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

TaskUs (NASDAQ:TASK) had its price objective lifted by stock analysts at Royal Bank of Canada from $18.00 to $20.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 33.74% from the stock’s current price.

TASK has been the subject of several other research reports. Morgan Stanley upgraded TaskUs from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $18.00 to $21.00 in a report on Friday, December 13th. Robert W. Baird lifted their price objective on TaskUs from $16.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, Bank of America upgraded 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $17.25.

TaskUs Stock Performance

Shares of TASK traded down $0.69 during trading hours on Thursday, reaching $14.95. 820,067 shares of the company’s stock traded hands, compared to its average volume of 346,746. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 24.96, a P/E/G ratio of 3.92 and a beta of 2.21. The business’s fifty day simple moving average is $16.13 and its two-hundred day simple moving average is $14.52. TaskUs has a twelve month low of $10.56 and a twelve month high of $19.60. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.02 and a quick ratio of 3.02.

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

Insider Transactions at TaskUs

In other TaskUs news, CAO Steven Amaya sold 2,600 shares of TaskUs stock in a transaction on Monday, December 16th. The shares were sold at an average price of $18.08, for a total transaction of $47,008.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction of $1,133,158.57. The disclosure for this sale can be found here. In the last quarter, insiders have sold 140,338 shares of company stock valued at $2,548,902. 29.26% of the stock is owned by corporate insiders.

Institutional Trading of TaskUs

Several hedge funds have recently modified their holdings of TASK. Think Investments LP raised its holdings in TaskUs by 14.5% in the fourth quarter. Think Investments LP now owns 2,881,513 shares of the company’s stock worth $48,813,000 after purchasing an additional 364,608 shares during the period. Ameriprise Financial Inc. lifted its holdings in TaskUs by 7.9% during the fourth quarter. Ameriprise Financial Inc. now owns 957,653 shares of the company’s stock worth $16,223,000 after acquiring an additional 69,704 shares in the last quarter. Royce & Associates LP grew its stake in TaskUs by 10.9% in the fourth quarter. Royce & Associates LP now owns 742,679 shares of the company’s stock valued at $12,581,000 after acquiring an additional 73,100 shares during the period. Renaissance Technologies LLC grew its stake in TaskUs by 7.0% in the fourth quarter. Renaissance Technologies LLC now owns 497,623 shares of the company’s stock valued at $8,430,000 after acquiring an additional 32,500 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of TaskUs by 5.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 471,011 shares of the company’s stock valued at $7,979,000 after purchasing an additional 23,713 shares in 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.