TaskUs (NASDAQ:TASK) Stock Rating Upgraded by Morgan Stanley

TaskUs (NASDAQ:TASK) was upgraded by stock analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report released on Friday, MarketBeat Ratings reports. The brokerage presently has a $21.00 target price on the stock, up from their prior target price of $18.00. Morgan Stanley’s price objective indicates a potential upside of 13.76% from the company’s current price.

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

TaskUs Stock Performance

Shares of TASK stock opened at $18.46 on Friday. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 0.50. TaskUs has a 12-month low of $10.56 and a 12-month high of $19.60. The company has a market cap of $1.65 billion, a price-to-earnings ratio of 31.29, a price-to-earnings-growth ratio of 4.23 and a beta of 2.31. The stock has a 50 day simple moving average of $13.99 and a 200-day simple moving average of $13.96.

Hedge Funds Weigh In On TaskUs

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. nVerses Capital LLC acquired a new position in shares of TaskUs during the 2nd quarter worth approximately $28,000. US Bancorp DE increased its position in TaskUs by 101.2% during the third quarter. US Bancorp DE now owns 5,001 shares of the company’s stock worth $65,000 after buying an additional 2,516 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of TaskUs by 55.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,581 shares of the company’s stock worth $74,000 after acquiring an additional 1,988 shares during the last quarter. CWM LLC lifted its position in shares of TaskUs by 25,053.3% in the third quarter. CWM LLC now owns 7,546 shares of the company’s stock valued at $97,000 after acquiring an additional 7,516 shares in the last quarter. Finally, Quantbot Technologies LP boosted its stake in shares of TaskUs by 186.7% during the third quarter. Quantbot Technologies LP now owns 9,428 shares of the company’s stock valued at $122,000 after acquiring an additional 6,140 shares during the last quarter. Institutional investors and hedge funds own 44.64% of the company’s stock.

About TaskUs

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.