TaskUs (NASDAQ:TASK) Shares Up 3.3%

TaskUs, Inc. (NASDAQ:TASK) shares shot up 3.3% on Wednesday . The stock traded as high as $11.14 and last traded at $11.02. 76,960 shares were traded during mid-day trading, a decline of 64% from the average session volume of 212,283 shares. The stock had previously closed at $10.67.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TASK. Bank of America increased their target price on shares of TaskUs from $11.00 to $12.00 and gave the company an “underperform” rating in a research note on Thursday, February 29th. Citigroup raised their price target on shares of TaskUs from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Guggenheim assumed coverage on shares of TaskUs in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $13.00 price target on the stock. Finally, Royal Bank of Canada raised their price target on shares of TaskUs from $16.00 to $17.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $14.63.

TaskUs Trading Up 4.0 %

The company has a debt-to-equity ratio of 0.58, a quick ratio of 3.23 and a current ratio of 3.23. The company’s fifty day simple moving average is $12.06 and its 200-day simple moving average is $11.76. The company has a market capitalization of $984.24 million, a P/E ratio of 22.70, a PEG ratio of 2.99 and a beta of 2.35.

TaskUs (NASDAQ:TASK) last issued its earnings results on Wednesday, February 28th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.05. TaskUs had a net margin of 4.94% and a return on equity of 16.91%. The company had revenue of $234.26 million for the quarter, compared to analysts’ expectations of $225.96 million. Research analysts predict that TaskUs, Inc. will post 0.75 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in TaskUs during the 4th quarter worth about $2,362,000. Janney Montgomery Scott LLC bought a new stake in shares of TaskUs in the 3rd quarter valued at about $847,000. Bank of New York Mellon Corp boosted its holdings in shares of TaskUs by 3.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 57,793 shares of the company’s stock valued at $600,000 after buying an additional 1,848 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in TaskUs by 4.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,664,253 shares of the company’s stock worth $17,275,000 after purchasing an additional 74,512 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY acquired a new stake in TaskUs in the 3rd quarter worth approximately $208,000. 44.64% of the stock is currently owned by institutional investors.

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.