jane Street Group LLC now owns 21,761 shares of the company’s stock valued at $281,000 after acquiring an additional 1,959 shares in the last quarter. Finally, Quarry LP boosted its stake in TaskUs by 357.4% during the 3rd quarter. Quarry LP now owns 13,567 shares of the company’s stock valued at $175,000 after purchasing an additional 10,601 shares during the last quarter. 44.64% of the stock is currently owned by institutional investors and hedge funds.

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.