TaskUs (NASDAQ:TASK) Given New $14.00 Price Target at Citigroup

TaskUs (NASDAQ:TASK) had its price objective decreased by analysts at Citigroup from $16.00 to $14.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 25.56% from the stock’s previous close.

TASK has been the subject of several other reports. Bank of America lifted their price objective on shares of TaskUs from $11.00 to $12.00 and gave the company an “underperform” rating in a research note on Thursday, February 29th. Guggenheim initiated coverage on shares of TaskUs in a research note on Tuesday, March 19th. They set a “neutral” rating and a $13.00 price objective for the company. Finally, Royal Bank of Canada lifted their price objective on shares of TaskUs from $16.00 to $17.00 and gave the company a “sector perform” rating in a research note on Thursday, February 29th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $14.50.

TaskUs Stock Up 1.1 %

NASDAQ:TASK opened at $11.15 on Monday. The company has a market cap of $988.67 million, a PE ratio of 23.72, a P/E/G ratio of 3.15 and a beta of 2.35. TaskUs has a twelve month low of $7.95 and a twelve month high of $14.67. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 0.58. The company’s 50 day moving average is $11.94 and its two-hundred day moving average is $11.82.

TaskUs (NASDAQ:TASK) last released its earnings results on Wednesday, February 28th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.05. The company had revenue of $234.26 million for the quarter, compared to the consensus estimate of $225.96 million. TaskUs had a net margin of 4.94% and a return on equity of 16.91%. Analysts anticipate that TaskUs will post 0.75 EPS for the current year.

Hedge Funds Weigh In On TaskUs

Several large investors have recently made changes to their positions in TASK. SG Americas Securities LLC purchased a new stake in TaskUs in the 4th quarter worth $2,362,000. Janney Montgomery Scott LLC purchased a new stake in TaskUs in the 3rd quarter worth $847,000. Bank of New York Mellon Corp increased its holdings in TaskUs by 3.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 57,793 shares of the company’s stock worth $600,000 after acquiring an additional 1,848 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in TaskUs by 4.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,664,253 shares of the company’s stock worth $17,275,000 after acquiring an additional 74,512 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY purchased a new stake in TaskUs in the 3rd quarter worth $208,000. 44.64% of the stock is currently owned by institutional investors and hedge funds.

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.