TaskUs (NASDAQ:TASK) Price Target Cut to $15.00

TaskUs (NASDAQ:TASK) had its price target reduced by JPMorgan Chase & Co. from $17.00 to $15.00 in a report published on Friday, Benzinga reports. They currently have a neutral rating on the stock.

TASK has been the topic of several other research reports. Citigroup boosted their price target on TaskUs from $18.00 to $19.00 and gave the company a buy rating in a research report on Monday, August 12th. Royal Bank of Canada boosted their target price on TaskUs from $17.00 to $18.00 and gave the company a sector perform rating in a report on Friday, August 9th. Bank of America upgraded TaskUs from an underperform rating to a neutral rating and upped their price target for the stock from $12.00 to $18.00 in a research note on Monday, July 22nd. The Goldman Sachs Group started coverage on shares of TaskUs in a research report on Monday, June 24th. They issued a sell rating and a $12.00 price objective on the stock. Finally, Robert W. Baird upped their price objective on shares of TaskUs from $14.00 to $16.00 and gave the stock an outperform rating in a research report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $15.38.

TaskUs Price Performance

TASK stock opened at $12.12 on Friday. The business has a 50 day simple moving average of $14.65 and a 200-day simple moving average of $13.42. The company has a market capitalization of $1.08 billion, a P/E ratio of 23.77, a PEG ratio of 3.31 and a beta of 2.30. TaskUs has a twelve month low of $7.95 and a twelve month high of $17.97. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 0.54.

TaskUs (NASDAQ:TASK) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.20 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.20. TaskUs had a net margin of 5.44% and a return on equity of 16.93%. The firm had revenue of $237.93 million during the quarter, compared to analysts’ expectations of $231.15 million. As a group, equities analysts anticipate that TaskUs will post 0.84 EPS for the current year.

Hedge Funds Weigh In On TaskUs

A number of large investors have recently made changes to their positions in TASK. Lord Abbett & CO. LLC increased its holdings in TaskUs by 26.5% in the first quarter. Lord Abbett & CO. LLC now owns 744,222 shares of the company’s stock valued at $8,670,000 after buying an additional 155,751 shares in the last quarter. LSV Asset Management acquired a new stake in shares of TaskUs in the 2nd quarter worth approximately $990,000. Jacobs Levy Equity Management Inc. increased its stake in TaskUs by 145.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 120,920 shares of the company’s stock valued at $1,409,000 after purchasing an additional 71,621 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in TaskUs by 15.2% during the second quarter. Dimensional Fund Advisors LP now owns 392,504 shares of the company’s stock worth $5,224,000 after purchasing an additional 51,935 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in TaskUs by 12.8% during the second quarter. Renaissance Technologies LLC now owns 440,523 shares of the company’s stock worth $5,863,000 after purchasing an additional 50,000 shares in the last quarter. Hedge funds and other institutional investors own 44.64% of the company’s stock.

TaskUs Company Profile

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.