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

Shares of TaskUs, Inc. (NASDAQ:TASK) have received a consensus rating of “Hold” from the eight analysts that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $17.00.

A number of research firms have weighed in on TASK. Bank of America raised shares of TaskUs from a “neutral” rating to a “buy” rating and set a $18.00 target price for the company in a research report on Monday, December 9th. Robert W. Baird increased their price objective on shares of TaskUs from $16.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Morgan Stanley upgraded shares of TaskUs from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $18.00 to $21.00 in a report on Friday, December 13th.

Insider Activity

In other TaskUs news, CAO Steven Amaya sold 75,579 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $18.11, for a total value of $1,368,735.69. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Stephan Daoust sold 62,159 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $18.23, for a total transaction of $1,133,158.57. The disclosure for this sale can be found here. Insiders sold a total of 140,338 shares of company stock valued at $2,548,902 over the last three months. Corporate insiders own 29.26% of the company’s stock.

Hedge Funds Weigh In On TaskUs

Several institutional investors have recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. raised its stake in shares of TaskUs by 47.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 263,734 shares of the company’s stock valued at $3,407,000 after buying an additional 84,988 shares during the period. Royce & Associates LP raised its stake in TaskUs by 8.9% in the 3rd quarter. Royce & Associates LP now owns 669,579 shares of the company’s stock valued at $8,651,000 after acquiring an additional 54,770 shares during the period. Seldon Capital LP purchased a new stake in TaskUs during the third quarter valued at about $5,393,000. JPMorgan Chase & Co. bought a new position in TaskUs during the third quarter worth about $1,006,000. Finally, Janney Montgomery Scott LLC purchased a new position in shares of TaskUs in the fourth quarter worth about $613,000. Hedge funds and other institutional investors own 44.64% of the company’s stock.

TaskUs Stock Performance

Shares of NASDAQ:TASK opened at $15.00 on Thursday. TaskUs has a 1 year low of $10.56 and a 1 year high of $19.60. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of 25.42, a price-to-earnings-growth ratio of 4.26 and a beta of 2.21. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.02 and a quick ratio of 3.02. The company’s 50 day simple moving average is $16.34 and its 200 day simple moving average is $14.53.

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.