TaskUs (NASDAQ:TASK) Price Target Raised to $20.00 at Royal Bank of Canada

TaskUs (NASDAQ:TASK) had its price target upped by Royal Bank of Canada from $18.00 to $20.00 in a research note issued to investors on Thursday morning,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

A number of other equities analysts also recently issued reports on TASK. Robert W. Baird increased their price target on shares of TaskUs from $16.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Morgan Stanley upgraded shares of TaskUs from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $18.00 to $21.00 in a report on Friday, December 13th. Finally, Bank of America upgraded shares of TaskUs from a “neutral” rating to a “buy” rating and set a $18.00 price target for the company in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $17.25.

TaskUs Stock Down 7.6 %

TASK stock opened at $14.45 on Thursday. TaskUs has a one year low of $10.56 and a one year high of $19.60. The stock has a market capitalization of $1.29 billion, a PE ratio of 24.49, a price-to-earnings-growth ratio of 3.92 and a beta of 2.21. The company has a debt-to-equity ratio of 0.50, a quick ratio of 3.02 and a current ratio of 3.02. The company has a fifty day moving average of $16.09 and a 200-day moving average of $14.52.

TaskUs (NASDAQ:TASK) last released its earnings results on Wednesday, February 26th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.12). TaskUs had a return on equity of 17.73% and a net margin of 5.58%. The firm had revenue of $274.24 million during the quarter, compared to analyst estimates of $268.65 million. As a group, analysts expect that TaskUs will post 0.9 EPS for the current year.

Insider Buying and Selling at TaskUs

In other TaskUs news, COO Stephan Daoust sold 62,159 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $18.23, for a total transaction of $1,133,158.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Steven Amaya sold 75,579 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $18.11, for a total transaction of $1,368,735.69. The disclosure for this sale can be found here. In the last three months, insiders sold 140,338 shares of company stock worth $2,548,902. 29.26% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TaskUs

Several hedge funds have recently added to or reduced their stakes in TASK. Blue Trust Inc. grew its holdings in shares of TaskUs by 71.5% during the fourth quarter. Blue Trust Inc. now owns 1,677 shares of the company’s stock worth $28,000 after buying an additional 699 shares in the last quarter. US Bancorp DE grew its holdings in shares of TaskUs by 101.2% during the third quarter. US Bancorp DE now owns 5,001 shares of the company’s stock worth $65,000 after buying an additional 2,516 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of TaskUs during the fourth quarter worth about $80,000. KLP Kapitalforvaltning AS purchased a new stake in shares of TaskUs during the fourth quarter worth about $81,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of TaskUs during the fourth quarter worth about $83,000. 44.64% of the stock is currently owned by hedge funds and other 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.