TaskUs (NASDAQ:TASK) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen cut shares of TaskUs (NASDAQ:TASK) from a buy rating to a hold rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

TASK has been the subject of a number of other research reports. Robert W. Baird set a $12.00 price objective on TaskUs in a research report on Thursday, August 6th. Wedbush dropped their target price on TaskUs from $12.00 to $9.00 and set an “outperform” rating on the stock in a report on Thursday, August 6th. Morgan Stanley increased their target price on TaskUs from $6.00 to $7.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 11th. Finally, Weiss Ratings upgraded TaskUs from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $9.60.

TaskUs Stock Down 2.4%

NASDAQ:TASK opened at $8.06 on Friday. The firm’s 50-day moving average price is $7.63 and its 200-day moving average price is $6.80. The company has a market capitalization of $739.02 million, a PE ratio of 6.95 and a beta of 1.83. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.95 and a quick ratio of 2.95. TaskUs has a 1-year low of $4.47 and a 1-year high of $17.54.

TaskUs (NASDAQ:TASK) last issued 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. TaskUs had a net margin of 8.75% and a return on equity of 27.02%. The company had revenue of $308.86 million during the quarter, compared to analysts’ expectations of $297.58 million. On average, equities analysts predict that TaskUs will post 1.1 EPS for the current fiscal year.

Hedge Funds Weigh In On TaskUs

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Saba Capital Management L.P. bought a new stake in shares of TaskUs in the 1st quarter worth $14,016,000. Irenic Capital Management LP purchased a new stake in shares of TaskUs during the fourth quarter valued at $11,253,000. Dalton Investments Inc. purchased a new stake in shares of TaskUs during the fourth quarter valued at $11,174,000. Dimensional Fund Advisors LP increased its holdings in TaskUs by 12.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 678,859 shares of the company’s stock worth $4,554,000 after buying an additional 77,072 shares in the last quarter. Finally, Athos Capital Ltd increased its holdings in TaskUs by 67.0% in the 4th quarter. Athos Capital Ltd now owns 240,760 shares of the company’s stock worth $2,839,000 after buying an additional 96,581 shares in the last quarter. 44.64% of the stock is owned by institutional investors.

TaskUs Company Profile

TaskUs, Inc is a global provider of outsourced digital services and business-process solutions. The company helps technology, consumer, and other digitally focused businesses manage customer experience, technical support, content moderation, trust and safety, and back-office operations.

Its services also include artificial intelligence and data operations, including data annotation and model-support services, as well as risk and response solutions designed to help clients address fraud, abuse, and other online safety challenges.