TaskUs (NASDAQ:TASK) Trading Down 3.8% - What's Next?

TaskUs, Inc. (NASDAQ:TASK - Get Free Report) shares traded down 3.8% during trading on Monday . The stock traded as low as $17.52 and last traded at $17.76. 84,428 shares changed hands during trading, a decline of 62% from the average session volume of 222,891 shares. The stock had previously closed at $18.46.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Robert W. Baird lifted their target price on TaskUs from $16.00 to $20.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. Bank of America raised TaskUs from a "neutral" rating to a "buy" rating and set a $18.00 price objective on the stock in a research note on Monday, December 9th. JPMorgan Chase & Co. dropped their price objective on TaskUs from $17.00 to $15.00 and set a "neutral" rating on the stock in a research note on Friday, September 6th. Finally, Morgan Stanley raised TaskUs from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $18.00 to $21.00 in a research note on Friday. One 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's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $17.00.

TaskUs Price Performance

The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 0.50. The business has a fifty day simple moving average of $14.10 and a 200 day simple moving average of $13.99. The stock has a market capitalization of $1.57 billion, a P/E ratio of 29.88, a price-to-earnings-growth ratio of 4.67 and a beta of 2.31.

Hedge Funds Weigh In On TaskUs

Institutional investors have recently modified their holdings of the business. Jane Street Group LLC raised its position in shares of TaskUs by 9.9% in the third quarter. Jane Street Group LLC now owns 21,761 shares of the company's stock worth $281,000 after buying an additional 1,959 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of TaskUs by 55.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,581 shares of the company's stock worth $74,000 after buying an additional 1,988 shares during the period. nVerses Capital LLC purchased a new position in shares of TaskUs in the second quarter worth about $28,000. US Bancorp DE increased its holdings in shares of TaskUs by 101.2% in the third quarter. US Bancorp DE now owns 5,001 shares of the company's stock worth $65,000 after buying an additional 2,516 shares during the period. Finally, Hsbc Holdings PLC increased its holdings in shares of TaskUs by 19.7% in the second quarter. Hsbc Holdings PLC now owns 16,885 shares of the company's stock worth $225,000 after buying an additional 2,779 shares during the period. 44.64% of the stock is owned by institutional investors.

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.