Royal Bank of Canada Issues Positive Forecast for TaskUs (NASDAQ:TASK) Stock Price

TaskUs (NASDAQ:TASK) had its target price increased by Royal Bank of Canada from $18.00 to $20.00 in a research report report published on Thursday,Benzinga reports. The brokerage currently has a sector perform rating on the stock.

Other equities research analysts also recently issued reports about the stock. Morgan Stanley raised shares of TaskUs from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $18.00 to $21.00 in a research note on Friday, December 13th. 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 research report on Monday, December 9th. Finally, Robert W. Baird increased their price objective on shares of TaskUs from $16.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $17.25.

TaskUs Price Performance

Shares of TASK opened at $14.45 on Thursday. TaskUs has a fifty-two week low of $10.56 and a fifty-two week high of $19.60. The firm’s 50 day moving average price is $16.09 and its 200 day moving average price is $14.52. The company has a market cap of $1.29 billion, a P/E ratio of 24.49, a PEG ratio of 3.92 and a beta of 2.21. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.50.

TaskUs (NASDAQ:TASK) last announced its earnings results on Wednesday, February 26th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.12). TaskUs had a return on equity of 17.73% and a net margin of 5.58%. The business had revenue of $274.24 million for the quarter, compared to analysts’ expectations of $268.65 million. On average, research analysts forecast that TaskUs will post 0.9 earnings per share for the current fiscal year.

Insider Activity at TaskUs

In related news, COO Stephan Daoust sold 62,159 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $18.23, for a total value of $1,133,158.57. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Steven Amaya sold 75,579 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $18.11, for a total transaction of $1,368,735.69. The disclosure for this sale can be found here. Insiders have sold 140,338 shares of company stock valued at $2,548,902 in the last ninety days. Insiders own 29.26% of the company’s stock.

Institutional Trading of TaskUs

Large investors have recently bought and sold shares of the business. Blue Trust Inc. boosted its stake in TaskUs by 71.5% during the 4th quarter. Blue Trust Inc. now owns 1,677 shares of the company’s stock worth $28,000 after purchasing an additional 699 shares during the period. BNP Paribas Financial Markets acquired a new stake in TaskUs during the 4th quarter worth $80,000. KLP Kapitalforvaltning AS acquired a new stake in TaskUs during the 4th quarter worth $81,000. Point72 Asset Management L.P. acquired a new stake in TaskUs during the 4th quarter worth $83,000. Finally, US Bancorp DE boosted its stake in TaskUs by 101.2% during the 3rd quarter. US Bancorp DE now owns 5,001 shares of the company’s stock worth $65,000 after purchasing an additional 2,516 shares during the period. 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.