TaskUs (NASDAQ:TASK) PT Lowered to $30.00

TaskUs (NASDAQ:TASKGet Rating) had its price objective decreased by research analysts at BTIG Research from $37.00 to $30.00 in a research note issued to investors on Tuesday, The Fly reports. BTIG Research’s target price points to a potential upside of 58.56% from the company’s current price.

TASK has been the topic of a number of other reports. The Goldman Sachs Group lowered shares of TaskUs from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $26.00 to $24.00 in a research note on Wednesday, August 10th. Wells Fargo & Company decreased their price objective on shares of TaskUs from $20.00 to $18.00 and set an “equal weight” rating on the stock in a report on Thursday, September 8th. Citigroup decreased their price objective on shares of TaskUs from $28.00 to $23.00 in a report on Tuesday, August 9th. JPMorgan Chase & Co. decreased their price objective on shares of TaskUs from $41.00 to $35.00 in a report on Wednesday, July 20th. Finally, Robert W. Baird decreased their price objective on shares of TaskUs from $34.00 to $24.00 and set an “outperform” rating on the stock in a report on Tuesday, August 9th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

TaskUs Trading Down 14.0 %

NASDAQ TASK opened at $18.92 on Tuesday. 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 firm has a market cap of $1.84 billion, a PE ratio of 47.30, a P/E/G ratio of 2.41 and a beta of 2.95. TaskUs has a one year low of $13.60 and a one year high of $66.84. The firm’s fifty day moving average is $17.75 and its two-hundred day moving average is $19.37.

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

Insider Activity at TaskUs

In other news, Director Kelly L. Tuminelli acquired 4,000 shares of TaskUs stock in a transaction that occurred on Tuesday, September 13th. The shares were acquired at an average price of $18.36 per share, with a total value of $73,440.00. Following the completion of the purchase, the director now owns 6,846 shares of the company’s stock, valued at approximately $125,692.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 23.96% of the company’s stock.

Hedge Funds Weigh In On TaskUs

Several institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC increased its position in TaskUs by 1.1% during the second quarter. FMR LLC now owns 4,158,412 shares of the company’s stock worth $70,111,000 after purchasing an additional 43,744 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of TaskUs by 26.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,852,513 shares of the company’s stock worth $62,026,000 after acquiring an additional 811,728 shares in the last quarter. Wasatch Advisors Inc. increased its position in shares of TaskUs by 47.0% in the first quarter. Wasatch Advisors Inc. now owns 2,138,576 shares of the company’s stock worth $82,250,000 after acquiring an additional 683,441 shares in the last quarter. 3G Capital Partners LP increased its position in shares of TaskUs by 9.7% in the first quarter. 3G Capital Partners LP now owns 1,700,000 shares of the company’s stock worth $65,382,000 after acquiring an additional 150,000 shares in the last quarter. Finally, Sylebra Capital Ltd increased its position in shares of TaskUs by 15.1% in the first quarter. Sylebra Capital Ltd now owns 1,482,937 shares of the company’s stock worth $57,034,000 after acquiring an additional 194,517 shares in the last quarter. Institutional investors and hedge funds own 25.23% of the company’s stock.

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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