Citigroup Trims TaskUs (NASDAQ:TASK) Target Price to $14.00

TaskUs (NASDAQ:TASK - Get Free Report) had its target price reduced by Citigroup from $16.00 to $14.00 in a research report issued on Monday, Benzinga reports. The firm currently has a "buy" rating on the stock. Citigroup's price objective would suggest a potential upside of 26.93% from the company's previous close.

Several other brokerages also recently commented on TASK. Guggenheim started coverage on TaskUs in a research report on Tuesday, March 19th. They issued a "neutral" rating and a $13.00 price objective on the stock. Bank of America lifted their price target on shares of TaskUs from $11.00 to $12.00 and gave the company an "underperform" rating in a report on Thursday, February 29th. Finally, Royal Bank of Canada increased their price target on TaskUs from $16.00 to $17.00 and gave the company a "sector perform" rating in a research note on Thursday, February 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $14.50.

TaskUs Stock Down 3.6 %

Shares of NASDAQ TASK traded down $0.41 on Monday, reaching $11.03. 256,559 shares of the company's stock traded hands, compared to its average volume of 214,161. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 0.58. The business's 50 day simple moving average is $11.96 and its two-hundred day simple moving average is $11.80. TaskUs has a 12 month low of $7.95 and a 12 month high of $14.67. The company has a market cap of $978.00 million, a price-to-earnings ratio of 23.47, a price-to-earnings-growth ratio of 3.15 and a beta of 2.35.

TaskUs (NASDAQ:TASK - Get Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.19 by $0.05. The company had revenue of $234.26 million for the quarter, compared to analysts' expectations of $225.96 million. TaskUs had a net margin of 4.94% and a return on equity of 16.91%. As a group, equities research analysts forecast that TaskUs will post 0.75 EPS for the current fiscal year.

Institutional Investors Weigh In On TaskUs

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new position in TaskUs during the 4th quarter worth $2,362,000. Janney Montgomery Scott LLC bought a new stake in shares of TaskUs in the third quarter valued at about $847,000. Bank of New York Mellon Corp lifted its stake in TaskUs by 3.3% in the third quarter. Bank of New York Mellon Corp now owns 57,793 shares of the company's stock worth $600,000 after acquiring an additional 1,848 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in TaskUs by 4.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,664,253 shares of the company's stock worth $17,275,000 after acquiring an additional 74,512 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY bought a new stake in shares of TaskUs in the 3rd quarter valued at about $208,000. Institutional investors 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.