Citigroup Lowers TaskUs (NASDAQ:TASK) Price Target to $14.00

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

Several other equities analysts have also recently commented on the company. Guggenheim assumed coverage on TaskUs in a report on Tuesday, March 19th. They issued a “neutral” rating and a $13.00 price target for the company. Bank of America upped their price target on TaskUs from $11.00 to $12.00 and gave the company an “underperform” rating in a report on Thursday, February 29th. Finally, Royal Bank of Canada upped their price target on TaskUs from $16.00 to $17.00 and gave the company a “sector perform” rating in a report on Thursday, February 29th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, TaskUs presently has a consensus rating of “Hold” and an average target price of $14.50.

TaskUs Price Performance

NASDAQ TASK opened at $11.15 on Monday. TaskUs has a twelve month low of $7.95 and a twelve month high of $14.67. The company has a debt-to-equity ratio of 0.58, a quick ratio of 3.23 and a current ratio of 3.23. The stock has a market capitalization of $988.67 million, a PE ratio of 23.72, a P/E/G ratio of 3.15 and a beta of 2.35. The stock has a 50-day simple moving average of $11.94 and a 200 day simple moving average of $11.82.

TaskUs (NASDAQ:TASK) last posted its quarterly earnings data 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. TaskUs had a return on equity of 16.91% and a net margin of 4.94%. The business had revenue of $234.26 million during the quarter, compared to analysts’ expectations of $225.96 million. Research analysts anticipate that TaskUs will post 0.75 EPS for the current year.

Institutional Investors Weigh In On TaskUs

Large investors have recently bought and sold shares of the business. Quarry LP grew its position in TaskUs by 326.6% during the 4th quarter. Quarry LP now owns 4,321 shares of the company’s stock worth $56,000 after acquiring an additional 3,308 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in TaskUs during the 4th quarter worth approximately $64,000. Transatlantique Private Wealth LLC bought a new stake in TaskUs during the 3rd quarter worth approximately $107,000. Olympiad Research LP bought a new stake in TaskUs during the 4th quarter worth approximately $185,000. Finally, Paradigm Capital Management Inc. NY bought a new stake in TaskUs during the 3rd quarter worth approximately $208,000. 44.64% of the stock is currently owned by institutional investors.

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.