TaskUs, Inc. (NASDAQ:TASK) Receives $17.00 Consensus PT from Brokerages

TaskUs, Inc. (NASDAQ:TASK) has earned an average rating of “Hold” from the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $17.00.

A number of analysts have weighed in on the stock. Morgan Stanley raised shares of 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 research note on Friday, December 13th. Bank of America raised 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 target price on shares of TaskUs from $16.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th.

Insider Activity at TaskUs

In related news, COO Stephan Daoust sold 62,159 shares of the business’s 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Steven Amaya sold 75,579 shares of the business’s stock in a transaction on Friday, December 13th. The shares were 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 a total of 140,338 shares of company stock worth $2,548,902 over the last quarter. Company insiders own 29.26% of the company’s stock.

Hedge Funds Weigh In On TaskUs

Several institutional investors have recently made changes to their positions in the stock. Nkcfo LLC acquired a new position in shares of TaskUs during the fourth quarter valued at about $339,000. Blue Trust Inc. raised its holdings in shares of TaskUs by 71.5% during the fourth quarter. Blue Trust Inc. now owns 1,677 shares of the company’s stock valued at $28,000 after purchasing an additional 699 shares during the period. Vontobel Holding Ltd. acquired a new position in shares of TaskUs during the fourth quarter valued at about $338,000. Janney Montgomery Scott LLC acquired a new position in shares of TaskUs during the fourth quarter valued at about $613,000. Finally, SG Americas Securities LLC raised its holdings in shares of TaskUs by 217.0% during the fourth quarter. SG Americas Securities LLC now owns 350,719 shares of the company’s stock valued at $5,941,000 after purchasing an additional 240,093 shares during the period. Institutional investors and hedge funds own 44.64% of the company’s stock.

TaskUs Stock Performance

Shares of NASDAQ:TASK opened at $16.92 on Friday. The company’s 50 day simple moving average is $16.21 and its 200 day simple moving average is $14.60. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 28.68, a price-to-earnings-growth ratio of 4.54 and a beta of 2.23. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.02 and a quick ratio of 3.02. TaskUs has a 1 year low of $10.56 and a 1 year high of $19.60.

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