TaskUs, Inc. (NASDAQ:TASK) Short Interest Update

TaskUs, Inc. (NASDAQ:TASK) was the recipient of a significant growth in short interest in February. As of February 28th, there was short interest totalling 1,890,000 shares, a growth of 18.9% from the February 13th total of 1,590,000 shares. Based on an average daily volume of 348,000 shares, the days-to-cover ratio is currently 5.4 days. Approximately 10.6% of the company’s shares are sold short.

TaskUs Price Performance

Shares of TASK opened at $13.70 on Thursday. TaskUs has a 52-week low of $10.56 and a 52-week high of $19.60. The company has a debt-to-equity ratio of 0.50, a quick ratio of 3.02 and a current ratio of 3.02. The business’s 50 day moving average price is $15.20 and its two-hundred day moving average price is $14.49. The firm has a market cap of $1.23 billion, a PE ratio of 23.22, a price-to-earnings-growth ratio of 3.92 and a beta of 2.24.

TaskUs (NASDAQ:TASK) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.12). TaskUs had a net margin of 5.58% and a return on equity of 17.73%. The business had revenue of $274.24 million during the quarter, compared to analyst estimates of $268.65 million. On average, equities analysts anticipate that TaskUs will post 0.9 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Morgan Stanley upgraded TaskUs from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $18.00 to $21.00 in a report on Friday, December 13th. Bank of America upgraded TaskUs from a “neutral” rating to a “buy” rating and set a $18.00 target price on the stock in a report on Monday, December 9th. Finally, Royal Bank of Canada upped their target price on TaskUs from $18.00 to $20.00 and gave the company a “sector perform” rating in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $17.86.

Insider Activity

In other news, insider Jarrod Johnson sold 15,460 shares of TaskUs stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $13.25, for a total transaction of $204,845.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 29.26% of the company’s stock.

Hedge Funds Weigh In On TaskUs

Institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its stake in TaskUs by 71.5% in the fourth quarter. Blue Trust Inc. now owns 1,677 shares of the company’s stock valued at $28,000 after buying an additional 699 shares during the period. US Bancorp DE raised its position in shares of TaskUs by 101.2% during the third quarter. US Bancorp DE now owns 5,001 shares of the company’s stock worth $65,000 after purchasing an additional 2,516 shares during the period. BNP Paribas Financial Markets acquired a new position in shares of TaskUs during the fourth quarter worth approximately $80,000. KLP Kapitalforvaltning AS acquired a new position in shares of TaskUs during the fourth quarter worth approximately $81,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of TaskUs during the fourth quarter worth approximately $83,000. 44.64% of the stock is owned by institutional investors and hedge funds.

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.