Citigroup Increases TaskUs (NASDAQ:TASK) Price Target to $19.00

TaskUs (NASDAQ:TASK) had its target price hoisted by Citigroup from $18.00 to $19.00 in a research note issued to investors on Monday, Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other equities analysts also recently commented on the stock. The Goldman Sachs Group initiated coverage on shares of TaskUs in a research note on Monday, June 24th. They set a sell rating and a $12.00 target price for the company. Royal Bank of Canada boosted their target price on TaskUs from $17.00 to $18.00 and gave the company a sector perform rating in a report on Friday, August 9th. Bank of America raised shares of TaskUs from an underperform rating to a neutral rating and increased their price target for the stock from $12.00 to $18.00 in a report on Monday, July 22nd. Finally, Robert W. Baird upped 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 equities 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $15.13.

TaskUs Price Performance

Shares of NASDAQ TASK opened at $13.99 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.36 and a quick ratio of 3.36. The company has a market cap of $1.23 billion, a price-to-earnings ratio of 27.37, a price-to-earnings-growth ratio of 5.79 and a beta of 2.33. The stock’s 50-day moving average is $14.63 and its two-hundred day moving average is $13.29. TaskUs has a 1-year low of $7.95 and a 1-year high of $17.97.

Hedge Funds Weigh In On TaskUs

A number of large investors have recently modified their holdings of the company. Lord Abbett & CO. LLC raised its stake in shares of TaskUs by 26.5% in the 1st quarter. Lord Abbett & CO. LLC now owns 744,222 shares of the company’s stock valued at $8,670,000 after acquiring an additional 155,751 shares during the period. Dalton Investments Inc. lifted its stake in shares of TaskUs by 2.5% during the second quarter. Dalton Investments Inc. now owns 636,458 shares of the company’s stock worth $8,471,000 after purchasing an additional 15,300 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of TaskUs by 12.8% in the second quarter. Renaissance Technologies LLC now owns 440,523 shares of the company’s stock worth $5,863,000 after buying an additional 50,000 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of TaskUs by 15.2% in the second quarter. Dimensional Fund Advisors LP now owns 392,504 shares of the company’s stock valued at $5,224,000 after buying an additional 51,935 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of TaskUs by 145.3% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 120,920 shares of the company’s stock valued at $1,409,000 after buying an additional 71,621 shares during the period. 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.