TaskUs (NASDAQ:TASK) Price Target Cut to $34.00

TaskUs (NASDAQ:TASKGet Rating) had its price objective reduced by Robert W. Baird from $50.00 to $34.00 in a report released on Tuesday morning, The Fly reports.

Other research analysts have also recently issued reports about the company. Wells Fargo & Company started coverage on TaskUs in a research note on Monday, April 4th. They set an equal weight rating and a $42.00 target price for the company. Royal Bank of Canada lowered their target price on TaskUs from $62.00 to $46.00 and set an outperform rating for the company in a research note on Tuesday, March 1st. The Goldman Sachs Group lowered their target price on TaskUs from $77.00 to $66.00 and set a buy rating for the company in a research note on Tuesday, March 1st. Finally, Zacks Investment Research cut TaskUs from a buy rating to a hold rating in a research note on Friday, March 11th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, TaskUs has an average rating of Buy and an average price target of $48.00.

Shares of NASDAQ TASK opened at $22.61 on Tuesday. TaskUs has a twelve month low of $18.22 and a twelve month high of $85.49. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.49. The stock has a fifty day simple moving average of $33.42 and a 200-day simple moving average of $39.55. The stock has a market capitalization of $2.20 billion and a PE ratio of -30.15.

TaskUs (NASDAQ:TASKGet Rating) last issued its quarterly earnings data on Monday, May 9th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.24. TaskUs had a positive return on equity of 19.98% and a negative net margin of 7.51%. The business had revenue of $239.70 million during the quarter, compared to analysts’ expectations of $230.81 million. The firm’s revenue was up 56.8% compared to the same quarter last year. On average, equities analysts predict that TaskUs will post 0.63 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA grew its holdings in TaskUs by 83.6% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,306,629 shares of the company’s stock valued at $88,713,000 after buying an additional 1,050,248 shares during the last quarter. Wasatch Advisors Inc. grew its holdings in TaskUs by 47.0% during the 1st quarter. Wasatch Advisors Inc. now owns 2,138,576 shares of the company’s stock valued at $82,250,000 after buying an additional 683,441 shares during the last quarter. 3G Capital Partners LP grew its holdings in TaskUs by 121.4% during the 4th quarter. 3G Capital Partners LP now owns 1,550,000 shares of the company’s stock valued at $83,638,000 after buying an additional 850,000 shares during the last quarter. Sylebra Capital Ltd grew its holdings in TaskUs by 20.3% during the 4th quarter. Sylebra Capital Ltd now owns 1,288,420 shares of the company’s stock valued at $69,523,000 after buying an additional 217,613 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS grew its holdings in TaskUs by 129.6% during the 1st quarter. Kornitzer Capital Management Inc. KS now owns 1,220,606 shares of the company’s stock valued at $46,945,000 after buying an additional 688,916 shares during the last quarter. 76.08% of the stock is owned by hedge funds and other institutional investors.

TaskUs Company Profile (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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