TaskUs (NASDAQ:TASK) Lowered to “Neutral” Rating by Robert W. Baird

TaskUs (NASDAQ:TASK) was downgraded by equities researchers at Robert W. Baird from an “outperform” rating to a “neutral” rating in a note issued to investors on Monday,Briefing.com Automated Import reports. They currently have a $16.50 price target on the stock. Robert W. Baird’s price objective indicates a potential downside of 2.08% from the stock’s previous close.

Separately, Royal Bank of Canada raised their price objective on shares of TaskUs from $18.00 to $20.00 and gave the company a “sector perform” rating in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, TaskUs presently has a consensus rating of “Hold” and a consensus target price of $17.36.

TaskUs Stock Up 17.2%

TaskUs stock opened at $16.85 on Monday. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.02 and a quick ratio of 3.02. TaskUs has a fifty-two week low of $10.57 and a fifty-two week high of $19.60. The firm has a fifty day moving average price of $13.37 and a two-hundred day moving average price of $14.76. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 28.56, a P/E/G ratio of 3.92 and a beta of 2.16.

TaskUs (NASDAQ:TASK) last announced its quarterly earnings data on Monday, May 12th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.03). The company had revenue of $277.79 million for the quarter, compared to analyst estimates of $271.06 million. TaskUs had a net margin of 5.58% and a return on equity of 17.73%. As a group, analysts forecast that TaskUs will post 0.9 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Jarrod Johnson sold 21,437 shares of the company’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $13.60, for a total transaction of $291,543.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 30.63% of the stock is owned by company insiders.

Institutional Investors Weigh In On TaskUs

Institutional investors have recently made changes to their positions in the company. Blue Trust Inc. grew its holdings in TaskUs by 71.5% during the fourth quarter. Blue Trust Inc. now owns 1,677 shares of the company’s stock valued at $28,000 after purchasing an additional 699 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in TaskUs during the 1st quarter valued at $63,000. BNP Paribas Financial Markets bought a new position in TaskUs during the 4th quarter valued at about $80,000. KLP Kapitalforvaltning AS purchased a new stake in shares of TaskUs in the fourth quarter worth approximately $81,000. Finally, Point72 Asset Management L.P. purchased a new position in TaskUs in the 4th quarter worth about $83,000. Hedge funds and other institutional investors own 44.64% of the company’s stock.

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.