TaskUs (NASDAQ:TASK) Shares Gap Down to $13.50

TaskUs, Inc. (NASDAQ:TASK) shares gapped down prior to trading on Friday . The stock had previously closed at $13.50, but opened at $13.18. TaskUs shares last traded at $13.39, with a volume of 7,743 shares traded.

Analyst Ratings Changes

A number of analysts have recently commented on TASK shares. Bank of America raised TaskUs from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $12.00 to $18.00 in a research note on Monday, July 22nd. Royal Bank of Canada boosted their price objective on TaskUs from $17.00 to $18.00 and gave the stock a “sector perform” rating in a research note on Friday, August 9th. The Goldman Sachs Group started coverage on TaskUs in a research note on Monday, June 24th. They issued a “sell” rating and a $12.00 price objective on the stock. Citigroup boosted their price objective on TaskUs from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, Robert W. Baird boosted their price objective on TaskUs from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Thursday, July 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $15.13.

TaskUs Stock Down 1.5 %

The business has a 50-day moving average price of $14.69 and a 200-day moving average price of $13.38. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 26.08, a price-to-earnings-growth ratio of 3.75 and a beta of 2.33. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 0.54.

TaskUs (NASDAQ:TASK) last announced its earnings results on Thursday, August 8th. The company reported $0.20 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.20. The company had revenue of $237.93 million for the quarter, compared to analyst estimates of $231.15 million. TaskUs had a return on equity of 16.93% and a net margin of 5.44%. As a group, equities analysts anticipate that TaskUs, Inc. will post 0.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Dalton Investments Inc. grew its holdings in shares of TaskUs by 2.5% during the second quarter. Dalton Investments Inc. now owns 636,458 shares of the company’s stock valued at $8,471,000 after buying an additional 15,300 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of TaskUs by 19.7% during the second quarter. Hsbc Holdings PLC now owns 16,885 shares of the company’s stock valued at $225,000 after buying an additional 2,779 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of TaskUs by 12.8% during the second quarter. Renaissance Technologies LLC now owns 440,523 shares of the company’s stock valued at $5,863,000 after buying an additional 50,000 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of TaskUs by 15.2% during the second quarter. Dimensional Fund Advisors LP now owns 392,504 shares of the company’s stock valued at $5,224,000 after buying an additional 51,935 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of TaskUs by 11.4% during the second quarter. American Century Companies Inc. now owns 27,976 shares of the company’s stock valued at $372,000 after buying an additional 2,863 shares in the last quarter. Hedge funds and other 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.