TaskUs, Inc. (NASDAQ:TASK) Receives Consensus Recommendation of “Hold” from Analysts

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

TASK has been the topic of a number of recent analyst reports. Royal Bank of Canada lifted their target price on TaskUs from $18.00 to $20.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 27th. Morgan Stanley upgraded TaskUs from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $18.00 to $21.00 in a research note on Friday, December 13th.

TaskUs Trading Down 5.7 %

Shares of TASK stock opened at $12.33 on Friday. TaskUs has a 52-week low of $10.56 and a 52-week high of $19.60. The company has a 50-day simple moving average of $14.02 and a two-hundred day simple moving average of $14.54. The company has a debt-to-equity ratio of 0.50, a quick ratio of 3.02 and a current ratio of 3.02. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 3.92 and a beta of 2.17.

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

Insider Activity

In other news, insider Jarrod Johnson sold 15,460 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $13.25, for a total value of $204,845.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 29.26% of the stock is owned by company insiders.

Institutional Trading of TaskUs

A number of hedge funds and other institutional investors have recently bought and sold shares of TASK. Think Investments LP increased its stake in TaskUs by 14.5% in the 4th quarter. Think Investments LP now owns 2,881,513 shares of the company’s stock worth $48,813,000 after acquiring an additional 364,608 shares during the last quarter. SG Americas Securities LLC increased its position in shares of TaskUs by 217.0% in the fourth quarter. SG Americas Securities LLC now owns 350,719 shares of the company’s stock worth $5,941,000 after purchasing an additional 240,093 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in TaskUs in the third quarter valued at approximately $1,006,000. Royce & Associates LP lifted its position in TaskUs by 10.9% during the fourth quarter. Royce & Associates LP now owns 742,679 shares of the company’s stock valued at $12,581,000 after purchasing an additional 73,100 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in TaskUs by 7.9% in the 4th quarter. Ameriprise Financial Inc. now owns 957,653 shares of the company’s stock worth $16,223,000 after buying an additional 69,704 shares in the last quarter. Institutional investors own 44.64% of the company’s stock.

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.