TaskUs (NASDAQ:TASK) Sees Strong Trading Volume

TaskUs, Inc. (NASDAQ:TASKGet 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.

TaskUs (NASDAQ:TASKGet Rating) last posted its quarterly earnings results on Monday, August 8th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.07). The company had revenue of $246.46 million during the quarter, compared to analysts’ expectations of $242.09 million. TaskUs had a net margin of 5.48% and a return on equity of 12.80%. TaskUs’s revenue for the quarter was up 36.9% on a year-over-year basis. During the same quarter last year, the company earned $0.27 earnings per share. Analysts anticipate that TaskUs, Inc. will post 0.47 earnings per share for the current year.

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.

About TaskUs

(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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