TaskUs (NASDAQ:TASK) Shares Gap Up – Here’s What Happened

TaskUs, Inc. (NASDAQ:TASK)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $14.38, but opened at $16.32. TaskUs shares last traded at $16.49, with a volume of 2,869,690 shares traded.

Analysts Set New Price Targets

Separately, Royal Bank of Canada lifted their price objective on TaskUs from $18.00 to $20.00 and gave the company a “sector perform” rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, TaskUs currently has a consensus rating of “Hold” and an average price target of $17.86.

TaskUs Price Performance

The stock has a fifty day moving average of $13.37 and a 200-day moving average of $14.74. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $1.52 billion, a P/E ratio of 28.56, a PEG ratio of 3.92 and a beta of 2.16.

TaskUs (NASDAQ:TASK) last released its earnings results on Monday, May 12th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.03). The firm had revenue of $277.79 million during the quarter, compared to analyst estimates of $271.06 million. TaskUs had a net margin of 5.58% and a return on equity of 17.73%. Equities analysts predict that TaskUs, Inc. will post 0.9 EPS for the current fiscal year.

Insider Activity at TaskUs

In other TaskUs news, insider Jarrod Johnson sold 21,437 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $13.60, for a total value of $291,543.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 30.63% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Royce & Associates LP raised its stake in TaskUs by 6.4% during the 1st quarter. Royce & Associates LP now owns 790,289 shares of the company’s stock worth $10,772,000 after buying an additional 47,610 shares during the period. Victory Capital Management Inc. boosted its position in TaskUs by 125.6% during the 1st quarter. Victory Capital Management Inc. now owns 25,023 shares of the company’s stock worth $341,000 after acquiring an additional 13,933 shares during the last quarter. Blue Trust Inc. grew its position in TaskUs by 988.7% in the first quarter. Blue Trust Inc. now owns 18,257 shares of the company’s stock valued at $249,000 after purchasing an additional 16,580 shares in the last quarter. Ritholtz Wealth Management bought a new position in shares of TaskUs in the 1st quarter valued at about $236,000. Finally, SG Americas Securities LLC increased its position in shares of TaskUs by 85.9% during the 1st quarter. SG Americas Securities LLC now owns 651,838 shares of the company’s stock worth $8,885,000 after purchasing an additional 301,119 shares during the last quarter. Institutional investors 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.