TaskUs, Inc. (NASDAQ:TASK) Given Average Rating of “Hold” by Brokerages

TaskUs, Inc. (NASDAQ:TASK) has been given a consensus rating of “Hold” by the eight brokerages that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $15.38.

TASK has been the subject of several research reports. JPMorgan Chase & Co. dropped their price target on TaskUs from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Bank of America raised shares of TaskUs from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $12.00 to $18.00 in a research note on Monday, July 22nd. Citigroup upped their price objective on shares of TaskUs from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, August 12th. The Goldman Sachs Group began coverage on shares of TaskUs in a research note on Monday, June 24th. They issued a “sell” rating and a $12.00 target price on the stock. Finally, Robert W. Baird upped their price target on TaskUs from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Thursday, July 11th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Lord Abbett & CO. LLC boosted its stake in TaskUs by 26.5% during the first quarter. Lord Abbett & CO. LLC now owns 744,222 shares of the company’s stock worth $8,670,000 after buying an additional 155,751 shares during the period. LSV Asset Management purchased a new position in shares of TaskUs during the 2nd quarter worth approximately $990,000. Jacobs Levy Equity Management Inc. increased its holdings in TaskUs by 145.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 120,920 shares of the company’s stock valued at $1,409,000 after purchasing an additional 71,621 shares during the last quarter. Dimensional Fund Advisors LP raised its position in TaskUs by 15.2% in the second quarter. Dimensional Fund Advisors LP now owns 392,504 shares of the company’s stock valued at $5,224,000 after purchasing an additional 51,935 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in TaskUs by 12.8% during the second quarter. Renaissance Technologies LLC now owns 440,523 shares of the company’s stock worth $5,863,000 after purchasing an additional 50,000 shares in the last quarter. 44.64% of the stock is currently owned by hedge funds and other institutional investors.

TaskUs Price Performance

TaskUs stock opened at $12.63 on Monday. The stock has a market capitalization of $1.11 billion, a P/E ratio of 24.76, a P/E/G ratio of 3.49 and a beta of 2.29. The company’s fifty day moving average price is $14.36 and its 200 day moving average price is $13.40. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.23 and a current ratio of 3.23. TaskUs has a 1 year low of $7.95 and a 1 year high of $17.97.

TaskUs (NASDAQ:TASK) last announced its earnings results on Thursday, August 8th. The company reported $0.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.20. TaskUs had a net margin of 5.44% and a return on equity of 16.93%. The business had revenue of $237.93 million for the quarter, compared to analyst estimates of $231.15 million. As a group, equities research analysts anticipate that TaskUs will post 0.84 earnings per share for the current fiscal year.

TaskUs Company Profile

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.