TaskUs (NASDAQ:TASK) Trading Down 3.8% – What’s Next?

TaskUs, Inc. (NASDAQ:TASK)’s stock price dropped 3.8% on Monday . The stock traded as low as $17.52 and last traded at $17.76. Approximately 84,428 shares traded hands during trading, a decline of 62% from the average daily volume of 222,891 shares. The stock had previously closed at $18.46.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TASK. Bank of America raised shares of TaskUs from a “neutral” rating to a “buy” rating and set a $18.00 price target for the company in a report on Monday, December 9th. Morgan Stanley upgraded TaskUs from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $18.00 to $21.00 in a research note on Friday. Robert W. Baird upped their target price on TaskUs from $16.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. reduced their price target on shares of TaskUs from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $17.00.

TaskUs Stock Performance

The company has a market capitalization of $1.57 billion, a PE ratio of 31.29, a PEG ratio of 4.67 and a beta of 2.31. The firm has a 50-day moving average of $13.99 and a two-hundred day moving average of $13.96. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.50.

Institutional Investors Weigh In On TaskUs

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC boosted its holdings in TaskUs by 24.9% during the third quarter. Barclays PLC now owns 24,774 shares of the company’s stock worth $321,000 after buying an additional 4,945 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of TaskUs in the third quarter worth about $269,000. Jane Street Group LLC boosted its stake in shares of TaskUs by 9.9% during the 3rd quarter. Jane Street Group LLC now owns 21,761 shares of the company’s stock worth $281,000 after acquiring an additional 1,959 shares in the last quarter. Quarry LP grew its position in shares of TaskUs by 357.4% during the 3rd quarter. Quarry LP now owns 13,567 shares of the company’s stock valued at $175,000 after acquiring an additional 10,601 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of TaskUs by 47.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 263,734 shares of the company’s stock valued at $3,407,000 after purchasing an additional 84,988 shares in the last quarter. Institutional investors and hedge funds 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.