TaskUs (NASDAQ:TASK) Shares Gap Up – Time to Buy?

TaskUs, Inc. (NASDAQ:TASK) gapped up before the market opened on Friday . The stock had previously closed at $15.97, but opened at $18.00. TaskUs shares last traded at $17.92, with a volume of 163,235 shares traded.

Analyst Ratings Changes

A number of research analysts recently commented on TASK shares. JPMorgan Chase & Co. reduced their price target on TaskUs from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Robert W. Baird increased their target price on TaskUs from $16.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Bank of America upgraded shares of TaskUs from a “neutral” rating to a “buy” rating and set a $18.00 price target for the company in a research note on Monday, December 9th. Finally, Morgan Stanley upgraded shares of TaskUs from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $18.00 to $21.00 in a research note on Friday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $17.00.

TaskUs Price Performance

The stock has a market capitalization of $1.65 billion, a P/E ratio of 31.29, a PEG ratio of 4.23 and a beta of 2.31. The company has a 50 day moving average of $13.99 and a 200-day moving average of $13.96. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.50.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Seldon Capital LP acquired a new stake in TaskUs during the third quarter worth about $5,393,000. Jacobs Levy Equity Management Inc. grew its holdings in shares of TaskUs by 47.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 263,734 shares of the company’s stock valued at $3,407,000 after purchasing an additional 84,988 shares during the last quarter. LSV Asset Management acquired a new stake in shares of TaskUs during the 2nd quarter worth approximately $990,000. Royce & Associates LP raised its position in shares of TaskUs by 8.9% during the 3rd quarter. Royce & Associates LP now owns 669,579 shares of the company’s stock worth $8,651,000 after purchasing an additional 54,770 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in shares of TaskUs by 94.2% in the 3rd quarter. SG Americas Securities LLC now owns 110,626 shares of the company’s stock worth $1,429,000 after purchasing an additional 53,672 shares during the last quarter. 44.64% of the stock is currently owned by institutional investors.

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.