TaskUs (NASDAQ:TASK) Price Target Raised to $18.00

TaskUs (NASDAQ:TASK) had its target price upped by stock analysts at Royal Bank of Canada from $17.00 to $18.00 in a report issued on Friday, Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 16.50% from the stock’s previous close.

Several other equities analysts also recently weighed in on TASK. Citigroup increased their target price on TaskUs from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. The Goldman Sachs Group initiated coverage on TaskUs in a research report on Monday, June 24th. They set a “sell” rating and a $12.00 target price on the stock. Bank of America upgraded TaskUs from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $12.00 to $18.00 in a research report on Monday, July 22nd. Finally, Robert W. Baird raised their price objective on TaskUs from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, TaskUs presently has a consensus rating of “Hold” and an average target price of $15.00.

TaskUs Price Performance

Shares of TASK traded down $0.12 during trading hours on Friday, reaching $15.45. 623,979 shares of the company traded hands, compared to its average volume of 212,248. The company has a quick ratio of 3.36, a current ratio of 3.36 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $1.36 billion, a PE ratio of 30.29, a price-to-earnings-growth ratio of 5.76 and a beta of 2.33. TaskUs has a fifty-two week low of $7.95 and a fifty-two week high of $17.97. The stock has a fifty day simple moving average of $14.71 and a 200 day simple moving average of $13.28.

TaskUs (NASDAQ:TASK) last released its earnings results on Wednesday, May 8th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.02. TaskUs had a return on equity of 16.61% and a net margin of 5.23%. The firm had revenue of $227.47 million for the quarter, compared to the consensus estimate of $223.50 million. As a group, research analysts predict that TaskUs will post 0.83 EPS for the current fiscal year.

Hedge Funds Weigh In On TaskUs

A number of large investors have recently modified their holdings of the company. nVerses Capital LLC acquired a new stake in shares of TaskUs in the second quarter valued at about $28,000. Quarry LP grew its stake in shares of TaskUs by 326.6% in the fourth quarter. Quarry LP now owns 4,321 shares of the company’s stock valued at $56,000 after buying an additional 3,308 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of TaskUs in the fourth quarter valued at about $64,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of TaskUs by 55.3% in the second 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. Finally, Olympiad Research LP acquired a new stake in shares of TaskUs in the fourth quarter valued at about $185,000. 44.64% of the stock is currently owned by hedge funds and other institutional investors.

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.