TaskUs, Inc. (NASDAQ:TASK – Get Free Report) shares dropped 6.9% during mid-day trading on Friday after JPMorgan Chase & Co. lowered their price target on the stock from $17.00 to $15.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. TaskUs traded as low as $12.32 and last traded at $12.35. Approximately 284,131 shares changed hands during trading, an increase of 29% from the average daily volume of 220,171 shares. The stock had previously closed at $13.27.
Several other research analysts have also recently issued reports on the stock. Citigroup increased their price target on shares of TaskUs from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Royal Bank of Canada raised their price target on TaskUs from $17.00 to $18.00 and gave the company a “sector perform” rating in a report on Friday, August 9th. The Goldman Sachs Group assumed coverage on TaskUs in a research note on Monday, June 24th. They issued a “sell” rating and a $12.00 price target on the stock. Robert W. Baird increased their price objective on TaskUs from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Thursday, July 11th. Finally, Bank of America upgraded shares of TaskUs from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $12.00 to $18.00 in a research report on Monday, July 22nd. One 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.com, TaskUs presently has an average rating of “Hold” and an average price target of $15.38.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the company. nVerses Capital LLC acquired a new stake in TaskUs in the 2nd quarter valued at about $28,000. Quarry LP raised 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 worth $56,000 after purchasing an additional 3,308 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in TaskUs by 55.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,581 shares of the company’s stock valued at $74,000 after buying an additional 1,988 shares in the last quarter. Olympiad Research LP acquired a new stake in TaskUs during the 4th quarter valued at $185,000. Finally, Hsbc Holdings PLC increased its position in TaskUs by 19.7% during the second quarter. Hsbc Holdings PLC now owns 16,885 shares of the company’s stock worth $225,000 after buying an additional 2,779 shares in the last quarter. Hedge funds and other institutional investors own 44.64% of the company’s stock.
TaskUs Stock Performance
The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 0.54. The stock has a fifty day moving average price of $14.67 and a two-hundred day moving average price of $13.40. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 23.84, a PEG ratio of 3.62 and a beta of 2.30.
TaskUs (NASDAQ:TASK – Get Free Report) last announced its earnings results on Thursday, August 8th. The company reported $0.20 earnings per share for the quarter, meeting the consensus estimate 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 the consensus estimate of $231.15 million. As a group, analysts forecast that TaskUs, Inc. will post 0.84 EPS for the current fiscal year.
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.