TaskUs (NASDAQ:TASK) Price Target Lowered to $12.00 at Morgan Stanley

TaskUs (NASDAQ:TASK) had its price objective decreased by Morgan Stanley from $13.00 to $12.00 in a research report sent to investors on Tuesday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Other analysts also recently issued research reports about the stock. Royal Bank of Canada downgraded shares of TaskUs from an outperform rating to a sector perform rating and reduced their target price for the stock from $21.00 to $16.00 in a report on Thursday, August 10th. JPMorgan Chase & Co. downgraded shares of TaskUs from an overweight rating to a neutral rating and decreased their price target for the company from $16.00 to $12.00 in a research note on Thursday, August 10th. Robert W. Baird decreased their price target on shares of TaskUs from $14.00 to $12.00 and set an outperform rating on the stock in a research note on Wednesday, September 13th. Finally, Citigroup decreased their price target on shares of TaskUs from $14.00 to $11.00 and set a buy rating on the stock in a research note on Monday, October 16th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, TaskUs has an average rating of Hold and a consensus price target of $14.50.

TaskUs Stock Performance

Shares of TASK stock opened at $12.10 on Tuesday. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 30.25 and a beta of 2.32. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.83 and a current ratio of 2.83. The company has a 50-day simple moving average of $9.44 and a 200 day simple moving average of $10.78. TaskUs has a 52 week low of $7.95 and a 52 week high of $24.10.

TaskUs (NASDAQ:TASK) last announced its earnings results on Wednesday, August 9th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.02). The company had revenue of $229.17 million for the quarter, compared to the consensus estimate of $227.26 million. TaskUs had a return on equity of 13.38% and a net margin of 4.34%. On average, sell-side analysts predict that TaskUs will post 0.76 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Barclays PLC boosted its stake in TaskUs by 1.4% in the third quarter. Barclays PLC now owns 122,377 shares of the company’s stock valued at $1,270,000 after buying an additional 1,717 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of TaskUs by 3.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 57,793 shares of the company’s stock valued at $600,000 after purchasing an additional 1,848 shares in the last quarter. California State Teachers Retirement System grew its holdings in shares of TaskUs by 11.3% during the 2nd quarter. California State Teachers Retirement System now owns 24,234 shares of the company’s stock valued at $274,000 after purchasing an additional 2,458 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of TaskUs by 14.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 110,863 shares of the company’s stock valued at $1,255,000 after purchasing an additional 13,908 shares during the last quarter. Finally, Dana Investment Advisors Inc. grew its holdings in shares of TaskUs by 18.1% during the 2nd quarter. Dana Investment Advisors Inc. now owns 60,595 shares of the company’s stock valued at $686,000 after purchasing an additional 9,272 shares during the last quarter. Institutional investors own 22.69% of the company’s stock.

TaskUs Company Profile

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.