TaskUs, Inc. (NASDAQ:TASK) Receives Average Rating of “Hold” from Analysts

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

TASK has been the subject of several recent research reports. Citigroup lifted their target price on shares of TaskUs from $18.00 to $19.00 and gave the company a “buy” rating in a report on Monday, August 12th. JPMorgan Chase & Co. lowered their price objective on TaskUs from $17.00 to $15.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Royal Bank of Canada upped their price target on shares of TaskUs from $17.00 to $18.00 and gave the stock a “sector perform” rating in a research note on Friday, August 9th. The Goldman Sachs Group began coverage on shares of TaskUs in a research note on Monday, June 24th. They set a “sell” rating and a $12.00 price objective for the company. Finally, Bank of America raised TaskUs from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $12.00 to $18.00 in a report on Monday, July 22nd.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Janney Montgomery Scott LLC increased its holdings in TaskUs by 53.2% during the first quarter. Janney Montgomery Scott LLC now owns 107,950 shares of the company’s stock valued at $1,258,000 after buying an additional 37,505 shares during the last quarter. Lord Abbett & CO. LLC lifted its position in TaskUs by 26.5% during the first quarter. Lord Abbett & CO. LLC now owns 744,222 shares of the company’s stock valued at $8,670,000 after purchasing an additional 155,751 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in TaskUs by 145.3% during the first 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 period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of TaskUs by 55.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,581 shares of the company’s stock valued at $74,000 after acquiring an additional 1,988 shares during the period. Finally, nVerses Capital LLC bought a new position in shares of TaskUs in the second quarter worth approximately $28,000. Institutional investors own 44.64% of the company’s stock.

TaskUs Price Performance

Shares of TASK stock opened at $12.12 on Friday. The business’s fifty day moving average is $12.87 and its 200 day moving average is $13.41. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 0.54. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 22.04, a PEG ratio of 3.33 and a beta of 2.29. TaskUs has a twelve month low of $8.25 and a twelve month high of $17.97.

TaskUs (NASDAQ:TASK) last released its earnings results on Thursday, August 8th. The company reported $0.20 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.20. TaskUs had a net margin of 5.44% and a return on equity of 16.93%. The firm had revenue of $237.93 million for the quarter, compared to the consensus estimate of $231.15 million. Research analysts expect that TaskUs will post 0.84 EPS for the current fiscal year.

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.