TaskUs (NASDAQ:TASK) Stock Price Expected to Rise, Robert W. Baird Analyst Says

TaskUs (NASDAQ:TASK) had its target price raised by stock analysts at Robert W. Baird from $16.00 to $20.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s target price suggests a potential upside of 28.62% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Bank of America upgraded TaskUs from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $12.00 to $18.00 in a report on Monday, July 22nd. Royal Bank of Canada boosted their price target on TaskUs from $17.00 to $18.00 and gave the company a “sector perform” rating in a report on Friday, August 9th. JPMorgan Chase & Co. reduced their price objective on TaskUs from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Finally, Citigroup boosted their price objective on TaskUs from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, TaskUs presently has an average rating of “Hold” and an average target price of $16.43.

TaskUs Price Performance

Shares of NASDAQ TASK opened at $15.55 on Friday. TaskUs has a twelve month low of $10.56 and a twelve month high of $17.97. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 28.27, a price-to-earnings-growth ratio of 3.87 and a beta of 2.28. The business has a 50 day simple moving average of $12.58 and a 200-day simple moving average of $13.58.

TaskUs (NASDAQ:TASK) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.20 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.20. TaskUs had a return on equity of 16.93% and a net margin of 5.44%. The business had revenue of $237.93 million during the quarter, compared to the consensus estimate of $231.15 million. As a group, equities research analysts expect that TaskUs will post 0.87 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC boosted its position in TaskUs by 53.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 107,950 shares of the company’s stock worth $1,258,000 after acquiring an additional 37,505 shares during the period. Lord Abbett & CO. LLC boosted its position in TaskUs by 26.5% during the 1st quarter. Lord Abbett & CO. LLC now owns 744,222 shares of the company’s stock worth $8,670,000 after acquiring an additional 155,751 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in TaskUs by 145.3% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 120,920 shares of the company’s stock worth $1,409,000 after acquiring an additional 71,621 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in TaskUs by 55.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,581 shares of the company’s stock worth $74,000 after acquiring an additional 1,988 shares during the period. Finally, nVerses Capital LLC acquired a new position in TaskUs during the 2nd quarter worth $28,000. Institutional investors and hedge funds 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.