TaskUs (NASDAQ:TASK) Issues Quarterly Earnings Results, Misses Estimates By $0.03 EPS

TaskUs (NASDAQ:TASK - Get Free Report) released its quarterly earnings data on Friday, May 9th. The company reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.03), Zacks reports. The firm had revenue of $277.79 million during the quarter, compared to analyst estimates of $271.06 million. TaskUs had a return on equity of 17.73% and a net margin of 5.58%.

TaskUs Stock Performance

Shares of NASDAQ:TASK traded down $0.12 during trading on Friday, reaching $16.60. The stock had a trading volume of 537,229 shares, compared to its average volume of 311,765. TaskUs has a 52 week low of $10.57 and a 52 week high of $19.60. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 28.14, a P/E/G ratio of 3.92 and a beta of 2.16. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.50. The stock has a fifty day simple moving average of $13.73 and a two-hundred day simple moving average of $14.89.

Analyst Ratings Changes

Several equities analysts have commented on TASK shares. Royal Bank of Canada lowered their target price on shares of TaskUs from $20.00 to $16.50 and set a "sector perform" rating on the stock in a research note on Monday, May 12th. Baird R W cut shares of TaskUs from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th. William Blair cut shares of TaskUs from a "strong-buy" rating to a "hold" rating in a report on Friday, May 9th. Finally, Robert W. Baird cut shares of TaskUs from an "outperform" rating to a "neutral" rating and set a $16.50 price target for the company. in a report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $16.86.

Insider Buying and Selling

In other TaskUs news, insider Jarrod Johnson sold 15,460 shares of TaskUs stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $13.25, for a total transaction of $204,845.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 30.63% of the stock is currently owned by insiders.

Institutional Investors Weigh In On TaskUs

A hedge fund recently raised its stake in TaskUs stock. Goldman Sachs Group Inc. grew its position in TaskUs, Inc. (NASDAQ:TASK - Free Report) by 11.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 183,889 shares of the company's stock after purchasing an additional 19,495 shares during the period. Goldman Sachs Group Inc. owned about 0.20% of TaskUs worth $2,506,000 as of its most recent filing with the SEC. 44.64% of the stock is owned by institutional investors.

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.