TaskUs, Inc. (NASDAQ:TASK – Get Rating) shares saw unusually-high trading volume on Monday . Approximately 14,191 shares changed hands during mid-day trading, a decline of 98% from the previous session’s volume of 712,493 shares.The stock last traded at $19.17 and had previously closed at $18.99.
Analyst Ratings Changes
TASK has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their price target on TaskUs from $41.00 to $35.00 in a report on Wednesday, July 20th. Morgan Stanley cut TaskUs from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $28.00 to $19.00 in a report on Monday, August 15th. Royal Bank of Canada reduced their price target on TaskUs from $41.00 to $36.00 and set an “outperform” rating for the company in a report on Tuesday, August 9th. Wells Fargo & Company reduced their price target on TaskUs from $20.00 to $18.00 and set an “equal weight” rating for the company in a report on Thursday, September 8th. Finally, Citigroup reduced their price target on TaskUs from $28.00 to $23.00 in a report on Tuesday, August 9th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $31.89.
TaskUs Trading Down 4.3 %
The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.65 and a current ratio of 1.65. The company has a 50 day simple moving average of $17.85 and a 200 day simple moving average of $24.44. The company has a market capitalization of $1.77 billion, a PE ratio of 39.48, a price-to-earnings-growth ratio of 2.96 and a beta of 3.70.
Institutional Investors Weigh In On TaskUs
Large investors have recently made changes to their positions in the stock. Fifth Third Bancorp purchased a new stake in shares of TaskUs in the first quarter valued at approximately $30,000. Advisors Asset Management Inc. purchased a new position in TaskUs in the first quarter worth approximately $42,000. Icapital Wealth LLC purchased a new position in TaskUs in the first quarter worth approximately $55,000. Ensign Peak Advisors Inc purchased a new position in TaskUs in the fourth quarter worth approximately $122,000. Finally, Canada Pension Plan Investment Board purchased a new position in TaskUs in the first quarter worth approximately $108,000. 25.23% of the stock is currently owned by hedge funds and other institutional investors.
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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