TaskUs (NASDAQ:TASK) Stock Rating Upgraded by Wall Street Zen

TaskUs (NASDAQ:TASK) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Several other analysts also recently weighed in on the stock. Robert W. Baird set a $12.00 price objective on shares of TaskUs in a research report on Thursday, August 6th. Wedbush dropped their target price on shares of TaskUs from $12.00 to $9.00 and set an “outperform” rating on the stock in a research report on Thursday, August 6th. Weiss Ratings raised shares of TaskUs from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, October 19th. Finally, Morgan Stanley lifted their price target on shares of TaskUs from $6.00 to $7.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $9.60.

TaskUs Price Performance

TASK stock opened at $8.56 on Friday. The business has a 50 day moving average price of $8.09 and a 200 day moving average price of $6.74. The stock has a market cap of $784.87 million, a price-to-earnings ratio of 7.38 and a beta of 1.83. TaskUs has a fifty-two week low of $4.47 and a fifty-two week high of $14.35. 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 announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. The firm had revenue of $308.86 million during the quarter, compared to the consensus estimate of $297.58 million. TaskUs had a return on equity of 27.02% and a net margin of 8.75%. Equities research analysts anticipate that TaskUs will post 1.10 earnings per share for the current fiscal year.

Institutional Trading of TaskUs

A number of large investors have recently made changes to their positions in the company. Alamar Capital Management LLC purchased a new position in TaskUs during the 2nd quarter worth approximately $80,000. Squarepoint Ops LLC acquired a new position in TaskUs during the second quarter worth approximately $148,000. Renaissance Technologies LLC purchased a new stake in TaskUs in the first quarter valued at approximately $242,000. Watershed Asset Management L.L.C. lifted its stake in TaskUs by 19.5% in the first quarter. Watershed Asset Management L.L.C. now owns 46,422 shares of the company’s stock valued at $311,000 after buying an additional 7,589 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in TaskUs by 4.2% in the first quarter. First Trust Advisors LP now owns 69,189 shares of the company’s stock valued at $464,000 after buying an additional 2,805 shares during the last quarter. 44.64% of the stock is owned by institutional investors and hedge funds.

TaskUs Company Profile

TaskUs, Inc (NASDAQ: TASK) is a provider of digital outsourcing and customer experience services for technology companies and other high-growth businesses. The company helps clients manage customer interactions, back-office operations and other business processes through a combination of trained personnel, technology and data-driven workflows.

Its services include customer care, technical support, content moderation, trust and safety, fraud prevention, artificial intelligence operations and back-office support.