TaskUs, Inc. (NASDAQ:TASK) Receives Consensus Recommendation of “Buy” from Analysts

Shares of TaskUs, Inc. (NASDAQ:TASK) have been given an average recommendation of “Buy” by the ten brokerages that are presently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $47.86.

Several analysts recently issued reports on TASK shares. Wells Fargo & Company started coverage on TaskUs in a report on Tuesday, July 6th. They issued an “overweight” rating and a $35.00 price target for the company. BTIG Research assumed coverage on TaskUs in a research note on Thursday, July 8th. They set a “buy” rating and a $45.00 target price for the company. JPMorgan Chase & Co. raised their target price on TaskUs from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Tuesday, August 17th. Royal Bank of Canada assumed coverage on TaskUs in a research note on Tuesday, July 6th. They set an “outperform” rating and a $43.00 target price for the company. Finally, Zacks Investment Research upgraded TaskUs from a “sell” rating to a “hold” rating in a research note on Wednesday.

Shares of TASK opened at $64.95 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.24 and a current ratio of 1.24. The business has a fifty day moving average price of $58.24. TaskUs has a twelve month low of $26.66 and a twelve month high of $85.49.

TaskUs (NASDAQ:TASK) last issued its earnings results on Tuesday, August 10th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). The company had revenue of $180.02 million during the quarter, compared to analyst estimates of $161.96 million. During the same quarter in the prior year, the business earned $0.18 earnings per share. The company’s revenue for the quarter was up 57.4% on a year-over-year basis. Equities research analysts expect that TaskUs will post 1.19 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Blackstone Inc bought a new position in TaskUs in the second quarter worth about $221,829,000. FMR LLC bought a new position in TaskUs in the second quarter worth about $77,964,000. Massachusetts Financial Services Co. MA bought a new position in TaskUs in the second quarter worth about $34,529,000. American Century Companies Inc. bought a new stake in shares of TaskUs during the second quarter valued at approximately $32,439,000. Finally, Vanguard Group Inc. bought a new stake in shares of TaskUs during the second quarter valued at approximately $30,760,000. 19.97% of the stock is currently owned by hedge funds and other institutional investors.

TaskUs Company Profile

TaskUs, Inc provides outsourcing services to Internet companies worldwide. It offers digital customer experience that consists of omni-channel customer care services primarily delivered through digital channels; and other solutions, including customer care services for new product or market launches, trust and safety solutions, and customer acquisition solutions.

Featured Story: Does a trade war provide a risk to the global economy?

Analyst Recommendations for TaskUs (NASDAQ:TASK)

Receive News & Ratings for TaskUs Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TaskUs and related companies with MarketBeat.com's FREE daily email newsletter.