TaskUs (NASDAQ:TASK) Shares Down 5.4%

Shares of TaskUs, Inc. (NASDAQ:TASK) were down 5.4% during trading on Wednesday . The stock traded as low as $12.16 and last traded at $12.20. Approximately 91,377 shares traded hands during trading, a decline of 58% from the average daily volume of 219,664 shares. The stock had previously closed at $12.89.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on TASK shares. JPMorgan Chase & Co. decreased their target price on TaskUs from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Robert W. Baird raised their price target on TaskUs from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Thursday, July 11th. Royal Bank of Canada raised their price target on TaskUs from $17.00 to $18.00 and gave the stock a “sector perform” rating in a research report on Friday, August 9th. The Goldman Sachs Group initiated coverage on TaskUs in a research report on Monday, June 24th. They issued a “sell” rating and a $12.00 target price on the stock. Finally, Citigroup raised their price target on TaskUs from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $15.38.

TaskUs Price Performance

The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 0.54. The company has a 50 day moving average price of $13.83 and a 200 day moving average price of $13.41. The company has a market capitalization of $1.09 billion, a P/E ratio of 25.28, a P/E/G ratio of 3.27 and a beta of 2.29.

TaskUs (NASDAQ:TASK) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.20 earnings per share for the quarter, hitting the consensus estimate of $0.20. The business had revenue of $237.93 million during the quarter, compared to analysts’ expectations of $231.15 million. TaskUs had a return on equity of 16.93% and a net margin of 5.44%. On average, equities analysts predict that TaskUs, Inc. will post 0.84 EPS for the current fiscal year.

Hedge Funds Weigh In On TaskUs

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lord Abbett & CO. LLC raised its holdings in shares of TaskUs by 26.5% during the 1st quarter. Lord Abbett & CO. LLC now owns 744,222 shares of the company’s stock worth $8,670,000 after buying an additional 155,751 shares in the last quarter. Dalton Investments Inc. grew its position in shares of TaskUs by 2.5% in the 2nd quarter. Dalton Investments Inc. now owns 636,458 shares of the company’s stock valued at $8,471,000 after buying an additional 15,300 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of TaskUs by 12.8% in the 2nd quarter. Renaissance Technologies LLC now owns 440,523 shares of the company’s stock valued at $5,863,000 after buying an additional 50,000 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of TaskUs by 15.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 392,504 shares of the company’s stock valued at $5,224,000 after purchasing an additional 51,935 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of TaskUs by 145.3% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 120,920 shares of the company’s stock valued at $1,409,000 after purchasing an additional 71,621 shares in the last quarter. 44.64% of the stock is 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.