Royal Bank of Canada Lowers TaskUs (NASDAQ:TASK) Price Target to $16.50

TaskUs (NASDAQ:TASK - Get Free Report) had its price objective cut by investment analysts at Royal Bank of Canada from $20.00 to $16.50 in a report issued on Monday,Benzinga reports. The brokerage presently has a "sector perform" rating on the stock. Royal Bank of Canada's price target indicates a potential downside of 1.46% from the stock's previous close.

Separately, Robert W. Baird downgraded TaskUs from an "outperform" rating to a "neutral" rating and set a $16.50 target price on the stock. in a research report on Monday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, TaskUs has an average rating of "Hold" and a consensus price target of $16.86.

TaskUs Price Performance

Shares of NASDAQ:TASK traded down $0.11 on Monday, hitting $16.75. The company had a trading volume of 941,753 shares, compared to its average volume of 300,109. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 0.50. TaskUs has a 52-week low of $10.57 and a 52-week high of $19.60. The business has a 50 day moving average of $13.37 and a 200 day moving average of $14.76. The company has a market cap of $1.51 billion, a PE ratio of 28.36, a PEG ratio of 3.92 and a beta of 2.16.

TaskUs (NASDAQ:TASK - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.03). TaskUs had a net margin of 5.58% and a return on equity of 17.73%. The company had revenue of $277.79 million during the quarter, compared to analysts' expectations of $271.06 million. As a group, equities analysts anticipate that TaskUs will post 0.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other TaskUs news, insider Jarrod Johnson sold 21,437 shares of the company's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $13.60, for a total transaction of $291,543.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 30.63% of the stock is currently owned by insiders.

Institutional Investors Weigh In On TaskUs

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. grew its stake in shares of TaskUs by 71.5% in the fourth quarter. Blue Trust Inc. now owns 1,677 shares of the company's stock valued at $28,000 after buying an additional 699 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of TaskUs in the first quarter valued at about $63,000. BNP Paribas Financial Markets acquired a new stake in shares of TaskUs in the fourth quarter valued at about $80,000. KLP Kapitalforvaltning AS acquired a new stake in shares of TaskUs in the fourth quarter valued at about $81,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of TaskUs in the fourth quarter valued at about $83,000. 44.64% of the stock is currently owned by institutional investors and hedge funds.

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.

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