Brokerages Set TaskUs, Inc. (NASDAQ:TASK) Target Price at $15.38

TaskUs, Inc. (NASDAQ:TASK) has received an average rating of “Hold” from the eight ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $15.38.

A number of research analysts recently weighed in on TASK shares. Royal Bank of Canada lifted their price objective on shares of TaskUs from $17.00 to $18.00 and gave the company a “sector perform” rating in a report on Friday, August 9th. Citigroup increased their price objective on TaskUs from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, August 12th. The Goldman Sachs Group began coverage on TaskUs in a report on Monday, June 24th. They set a “sell” rating and a $12.00 price target on the stock. Robert W. Baird lifted their price objective on TaskUs from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Thursday, July 11th. Finally, Bank of America upgraded shares of TaskUs from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $12.00 to $18.00 in a research note on Monday, July 22nd.

TaskUs Stock Performance

NASDAQ:TASK opened at $12.00 on Monday. The stock has a market capitalization of $1.06 billion, a P/E ratio of 23.53, a PEG ratio of 3.43 and a beta of 2.29. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.23 and a current ratio of 3.23. TaskUs has a fifty-two week low of $7.95 and a fifty-two week high of $17.97. The company has a 50 day moving average price of $13.98 and a 200 day moving average price of $13.40.

TaskUs (NASDAQ:TASK) last posted its earnings results on Thursday, August 8th. The company reported $0.20 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.20. The firm had revenue of $237.93 million for the quarter, compared to analyst estimates of $231.15 million. TaskUs had a return on equity of 16.93% and a net margin of 5.44%. Equities research analysts forecast that TaskUs will post 0.84 EPS for the current year.

Institutional Investors Weigh In On TaskUs

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Olympiad Research LP acquired a new position in TaskUs in the fourth quarter valued at approximately $185,000. Quarry LP grew its position in shares of TaskUs by 326.6% in the 4th 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 last quarter. Janney Montgomery Scott LLC raised its stake 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 in the last quarter. Lord Abbett & CO. LLC lifted its position in TaskUs by 26.5% in the first quarter. Lord Abbett & CO. LLC now owns 744,222 shares of the company’s stock valued at $8,670,000 after acquiring an additional 155,751 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in TaskUs by 145.3% in the first 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 in the last quarter. 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.