Wedbush Cuts TaskUs (NASDAQ:TASK) Price Target to $14.00

TaskUs (NASDAQ:TASK) had its price objective reduced by Wedbush from $15.00 to $14.00 in a report issued on Monday,Benzinga reports. They currently have an outperform rating on the stock.

Several other analysts have also commented on the stock. Piper Sandler lowered shares of TaskUs to a “neutral” rating in a report on Friday, February 27th. Wall Street Zen downgraded TaskUs from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 7th. Morgan Stanley decreased their target price on TaskUs from $16.50 to $12.00 and set an “equal weight” rating for the company in a research report on Friday, February 27th. Finally, Royal Bank Of Canada lowered their target price on TaskUs from $17.00 to $13.00 and set a “sector perform” rating for the company in a research note on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, TaskUs has an average rating of “Hold” and a consensus target price of $14.25.

TaskUs Stock Up 1.1%

Shares of NASDAQ TASK opened at $10.48 on Monday. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 0.37. TaskUs has a 12 month low of $9.55 and a 12 month high of $18.39. The firm has a market capitalization of $949.07 million, a PE ratio of 9.44 and a beta of 2.11. The firm has a fifty day simple moving average of $10.72 and a two-hundred day simple moving average of $12.54.

TaskUs (NASDAQ:TASK) last posted its earnings results on Wednesday, February 25th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.36 by $0.04. TaskUs had a net margin of 8.64% and a return on equity of 22.52%. The firm had revenue of $312.96 million during the quarter, compared to analysts’ expectations of $303.68 million. Equities analysts expect that TaskUs will post 0.9 earnings per share for the current year.

TaskUs Dividend Announcement

The company also recently declared a dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 11th were paid a $3.65 dividend.

Institutional Trading of TaskUs

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Strategic Advocates LLC purchased a new position in TaskUs in the third quarter worth about $41,000. Allworth Financial LP grew its holdings in shares of TaskUs by 9,224.0% during the fourth quarter. Allworth Financial LP now owns 2,331 shares of the company’s stock valued at $27,000 after buying an additional 2,306 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of TaskUs during the third quarter valued at approximately $44,000. New York State Common Retirement Fund bought a new stake in shares of TaskUs during the second quarter valued at approximately $67,000. Finally, Harbor Capital Advisors Inc. raised its holdings in TaskUs by 21.9% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 4,994 shares of the company’s stock worth $89,000 after acquiring an additional 896 shares during the last quarter. 44.64% of the stock is currently owned by institutional investors.

About TaskUs

TaskUs, Inc is a leading provider of outsourced digital customer experience and business process solutions, specializing in high-touch services for technology and digital-native companies. The firm delivers a range of offerings including customer care, content moderation, trust and safety monitoring, back-office processing and AI operations support. By combining technology-driven platforms with human-centric workflows, TaskUs helps clients optimize operational efficiency and maintain brand integrity across digital channels.

The company was founded in 2008 by Jaspar Weir and Bryce Maddock with the goal of reimagining traditional outsourcing through a focus on culture, technology and innovation.