TaskUs (NASDAQ:TASK) Given New $14.00 Price Target at Citigroup

TaskUs (NASDAQ:TASK) had its price objective reduced by Citigroup from $16.00 to $14.00 in a report issued on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts also recently issued reports on the company. Bank of America upped their price target on TaskUs from $11.00 to $12.00 and gave the stock an underperform rating in a report on Thursday, February 29th. Royal Bank of Canada upped their price objective on TaskUs from $16.00 to $17.00 and gave the company a sector perform rating in a research note on Thursday, February 29th. Finally, Guggenheim began coverage on TaskUs in a research note on Tuesday, March 19th. They issued a neutral rating and a $13.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, TaskUs currently has a consensus rating of Hold and a consensus target price of $14.50.

TaskUs Stock Down 3.6 %

TASK stock opened at $11.03 on Monday. The firm has a market capitalization of $978.00 million, a PE ratio of 23.47, a P/E/G ratio of 3.15 and a beta of 2.35. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 0.58. TaskUs has a twelve month low of $7.95 and a twelve month high of $14.67. The stock’s 50 day moving average is $11.96 and its 200-day moving average is $11.80.

TaskUs (NASDAQ:TASK) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.05. TaskUs had a return on equity of 16.91% and a net margin of 4.94%. The business had revenue of $234.26 million during the quarter, compared to the consensus estimate of $225.96 million. Sell-side analysts expect that TaskUs will post 0.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Quarry LP lifted its position in shares of TaskUs by 326.6% during the 4th quarter. Quarry LP now owns 4,321 shares of the company’s stock valued at $56,000 after buying an additional 3,308 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of TaskUs during the 4th quarter valued at $64,000. Transatlantique Private Wealth LLC purchased a new position in shares of TaskUs during the 3rd quarter valued at $107,000. Olympiad Research LP purchased a new position in shares of TaskUs during the 4th quarter valued at $185,000. Finally, Paradigm Capital Management Inc. NY purchased a new position in shares of TaskUs during the 3rd quarter valued at $208,000. Hedge funds and other institutional investors own 44.64% of the company’s stock.

About TaskUs

TaskUs, Inc provides digital outsourcing services for companies in Philippines, the United States, India, and internationally. It offers digital customer experience that consists of omni-channel customer care services primarily delivered through non-voice digital channels; and other solutions, including experience and customer care services for new product or market launches, and customer acquisition solutions.