TaskUs (NASDAQ:TASK) Price Target Lowered to $45.00 at BTIG Research

TaskUs (NASDAQ:TASKGet Rating) had its price target decreased by BTIG Research from $60.00 to $45.00 in a research report issued to clients and investors on Tuesday, The Fly reports. BTIG Research’s price target indicates a potential upside of 92.88% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank of Canada reduced their target price on shares of TaskUs from $62.00 to $46.00 and set an “outperform” rating for the company in a research note on Tuesday, March 1st. The Goldman Sachs Group reduced their price objective on TaskUs from $77.00 to $66.00 and set a “buy” rating for the company in a research report on Tuesday, March 1st. Robert W. Baird decreased their price objective on TaskUs from $50.00 to $34.00 in a report on Tuesday. Wells Fargo & Company assumed coverage on TaskUs in a research note on Monday, April 4th. They issued an “equal weight” rating and a $42.00 target price for the company. Finally, Zacks Investment Research downgraded shares of TaskUs from a “buy” rating to a “hold” rating in a research note on Friday, March 11th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $49.78.

Shares of NASDAQ TASK opened at $23.33 on Tuesday. TaskUs has a 12 month low of $22.42 and a 12 month high of $85.49. The stock has a 50 day simple moving average of $34.35. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.49.

TaskUs (NASDAQ:TASKGet Rating) last announced its earnings results on Monday, May 9th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.24. The company had revenue of $239.70 million for the quarter, compared to the consensus estimate of $230.81 million. The firm’s quarterly revenue was up 56.8% compared to the same quarter last year. On average, research analysts forecast that TaskUs will post 0.63 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of the company. Mawer Investment Management Ltd. bought a new position in shares of TaskUs in the third quarter valued at approximately $48,869,000. Kornitzer Capital Management Inc. KS boosted its stake in TaskUs by 295.2% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 531,690 shares of the company’s stock worth $28,690,000 after purchasing an additional 397,170 shares in the last quarter. Total Clarity Wealth Management Inc. acquired a new position in TaskUs in the fourth quarter worth $424,000. Advisor Group Holdings Inc. grew its holdings in shares of TaskUs by 429.4% during the third quarter. Advisor Group Holdings Inc. now owns 1,403 shares of the company’s stock worth $93,000 after purchasing an additional 1,138 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its stake in shares of TaskUs by 5,146.0% in the third quarter. Cubist Systematic Strategies LLC now owns 5,246 shares of the company’s stock valued at $348,000 after buying an additional 5,146 shares in the last quarter. Institutional investors own 76.08% of the company’s stock.

TaskUs Company Profile (Get Rating)

TaskUs, Inc provides digital outsourcing services for companies worldwide. It offers digital customer experience that consists of omni-channel customer care services primarily delivered through digital channels; and other solutions, including customer care services for new product or market launches, trust and safety solutions, and customer acquisition solutions.

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