Robert W. Baird Raises TaskUs (NASDAQ:TASK) Price Target to $20.00

TaskUs (NASDAQ:TASK) had its price target increased by research analysts at Robert W. Baird from $16.00 to $20.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s target price indicates a potential upside of 5.60% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. JPMorgan Chase & Co. reduced their target price on TaskUs from $17.00 to $15.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Citigroup upped their price objective on TaskUs from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Royal Bank of Canada increased their price objective on TaskUs from $17.00 to $18.00 and gave the company a “sector perform” rating in a research note on Friday, August 9th. Finally, Bank of America raised shares of TaskUs from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $12.00 to $18.00 in a research note on Monday, July 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $16.43.

TaskUs Price Performance

TaskUs stock opened at $18.94 on Friday. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 0.54. The firm’s 50-day simple moving average is $12.70 and its 200 day simple moving average is $13.65. TaskUs has a 52 week low of $10.56 and a 52 week high of $19.60. The firm has a market capitalization of $1.68 billion, a PE ratio of 32.10, a P/E/G ratio of 4.99 and a beta of 2.28.

TaskUs (NASDAQ:TASK) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.20. TaskUs had a net margin of 5.58% and a return on equity of 18.10%. The company had revenue of $237.93 million for the quarter, compared to the consensus estimate of $231.15 million. On average, equities research analysts predict that TaskUs will post 0.87 EPS for the current fiscal year.

Institutional Trading of TaskUs

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lord Abbett & CO. LLC boosted its position in shares of TaskUs by 26.5% in the first quarter. Lord Abbett & CO. LLC now owns 744,222 shares of the company’s stock worth $8,670,000 after acquiring an additional 155,751 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake 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 buying an additional 71,621 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of TaskUs by 53.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 107,950 shares of the company’s stock valued at $1,258,000 after buying an additional 37,505 shares during the period. LSV Asset Management acquired a new stake in shares of TaskUs during the 2nd quarter worth $990,000. Finally, Dimensional Fund Advisors LP raised its position in shares of TaskUs by 15.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 392,504 shares of the company’s stock worth $5,224,000 after buying an additional 51,935 shares during the period. Hedge funds and other institutional investors own 44.64% of the company’s stock.

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.