Analysts Set TaskUs, Inc. (NASDAQ:TASK) Price Target at $17.00

Shares of TaskUs, Inc. (NASDAQ:TASK) have received an average rating of “Hold” from the eight research firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $17.00.

TASK has been the subject of a number of research analyst reports. Robert W. Baird upped their price objective on shares of TaskUs from $16.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Morgan Stanley upgraded shares of TaskUs from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $18.00 to $21.00 in a research report on Friday, December 13th. Finally, Bank of America upgraded TaskUs from a “neutral” rating to a “buy” rating and set a $18.00 price objective on the stock in a report on Monday, December 9th.

TaskUs Price Performance

NASDAQ:TASK opened at $15.64 on Thursday. The stock has a market capitalization of $1.40 billion, a PE ratio of 26.51, a price-to-earnings-growth ratio of 3.92 and a beta of 2.21. TaskUs has a 52 week low of $10.56 and a 52 week high of $19.60. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.50. The stock’s 50-day moving average price is $16.13 and its 200-day moving average price is $14.52.

TaskUs (NASDAQ:TASK) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.12). TaskUs had a net margin of 5.58% and a return on equity of 17.73%. As a group, equities analysts expect that TaskUs will post 0.9 EPS for the current fiscal year.

Insider Activity at TaskUs

In other news, COO Stephan Daoust sold 62,159 shares of TaskUs stock in a transaction on 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 SEC, which is available at this link. Also, CAO Steven Amaya sold 2,600 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $18.08, for a total transaction of $47,008.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 140,338 shares of company stock valued at $2,548,902. Corporate insiders own 29.26% of the company’s stock.

Hedge Funds Weigh In On TaskUs

A number of institutional investors have recently bought and sold shares of the company. Seldon Capital LP acquired a new stake in shares of TaskUs during the 3rd quarter worth approximately $5,393,000. Think Investments LP grew its position in TaskUs by 14.5% in the fourth quarter. Think Investments LP now owns 2,881,513 shares of the company’s stock worth $48,813,000 after acquiring an additional 364,608 shares during the period. SG Americas Securities LLC increased its stake in TaskUs by 217.0% during the fourth quarter. SG Americas Securities LLC now owns 350,719 shares of the company’s stock worth $5,941,000 after acquiring an additional 240,093 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in TaskUs by 47.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 263,734 shares of the company’s stock valued at $3,407,000 after purchasing an additional 84,988 shares during the period. Finally, JPMorgan Chase & Co. acquired a new position in shares of TaskUs in the 3rd quarter valued at $1,006,000. 44.64% of the stock is owned by hedge funds and other 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.