TaskUs, Inc. (NASDAQ:TASK) Receives $11.20 Average PT from Analysts

TaskUs, Inc. (NASDAQ:TASK) has been given a consensus recommendation of “Hold” by the eight research firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $11.20.

A number of research firms have weighed in on TASK. The Goldman Sachs Group dropped their target price on shares of TaskUs from $10.00 to $7.00 and set a “sell” rating on the stock in a research note on Thursday, May 7th. Wall Street Zen cut shares of TaskUs from a “buy” rating to a “hold” rating in a research note on Monday, May 11th. Royal Bank Of Canada dropped their target price on shares of TaskUs from $17.00 to $13.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 26th. Weiss Ratings cut shares of TaskUs from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, April 16th. Finally, Piper Sandler cut shares of TaskUs to a “neutral” rating in a research note on Friday, February 27th.

Insiders Place Their Bets

In other TaskUs news, insider Jarrod Johnson sold 25,000 shares of the business’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $6.78, for a total value of $169,500.00. Following the transaction, the insider directly owned 36,536 shares in the company, valued at $247,714.08. The trade was a 40.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 31.92% of the stock is currently owned by insiders.

Institutional Trading of TaskUs

Several hedge funds and other institutional investors have recently modified their holdings of TASK. Allworth Financial LP raised its position in shares of TaskUs by 9,224.0% in the fourth quarter. Allworth Financial LP now owns 2,331 shares of the company’s stock valued at $27,000 after purchasing an additional 2,306 shares during the period. FNY Investment Advisers LLC raised its position in shares of TaskUs by 40.0% in the fourth quarter. FNY Investment Advisers LLC now owns 3,500 shares of the company’s stock valued at $41,000 after purchasing an additional 1,000 shares during the period. Strategic Advocates LLC bought a new stake in shares of TaskUs in the third quarter valued at approximately $41,000. State of Wyoming bought a new stake in shares of TaskUs in the fourth quarter valued at approximately $59,000. Finally, New York State Common Retirement Fund bought a new stake in shares of TaskUs in the second quarter valued at approximately $67,000. Institutional investors own 44.64% of the company’s stock.

TaskUs Stock Up 4.1%

TASK opened at $4.88 on Thursday. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 1.73. The stock has a market cap of $446.91 million, a price-to-earnings ratio of 4.28 and a beta of 1.85. TaskUs has a twelve month low of $4.68 and a twelve month high of $18.39. The company’s 50-day moving average price is $6.04 and its two-hundred day moving average price is $8.91.

TaskUs (NASDAQ:TASK) last released its earnings results on Wednesday, May 6th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The firm had revenue of $306.27 million for the quarter, compared to analysts’ expectations of $296.68 million. TaskUs had a net margin of 8.70% and a return on equity of 24.93%. As a group, equities analysts expect that TaskUs will post 1.08 earnings per share for the current year.

TaskUs Company Profile

TaskUs, Inc is a leading provider of outsourced digital customer experience and business process solutions, specializing in high-touch services for technology and digital-native companies. The firm delivers a range of offerings including customer care, content moderation, trust and safety monitoring, back-office processing and AI operations support. By combining technology-driven platforms with human-centric workflows, TaskUs helps clients optimize operational efficiency and maintain brand integrity across digital channels.

The company was founded in 2008 by Jaspar Weir and Bryce Maddock with the goal of reimagining traditional outsourcing through a focus on culture, technology and innovation.