TaskUs, Inc. (NASDAQ:TASK) Receives $11.20 Consensus Price Target from Analysts

Shares of TaskUs, Inc. (NASDAQ:TASK) have earned an average recommendation of “Hold” from the eight research firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $11.20.

Several research analysts recently issued reports on TASK shares. Royal Bank Of Canada cut their price objective on TaskUs from $17.00 to $13.00 and set a “sector perform” rating for the company in a research report on Thursday, February 26th. Weiss Ratings downgraded TaskUs from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, April 16th. Wall Street Zen downgraded TaskUs from a “buy” rating to a “hold” rating in a report on Monday, May 11th. The Goldman Sachs Group cut their price target on TaskUs from $10.00 to $7.00 and set a “sell” rating for the company in a report on Thursday, May 7th. Finally, Morgan Stanley set a $6.00 price target on TaskUs in a report on Friday, May 8th.

TaskUs Price Performance

Shares of NASDAQ:TASK opened at $6.31 on Friday. The business’s 50 day simple moving average is $6.95 and its 200-day simple moving average is $9.72. The firm has a market capitalization of $577.87 million, a price-to-earnings ratio of 5.54 and a beta of 1.88. The company has a debt-to-equity ratio of 1.73, a current ratio of 2.75 and a quick ratio of 2.75. TaskUs has a 12 month low of $5.39 and a 12 month high of $18.39.

TaskUs (NASDAQ:TASK) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. TaskUs had a return on equity of 24.93% and a net margin of 8.70%.The business had revenue of $306.27 million for the quarter, compared to analyst estimates of $296.68 million. As a group, equities analysts forecast that TaskUs will post 1.08 earnings per share for the current fiscal year.

Insider Activity at TaskUs

In other news, insider Jarrod Johnson sold 11,406 shares of the company’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $6.89, for a total transaction of $78,587.34. Following the completion of the sale, the insider directly owned 25,130 shares in the company, valued at $173,145.70. This represents a 31.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 31.92% of the stock is currently owned by insiders.

Institutional Trading of TaskUs

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in TaskUs by 0.3% during the 2nd quarter. Geode Capital Management LLC now owns 205,442 shares of the company’s stock worth $3,444,000 after purchasing an additional 647 shares during the period. First Trust Advisors LP boosted its position in TaskUs by 1.3% in the 2nd quarter. First Trust Advisors LP now owns 54,531 shares of the company’s stock valued at $914,000 after buying an additional 716 shares during the last quarter. FNY Investment Advisers LLC boosted its position in TaskUs by 40.0% in the 4th quarter. FNY Investment Advisers LLC now owns 3,500 shares of the company’s stock valued at $41,000 after buying an additional 1,000 shares during the last quarter. Lazard Asset Management LLC boosted its position in TaskUs by 7.8% in the 2nd quarter. Lazard Asset Management LLC now owns 18,522 shares of the company’s stock valued at $308,000 after buying an additional 1,342 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in TaskUs by 4.9% in the 2nd quarter. American Century Companies Inc. now owns 43,404 shares of the company’s stock valued at $727,000 after buying an additional 2,045 shares during the last quarter. 44.64% of the stock is currently owned by institutional investors and hedge funds.

TaskUs Company Profile

TaskUs, Inc is a leading provider of outsourced digital customer experience and business process solutions, specializing in high-touch services for technology and digital-native companies. The firm delivers a range of offerings including customer care, content moderation, trust and safety monitoring, back-office processing and AI operations support. By combining technology-driven platforms with human-centric workflows, TaskUs helps clients optimize operational efficiency and maintain brand integrity across digital channels.

The company was founded in 2008 by Jaspar Weir and Bryce Maddock with the goal of reimagining traditional outsourcing through a focus on culture, technology and innovation.