TaskUs (NASDAQ:TASK) Price Target Raised to $20.00 at Royal Bank of Canada

TaskUs (NASDAQ:TASK - Get Free Report) had its price objective increased by research analysts at Royal Bank of Canada from $18.00 to $20.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a "sector perform" rating on the stock. Royal Bank of Canada's price objective would indicate a potential upside of 51.17% from the stock's previous close.

TASK has been the topic of a number of other research reports. Morgan Stanley raised shares of TaskUs from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $18.00 to $21.00 in a research report on Friday, December 13th. Robert W. Baird increased their price objective on TaskUs from $16.00 to $20.00 and gave the company an "outperform" rating in a report on Friday, November 8th. Finally, Bank of America raised TaskUs from a "neutral" rating to a "buy" rating and set a $18.00 price objective for the company in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, TaskUs presently has an average rating of "Hold" and a consensus target price of $17.25.

TaskUs Trading Down 6.2 %

TASK stock traded down $0.88 during mid-day trading on Thursday, reaching $13.23. The company had a trading volume of 607,618 shares, compared to its average volume of 371,405. The company has a market capitalization of $1.18 billion, a PE ratio of 22.42, a price-to-earnings-growth ratio of 3.92 and a beta of 2.21. The firm has a 50 day moving average of $16.05 and a 200 day moving average of $14.53. TaskUs has a 12 month low of $10.56 and a 12 month high of $19.60. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.02 and a quick ratio of 3.02.

Remove Ads

TaskUs (NASDAQ:TASK - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.34 by ($0.12). The business had revenue of $274.24 million for the quarter, compared to the consensus estimate of $268.65 million. TaskUs had a net margin of 5.58% and a return on equity of 17.73%. On average, equities analysts predict that TaskUs will post 0.9 earnings per share for the current fiscal year.

Insider Buying and Selling at TaskUs

In other TaskUs news, COO Stephan Daoust sold 62,159 shares of TaskUs stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $18.23, for a total transaction of $1,133,158.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Steven Amaya sold 75,579 shares of the company's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $18.11, for a total value of $1,368,735.69. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 140,338 shares of company stock worth $2,548,902. 29.26% of the stock is currently owned by insiders.

Institutional Investors Weigh In On TaskUs

Several hedge funds have recently bought and sold shares of the stock. Think Investments LP lifted its stake in shares of TaskUs by 14.5% in the 4th quarter. Think Investments LP now owns 2,881,513 shares of the company's stock valued at $48,813,000 after purchasing an additional 364,608 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of TaskUs by 7.9% during the 4th quarter. Ameriprise Financial Inc. now owns 957,653 shares of the company's stock worth $16,223,000 after acquiring an additional 69,704 shares in the last quarter. Royce & Associates LP boosted its stake in shares of TaskUs by 10.9% during the 4th quarter. Royce & Associates LP now owns 742,679 shares of the company's stock worth $12,581,000 after acquiring an additional 73,100 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of TaskUs by 7.0% during the 4th quarter. Renaissance Technologies LLC now owns 497,623 shares of the company's stock valued at $8,430,000 after acquiring an additional 32,500 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in TaskUs by 5.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 471,011 shares of the company's stock worth $7,979,000 after purchasing an additional 23,713 shares in the last quarter. Hedge funds and other 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.