- Class A shares of TaskUs ( NASDAQ: TASK ) have lost 5% to $17.61 in Thursday afternoon trading amidst mixed broader U.S. markets and, if the losses hold, are on track to close in the red for a fourth session in five .
- Wells Fargo research slashed its price target on TASK by $17 to $20, which represents an upside of just 7.9% to TASK's last closing price of $18.54. The firm has an equal-weight rating on the stock.
- New Braunfels, Texas-based TASK provides digital outsourcing services for companies worldwide.
- Morgan Stanley in late June had also lowered its price target on the company to $28 from $35, citing current macro uncertainty.
- Compared to Wells Fargo's equal-weight rating, the Wall Street average rating and the SA Authors rating on TASK is buy.
- However, Seeking Alpha's Quant system, which consistently beats the market , rates TASK sell , with low grades on profitability and momentum.
For further details see:
Wells Fargo cuts price target on TaskUs to $20 from $37