TaskUs (NASDAQ:TASK) Stock Rating Lowered by Robert W. Baird

TaskUs (NASDAQ:TASK) was downgraded by stock analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a note issued to investors on Monday, MarketBeat reports. They currently have a $16.50 price target on the stock. Robert W. Baird’s price objective indicates a potential downside of 1.61% from the stock’s previous close.

Separately, Royal Bank of Canada upped their price objective on shares of TaskUs from $18.00 to $20.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $16.86.

TaskUs Price Performance

Shares of TASK stock opened at $16.77 on Monday. The business has a fifty day simple moving average of $13.52 and a 200 day simple moving average of $14.81. The company has a market cap of $1.51 billion, a P/E ratio of 28.42, 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. TaskUs has a twelve month low of $10.57 and a twelve month high of $19.60.

TaskUs (NASDAQ:TASK) last issued 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). The business had revenue of $274.24 million for the quarter, compared to analyst estimates of $268.65 million. TaskUs had a return on equity of 17.73% and a net margin of 5.58%. On average, sell-side analysts forecast that TaskUs will post 0.9 EPS for the current fiscal year.

Insider Activity

In other news, insider Jarrod Johnson sold 21,437 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $13.60, for a total value of $291,543.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 30.63% of the company’s stock.

Institutional Investors Weigh In On TaskUs

Hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. grew its holdings in TaskUs by 71.5% during the 4th quarter. Blue Trust Inc. now owns 1,677 shares of the company’s stock worth $28,000 after acquiring an additional 699 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of TaskUs during the first quarter worth $63,000. BNP Paribas Financial Markets bought a new stake in shares of TaskUs in the fourth quarter worth $80,000. KLP Kapitalforvaltning AS bought a new stake in shares of TaskUs in the fourth quarter worth $81,000. Finally, Point72 Asset Management L.P. acquired a new stake in TaskUs in the fourth quarter valued at $83,000. 44.64% of the stock is currently 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.