BTIG Research Lowers TaskUs (NASDAQ:TASK) Price Target to $30.00

TaskUs (NASDAQ:TASKGet Rating) had its price target reduced by equities researchers at BTIG Research to $30.00 in a research report issued to clients and investors on Tuesday, Stock Target Advisor reports. BTIG Research’s price objective would suggest a potential upside of 45.14% from the company’s current price.

A number of other equities analysts have also recently weighed in on the company. JPMorgan Chase & Co. decreased their price target on TaskUs from $41.00 to $35.00 in a report on Wednesday, July 20th. Wells Fargo & Company decreased 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. Morgan Stanley lowered TaskUs from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $28.00 to $19.00 in a research report on Monday, August 15th. Royal Bank of Canada cut their target price on TaskUs from $36.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 14th. Finally, The Goldman Sachs Group lowered TaskUs from a “buy” rating to a “neutral” rating and cut their target price for the company from $26.00 to $24.00 in a research report on Wednesday, August 10th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $30.00.

TaskUs Stock Down 7.1 %

NASDAQ TASK opened at $20.67 on Tuesday. The stock has a market cap of $2.01 billion, a PE ratio of 51.68, a P/E/G ratio of 3.16 and a beta of 2.95. TaskUs has a fifty-two week low of $13.60 and a fifty-two week high of $62.22. The business has a 50 day moving average price of $18.45 and a two-hundred day moving average price of $19.09. The company has a quick ratio of 3.07, a current ratio of 3.07 and a debt-to-equity ratio of 0.61.

Insider Activity at TaskUs

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

Institutional Investors Weigh In On TaskUs

Several large investors have recently added to or reduced their stakes in the stock. FMR LLC increased its position in TaskUs by 1.1% in the second quarter. FMR LLC now owns 4,158,412 shares of the company’s stock worth $70,111,000 after buying an additional 43,744 shares during the period. Massachusetts Financial Services Co. MA increased its position in 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 buying an additional 811,728 shares during the period. Vanguard Group Inc. increased its position in TaskUs by 9.1% in the third quarter. Vanguard Group Inc. now owns 2,746,708 shares of the company’s stock worth $44,222,000 after buying an additional 229,026 shares during the period. Wasatch Advisors Inc. increased its position in 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 buying an additional 683,441 shares during the period. Finally, 3G Capital Partners LP increased its position in 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 buying an additional 150,000 shares during the period. 25.23% of the stock is owned by institutional investors and hedge funds.

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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