Royal Bank of Canada Cuts TaskUs (NASDAQ:TASK) Price Target to $16.50

TaskUs (NASDAQ:TASK) had its price objective decreased by equities research analysts at Royal Bank of Canada from $20.00 to $16.50 in a research report issued on Monday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential downside of 1.61% from the company’s previous close.

Separately, Robert W. Baird lowered TaskUs from an “outperform” rating to a “neutral” rating and set a $16.50 price target on the stock. in a report on Monday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $16.86.

TaskUs Stock Down 0.7%

TaskUs stock opened at $16.77 on Monday. The company has a 50 day moving average of $13.52 and a 200-day moving average of $14.81. 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 has a twelve month low of $10.57 and a twelve month high of $19.60. The stock has a market capitalization of $1.51 billion, a PE ratio of 28.42, a price-to-earnings-growth ratio of 3.92 and a beta of 2.16.

TaskUs (NASDAQ:TASK) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.12). The company had revenue of $274.24 million during the quarter, compared to the consensus estimate of $268.65 million. TaskUs had a net margin of 5.58% and a return on equity of 17.73%. On average, equities research analysts anticipate that TaskUs will post 0.9 EPS for the current fiscal year.

Insider Activity at TaskUs

In related news, insider Jarrod Johnson sold 21,437 shares of the company’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $13.60, for a total transaction 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 owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. raised its stake in shares of 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 in the last quarter. Lazard Asset Management LLC grew its stake in shares of TaskUs by 9.6% in the fourth quarter. Lazard Asset Management LLC now owns 9,972 shares of the company’s stock valued at $167,000 after buying an additional 873 shares in the last quarter. PDT Partners LLC increased its holdings in TaskUs by 6.8% during the fourth quarter. PDT Partners LLC now owns 45,189 shares of the company’s stock worth $766,000 after buying an additional 2,893 shares during the last quarter. American Century Companies Inc. raised its position in TaskUs by 11.6% during the fourth quarter. American Century Companies Inc. now owns 36,888 shares of the company’s stock worth $625,000 after acquiring an additional 3,841 shares in the last quarter. Finally, Harbor Capital Advisors Inc. bought a new stake in TaskUs during the first quarter worth $63,000. 44.64% of the stock is currently owned by 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.