TaskUs (NASDAQ:TASK) Shares Gap Down to $13.49

Shares of TaskUs, Inc. (NASDAQ:TASK) gapped down prior to trading on Monday . The stock had previously closed at $13.49, but opened at $12.93. TaskUs shares last traded at $13.18, with a volume of 15,207 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Royal Bank of Canada increased their price objective on TaskUs from $16.00 to $17.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 29th. Guggenheim initiated coverage on shares of TaskUs in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $13.00 price objective on the stock. Bank of America increased their price target on shares of TaskUs from $11.00 to $12.00 and gave the stock an “underperform” rating in a report on Thursday, February 29th. Citigroup lowered their price objective on TaskUs from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Finally, The Goldman Sachs Group began coverage on TaskUs in a research report on Monday. They set a “sell” rating and a $12.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, TaskUs presently has an average rating of “Hold” and a consensus price target of $13.13.

TaskUs Stock Performance

The stock’s fifty day simple moving average is $13.19 and its 200-day simple moving average is $12.66. The company has a quick ratio of 3.36, a current ratio of 3.36 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $1.18 billion, a PE ratio of 26.28, a PEG ratio of 4.98 and a beta of 2.36.

TaskUs (NASDAQ:TASK) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.02. The firm had revenue of $227.47 million during the quarter, compared to the consensus estimate of $223.50 million. TaskUs had a return on equity of 16.61% and a net margin of 5.23%. On average, research analysts predict that TaskUs, Inc. will post 0.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP grew its stake in TaskUs by 326.6% in the 4th quarter. Quarry LP now owns 4,321 shares of the company’s stock valued at $56,000 after acquiring an additional 3,308 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of TaskUs in the fourth quarter valued at approximately $64,000. Olympiad Research LP acquired a new stake in shares of TaskUs in the fourth quarter valued at approximately $185,000. Aigen Investment Management LP purchased a new position in shares of TaskUs during the 3rd quarter worth approximately $246,000. Finally, Janney Montgomery Scott LLC raised its position in shares of TaskUs by 53.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 107,950 shares of the company’s stock worth $1,258,000 after purchasing an additional 37,505 shares during the last quarter. Institutional investors and hedge funds own 44.64% of the company’s stock.

About TaskUs

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.