Wedbush Issues Pessimistic Forecast for TaskUs (NASDAQ:TASK) Stock Price

Key Points

• Wedbush lowered its price target on TaskUs from $15 to $14 but maintained an outperform rating, a target that implies roughly a 29% upside from the prior close.
• Several other brokers (including RBC, Morgan Stanley and Piper Sandler) have trimmed targets or ratings, leaving the consensus at a Hold with an average price target of about $14.25.
• TaskUs is trading near $10.85 with a market cap of roughly $982 million and a P/E around 9.8, and it recently beat quarterly EPS and revenue estimates.

TaskUs (NASDAQ:TASK - Get Free Report) had its price target dropped by investment analysts at Wedbush from $15.00 to $14.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Wedbush's price target suggests a potential upside of 29.09% from the stock's previous close.

Several other research firms also recently commented on TASK. Wall Street Zen downgraded shares of TaskUs from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 7th. Piper Sandler cut shares of TaskUs to a "neutral" rating in a research report on Friday, February 27th. Royal Bank Of Canada dropped their target price on shares of TaskUs from $17.00 to $13.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 26th. Finally, Morgan Stanley reduced their target price on shares of TaskUs from $16.50 to $12.00 and set an "equal weight" rating on the stock in a research report on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $14.25.

TaskUs Trading Up 4.5%

Shares of TASK stock traded up $0.47 on Monday, reaching $10.85. 159,471 shares of the company's stock were exchanged, compared to its average volume of 522,015. The company's fifty day simple moving average is $10.77 and its 200 day simple moving average is $12.66. TaskUs has a 52 week low of $9.55 and a 52 week high of $18.39. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $982.12 million, a PE ratio of 9.77 and a beta of 2.11.

TaskUs (NASDAQ:TASK - Get Free Report) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.36 by $0.04. TaskUs had a return on equity of 22.52% and a net margin of 8.64%.The company had revenue of $312.96 million for the quarter, compared to the consensus estimate of $303.68 million. As a group, analysts forecast that TaskUs will post 0.9 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in TaskUs by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 205,442 shares of the company's stock worth $3,444,000 after purchasing an additional 647 shares in the last quarter. First Trust Advisors LP increased its stake in TaskUs by 1.3% during the 2nd quarter. First Trust Advisors LP now owns 54,531 shares of the company's stock valued at $914,000 after purchasing an additional 716 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in TaskUs by 21.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 4,994 shares of the company's stock valued at $89,000 after purchasing an additional 896 shares in the last quarter. FNY Investment Advisers LLC raised its holdings in shares of TaskUs by 40.0% in the fourth quarter. FNY Investment Advisers LLC now owns 3,500 shares of the company's stock worth $41,000 after buying an additional 1,000 shares during the last quarter. Finally, Lazard Asset Management LLC raised its holdings in shares of TaskUs by 7.8% in the second quarter. Lazard Asset Management LLC now owns 18,522 shares of the company's stock worth $308,000 after buying an additional 1,342 shares during the last quarter. 44.64% of the stock is owned by institutional investors.

TaskUs Company Profile

TaskUs, Inc is a leading provider of outsourced digital customer experience and business process solutions, specializing in high-touch services for technology and digital-native companies. The firm delivers a range of offerings including customer care, content moderation, trust and safety monitoring, back-office processing and AI operations support. By combining technology-driven platforms with human-centric workflows, TaskUs helps clients optimize operational efficiency and maintain brand integrity across digital channels.

The company was founded in 2008 by Jaspar Weir and Bryce Maddock with the goal of reimagining traditional outsourcing through a focus on culture, technology and innovation.

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