Citigroup Raises TaskUs (NASDAQ:TASK) Price Target to $18.00

TaskUs (NASDAQ:TASK) had its price objective raised by Citigroup from $16.00 to $18.00 in a research note issued to investors on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

TASK has been the subject of several other reports. Guggenheim initiated coverage on shares of TaskUs in a report on Tuesday, March 19th. They set a neutral rating and a $13.00 price target for the company. The Goldman Sachs Group initiated coverage on shares of TaskUs in a research report on Monday, June 24th. They set a sell rating and a $12.00 target price on the stock. Finally, Robert W. Baird upped their target price on shares of TaskUs from $14.00 to $16.00 and gave the stock an outperform rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, TaskUs presently has an average rating of Hold and an average target price of $14.13.

TaskUs Price Performance

Shares of NASDAQ:TASK opened at $15.48 on Friday. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 30.35, a PEG ratio of 5.81 and a beta of 2.32. TaskUs has a one year low of $7.95 and a one year high of $15.63. The company has a 50-day simple moving average of $13.92 and a 200-day simple moving average of $12.80. The company has a debt-to-equity ratio of 0.56, a quick ratio of 3.36 and a current ratio of 3.36.

TaskUs (NASDAQ:TASK) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.02. The firm had revenue of $227.47 million during the quarter, compared to analysts’ expectations of $223.50 million. TaskUs had a net margin of 5.23% and a return on equity of 16.61%. On average, analysts predict that TaskUs will post 0.83 EPS for the current year.

Hedge Funds Weigh In On TaskUs

Several institutional investors and hedge funds have recently modified their holdings of the company. Quarry LP lifted its stake in shares of TaskUs by 326.6% during the fourth quarter. Quarry LP now owns 4,321 shares of the company’s stock valued at $56,000 after buying an additional 3,308 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in TaskUs during the fourth quarter worth approximately $64,000. Olympiad Research LP purchased a new position in shares of TaskUs in the 4th quarter valued at $185,000. Janney Montgomery Scott LLC raised its stake in shares of TaskUs by 53.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 107,950 shares of the company’s stock valued at $1,258,000 after acquiring an additional 37,505 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of TaskUs by 145.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 120,920 shares of the company’s stock valued at $1,409,000 after acquiring an additional 71,621 shares during the period. Hedge funds and other 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.