Royal Bank of Canada Lowers TaskUs (NASDAQ:TASK) Price Target to $16.50

TaskUs (NASDAQ:TASK) had its target price dropped by research analysts at Royal Bank of Canada from $20.00 to $16.50 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target suggests a potential downside of 1.46% from the company’s current price.

Separately, Robert W. Baird lowered TaskUs from an “outperform” rating to a “neutral” rating and set a $16.50 target price for the company. in a research report on Monday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, TaskUs currently has a consensus rating of “Hold” and an average target price of $16.86.

TaskUs Stock Down 0.6%

NASDAQ TASK traded down $0.11 during mid-day trading on Monday, reaching $16.75. 941,753 shares of the company’s stock traded hands, compared to its average volume of 300,109. TaskUs has a 1-year low of $10.57 and a 1-year high of $19.60. The company has a fifty day simple moving average of $13.37 and a 200-day simple moving average of $14.76. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 0.50. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 28.36, a P/E/G ratio of 3.92 and a beta of 2.16.

TaskUs (NASDAQ:TASK) last issued its earnings results on Monday, May 12th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.03). The firm had revenue of $277.79 million during the quarter, compared to analyst estimates of $271.06 million. TaskUs had a return on equity of 17.73% and a net margin of 5.58%. As a group, equities research analysts expect that TaskUs will post 0.9 EPS for the current year.

Insider Buying and Selling

In other TaskUs news, insider Jarrod Johnson sold 21,437 shares of TaskUs stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $13.60, for a total transaction of $291,543.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 30.63% of the company’s stock.

Institutional Trading of TaskUs

Hedge funds have recently added to or reduced their stakes in the business. Think Investments LP raised its stake in shares of TaskUs by 14.5% in the 4th quarter. Think Investments LP now owns 2,881,513 shares of the company’s stock worth $48,813,000 after buying an additional 364,608 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of TaskUs by 85.9% in the 1st quarter. SG Americas Securities LLC now owns 651,838 shares of the company’s stock worth $8,885,000 after buying an additional 301,119 shares in the last quarter. JPMorgan Chase & Co. bought a new stake in shares of TaskUs in the 3rd quarter worth $1,006,000. Royce & Associates LP raised its stake in shares of TaskUs by 10.9% in the 4th quarter. Royce & Associates LP now owns 742,679 shares of the company’s stock worth $12,581,000 after buying an additional 73,100 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of TaskUs by 7.9% in the 4th quarter. Ameriprise Financial Inc. now owns 957,653 shares of the company’s stock worth $16,223,000 after buying an additional 69,704 shares in the last quarter. 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.