TaskUs (NASDAQ:TASK) Trading Up 3.3%

Shares of TaskUs, Inc. (NASDAQ:TASK) shot up 3.3% on Wednesday . The company traded as high as $11.14 and last traded at $11.02. 76,960 shares traded hands during trading, a decline of 64% from the average session volume of 212,283 shares. The stock had previously closed at $10.67.

Analysts Set New Price Targets

A number of research firms recently weighed in on TASK. Citigroup raised their price target on TaskUs from $13.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Guggenheim began coverage on TaskUs in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $13.00 target price for the company. Royal Bank of Canada lifted their target price 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, Bank of America lifted their target price on TaskUs from $11.00 to $12.00 and gave the company an “underperform” rating in a research note on Thursday, February 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $14.63.

TaskUs Trading Up 5.5 %

The company has a debt-to-equity ratio of 0.58, a current ratio of 3.23 and a quick ratio of 3.23. The business has a 50 day moving average of $12.01 and a 200 day moving average of $11.75. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 23.06, a PEG ratio of 3.01 and a beta of 2.35.

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

Institutional Trading of TaskUs

A number of hedge funds and other institutional investors have recently modified their holdings of TASK. JPMorgan Chase & Co. increased its position in shares of TaskUs by 395.7% in the first quarter. JPMorgan Chase & Co. now owns 35,094 shares of the company’s stock valued at $1,350,000 after acquiring an additional 28,015 shares during the last quarter. Raymond James & Associates increased its position in shares of TaskUs by 142.0% in the first quarter. Raymond James & Associates now owns 67,497 shares of the company’s stock valued at $2,596,000 after acquiring an additional 39,603 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of TaskUs by 10.4% in the first quarter. Bank of New York Mellon Corp now owns 12,036 shares of the company’s stock valued at $463,000 after acquiring an additional 1,138 shares during the last quarter. BlackRock Inc. increased its position in TaskUs by 11.9% during the first quarter. BlackRock Inc. now owns 500,424 shares of the company’s stock worth $19,247,000 after buying an additional 53,050 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in TaskUs during the first quarter worth approximately $108,000. Institutional investors and hedge funds 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.