Brokerages Set TaskUs, Inc. (NASDAQ:TASK) Price Target at $51.38

TaskUs, Inc. (NASDAQ:TASKGet Rating) has been assigned a consensus recommendation of “Moderate Buy” from the nine research firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $51.38.

Several research analysts have issued reports on the stock. Royal Bank of Canada dropped their target price on shares of TaskUs from $62.00 to $46.00 and set an “outperform” rating on the stock in a report on Tuesday, March 1st. The Goldman Sachs Group decreased their price target on shares of TaskUs from $77.00 to $66.00 and set a “buy” rating for the company in a research report on Tuesday, March 1st. Wells Fargo & Company assumed coverage on shares of TaskUs in a research report on Monday, April 4th. They set an “equal weight” rating and a $42.00 price target for the company. BTIG Research decreased their price target on shares of TaskUs from $60.00 to $45.00 in a research report on Tuesday, May 10th. Finally, Robert W. Baird decreased their price target on shares of TaskUs from $50.00 to $34.00 in a research report on Tuesday, May 10th.

A number of institutional investors and hedge funds have recently bought and sold shares of TASK. Wasatch Advisors Inc. acquired a new stake in shares of TaskUs during the 4th quarter worth approximately $78,519,000. Sylebra Capital Ltd acquired a new stake in TaskUs in the 3rd quarter valued at $71,069,000. Massachusetts Financial Services Co. MA grew its stake in TaskUs by 83.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,306,629 shares of the company’s stock valued at $88,713,000 after acquiring an additional 1,050,248 shares during the period. 3G Capital Partners LP grew its stake in TaskUs by 121.4% in the 4th quarter. 3G Capital Partners LP now owns 1,550,000 shares of the company’s stock valued at $83,638,000 after acquiring an additional 850,000 shares during the period. Finally, Kornitzer Capital Management Inc. KS grew its stake in TaskUs by 129.6% in the 1st quarter. Kornitzer Capital Management Inc. KS now owns 1,220,606 shares of the company’s stock valued at $46,945,000 after acquiring an additional 688,916 shares during the period. 76.08% of the stock is owned by institutional investors.

NASDAQ TASK opened at $17.01 on Tuesday. The company’s 50-day moving average price is $24.00 and its 200-day moving average price is $33.21. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.45. The stock has a market cap of $1.65 billion and a PE ratio of -22.68. TaskUs has a 12 month low of $14.38 and a 12 month high of $85.49.

TaskUs (NASDAQ:TASKGet Rating) last issued its earnings results on Monday, May 9th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. TaskUs had a negative net margin of 7.51% and a positive return on equity of 19.14%. The company had revenue of $239.70 million for the quarter, compared to analysts’ expectations of $230.81 million. TaskUs’s revenue was up 56.8% on a year-over-year basis. As a group, sell-side analysts forecast that TaskUs will post 0.71 earnings per share for the current year.

TaskUs Company Profile (Get Rating)

TaskUs, Inc provides digital outsourcing services for companies worldwide. It offers digital customer experience that consists of omni-channel customer care services primarily delivered through digital channels; and other solutions, including customer care services for new product or market launches, trust and safety solutions, and customer acquisition solutions.

Further Reading

Analyst Recommendations for TaskUs (NASDAQ:TASK)

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