TaskUs (NASDAQ:TASK) Shares Down 6.5% – Time to Sell?

TaskUs, Inc. (NASDAQ:TASK) shares were down 6.5% on Thursday . The stock traded as low as $7.53 and last traded at $7.8650. Approximately 543,327 shares traded hands during trading, a decline of 14% from the average session volume of 630,103 shares. The stock had previously closed at $8.41.

Analysts Set New Price Targets

A number of analysts have recently commented on TASK shares. Weiss Ratings restated a “sell (d+)” rating on shares of TaskUs in a research note on Tuesday, July 14th. Wedbush lowered their price objective on TaskUs from $12.00 to $9.00 and set an “outperform” rating on the stock in a research report on Thursday, August 6th. Morgan Stanley lifted their price objective on shares of TaskUs from $6.00 to $7.00 and gave the company an “equal weight” rating in a report on Tuesday, August 11th. Wall Street Zen raised shares of TaskUs from a “hold” rating to a “buy” rating in a research note on Saturday, September 19th. Finally, Robert W. Baird set a $12.00 target price on TaskUs in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $9.60.

TaskUs Stock Down 4.9%

The stock has a market capitalization of $733.04 million, a price-to-earnings ratio of 6.89 and a beta of 1.75. The business’s 50-day moving average is $7.30 and its two-hundred day moving average is $6.89. The company has a quick ratio of 2.95, a current ratio of 2.95 and a debt-to-equity ratio of 1.56.

TaskUs (NASDAQ:TASK) last released its earnings results on Wednesday, August 5th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. TaskUs had a net margin of 8.75% and a return on equity of 27.02%. The business had revenue of $308.86 million for the quarter, compared to analyst estimates of $297.58 million. Equities analysts anticipate that TaskUs, Inc. will post 1.1 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TASK. Squarepoint Ops LLC purchased a new stake in shares of TaskUs in the 2nd quarter valued at approximately $148,000. Alamar Capital Management LLC purchased a new position in shares of TaskUs during the 2nd quarter worth $80,000. Bank of America Corp DE increased its position in shares of TaskUs by 2,573.2% during the 1st quarter. Bank of America Corp DE now owns 106,475 shares of the company’s stock worth $714,000 after purchasing an additional 102,492 shares during the last quarter. Saba Capital Management L.P. acquired a new stake in shares of TaskUs during the 1st quarter worth about $14,016,000. Finally, Renaissance Technologies LLC purchased a new stake in TaskUs in the 1st quarter valued at about $242,000. Hedge funds and other institutional investors own 44.64% of the company’s stock.

TaskUs Company Profile

TaskUs, Inc is a provider of outsourced digital services and customer experience solutions for companies operating in the technology, social media, gaming, retail, e-commerce, financial technology and healthcare sectors. The company helps clients manage customer interactions and other business processes through a combination of human expertise, technology and data-driven operations.

Its services include customer care, content moderation, trust and safety, fraud and risk management, back-office support, artificial intelligence operations and digital consulting.