TaskUs, Inc. (NASDAQ:TASK) Stock Rated “Hold” by Wall Street Brokerages

TaskUs, Inc. (NASDAQ:TASK) has been given a consensus recommendation of “Hold” by the eight brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $9.60.

A number of brokerages have issued reports on TASK. Robert W. Baird set a $12.00 price target on TaskUs in a report on Thursday, August 6th. Wall Street Zen downgraded TaskUs from a “buy” rating to a “hold” rating in a report on Saturday. Morgan Stanley raised their target price on TaskUs from $6.00 to $7.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 11th. Weiss Ratings upgraded TaskUs from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, September 24th. Finally, Wedbush lowered their price target on TaskUs from $12.00 to $9.00 and set an “outperform” rating for the company in a report on Thursday, August 6th.

Institutional Trading of TaskUs

Several institutional investors have recently modified their holdings of the stock. Allworth Financial LP boosted its holdings in shares of TaskUs by 9,224.0% in the 4th quarter. Allworth Financial LP now owns 2,331 shares of the company’s stock valued at $27,000 after buying an additional 2,306 shares in the last quarter. Alamar Capital Management LLC acquired a new stake in TaskUs during the 2nd quarter worth $80,000. Squarepoint Ops LLC acquired a new stake in TaskUs during the 2nd quarter worth $148,000. Renaissance Technologies LLC acquired a new stake in TaskUs during the 1st quarter worth $242,000. Finally, Watershed Asset Management L.L.C. lifted its position in TaskUs by 19.5% in the first quarter. Watershed Asset Management L.L.C. now owns 46,422 shares of the company’s stock valued at $311,000 after acquiring an additional 7,589 shares during the last quarter. Hedge funds and other institutional investors own 44.64% of the company’s stock.

TaskUs Price Performance

Shares of TASK opened at $8.06 on Friday. TaskUs has a twelve month low of $4.47 and a twelve month high of $17.54. The firm’s fifty day simple moving average is $7.63 and its 200-day simple moving average is $6.80. The firm has a market capitalization of $739.02 million, a price-to-earnings ratio of 6.95 and a beta of 1.83. The company has a current ratio of 2.95, a quick ratio of 2.95 and a debt-to-equity ratio of 1.56.

TaskUs (NASDAQ:TASK) last issued its earnings results on Wednesday, August 5th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. The firm had revenue of $308.86 million during the quarter, compared to the consensus estimate of $297.58 million. TaskUs had a net margin of 8.75% and a return on equity of 27.02%. Equities analysts forecast that TaskUs will post 1.1 EPS for the current fiscal year.

About TaskUs

TaskUs, Inc is a global provider of outsourced digital services and business-process solutions. The company helps technology, consumer, and other digitally focused businesses manage customer experience, technical support, content moderation, trust and safety, and back-office operations.

Its services also include artificial intelligence and data operations, including data annotation and model-support services, as well as risk and response solutions designed to help clients address fraud, abuse, and other online safety challenges.