TaskUs (NASDAQ:TASK) Stock Price Down 3.8% – Should You Sell?

Shares of TaskUs, Inc. (NASDAQ:TASK) fell 3.8% on Monday . The stock traded as low as $17.52 and last traded at $17.76. 84,428 shares changed hands during trading, a decline of 62% from the average session volume of 222,891 shares. The stock had previously closed at $18.46.

Wall Street Analysts Forecast Growth

TASK has been the topic of a number of research analyst reports. JPMorgan Chase & Co. dropped their price target on shares of TaskUs from $17.00 to $15.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Bank of America raised shares of TaskUs from a “neutral” rating to a “buy” rating and set a $18.00 price objective on the stock in a report on Monday, December 9th. Morgan Stanley raised shares of TaskUs from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $18.00 to $21.00 in a research note on Friday. Finally, Robert W. Baird raised their price target on shares of TaskUs from $16.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, TaskUs has a consensus rating of “Hold” and an average target price of $17.00.

TaskUs Stock Performance

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 stock’s fifty day simple moving average is $13.99 and its 200 day simple moving average is $13.96. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 31.29, a P/E/G ratio of 4.67 and a beta of 2.31.

Institutional Investors Weigh In On TaskUs

Hedge funds and other institutional investors have recently made changes to their positions in the stock. nVerses Capital LLC purchased a new stake in TaskUs in the 2nd quarter valued at $28,000. US Bancorp DE boosted its position in shares of TaskUs by 101.2% during the 3rd quarter. US Bancorp DE now owns 5,001 shares of the company’s stock valued at $65,000 after acquiring an additional 2,516 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings 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 purchasing an additional 1,988 shares during the period. CWM LLC grew its holdings in shares of TaskUs by 25,053.3% in the third quarter. CWM LLC now owns 7,546 shares of the company’s stock valued at $97,000 after purchasing an additional 7,516 shares during the period. Finally, Quantbot Technologies LP increased its position in TaskUs by 186.7% during the third quarter. Quantbot Technologies LP now owns 9,428 shares of the company’s stock worth $122,000 after purchasing an additional 6,140 shares during the last quarter. Institutional investors and hedge funds 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.