TaskUs (NASDAQ:TASK) Downgraded by Baird R W to Hold

TaskUs (NASDAQ:TASK - Get Free Report) was downgraded by research analysts at Baird R W from a "strong-buy" rating to a "hold" rating in a note issued to investors on Monday,Zacks.com reports.

Other analysts also recently issued research reports about the stock. Robert W. Baird downgraded shares of TaskUs from an "outperform" rating to a "neutral" rating and set a $16.50 price target for the company. in a research report on Monday. Royal Bank of Canada reduced their target price on shares of TaskUs from $20.00 to $16.50 and set a "sector perform" rating for the company in a research note on Monday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, TaskUs currently has an average rating of "Hold" and an average target price of $16.86.

TaskUs Trading Up 0.2%

Shares of TaskUs stock opened at $16.88 on Monday. The company has a fifty day simple moving average of $13.44 and a 200-day simple moving average of $14.80. TaskUs has a 12-month low of $10.57 and a 12-month high of $19.60. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 0.50. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 28.61, a PEG ratio of 3.92 and a beta of 2.16.

TaskUs (NASDAQ:TASK - Get Free Report) last issued its earnings results 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 analyst estimates of $271.06 million. On average, equities analysts forecast that TaskUs will post 0.9 EPS for the current fiscal year.

Insider Transactions at TaskUs

In other news, insider Jarrod Johnson sold 21,437 shares of TaskUs stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $13.60, for a total transaction of $291,543.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 30.63% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. acquired a new position in shares of TaskUs during the third quarter worth $1,006,000. Janney Montgomery Scott LLC acquired a new position in shares of TaskUs during the fourth quarter worth $613,000. Raymond James Financial Inc. acquired a new position in shares of TaskUs during the fourth quarter worth $408,000. Vontobel Holding Ltd. acquired a new position in shares of TaskUs during the fourth quarter worth $338,000. Finally, Nkcfo LLC acquired a new position in shares of TaskUs during the fourth quarter worth $339,000. 44.64% of the stock is 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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