TaskUs, Inc. (TASK) – What Are Analysts Saying About This Stock?

TaskUs, Inc. (NASDAQ:TASK) has been assigned a consensus recommendation of “Hold” from the seven analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $9.60.

Several brokerages recently weighed in on TASK. Wall Street Zen lowered shares of TaskUs from a “buy” rating to a “hold” rating in a research report on Saturday, October 3rd. Robert W. Baird set a $12.00 target price on shares of TaskUs in a research note on Thursday, August 6th. Weiss Ratings raised shares of TaskUs from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday. Wedbush dropped their price target on shares of TaskUs from $12.00 to $9.00 and set an “outperform” rating on the stock in a research note on Thursday, August 6th. Finally, Morgan Stanley raised their price target on shares of TaskUs from $6.00 to $7.00 and gave the company an “equal weight” rating in a report on Tuesday, August 11th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Saba Capital Management L.P. acquired a new stake in TaskUs in the 1st quarter valued at approximately $14,016,000. Bank of America Corp DE increased its position in TaskUs by 2,573.2% in the 1st quarter. Bank of America Corp DE now owns 106,475 shares of the company’s stock worth $714,000 after buying an additional 102,492 shares during the period. Dimensional Fund Advisors LP increased its position in TaskUs by 12.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 678,859 shares of the company’s stock worth $4,554,000 after buying an additional 77,072 shares during the period. Inspire Investing LLC lifted its holdings in shares of TaskUs by 93.1% during the first quarter. Inspire Investing LLC now owns 77,208 shares of the company’s stock worth $518,000 after buying an additional 37,218 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of TaskUs during the first quarter worth approximately $242,000. Institutional investors and hedge funds own 44.64% of the company’s stock.

TaskUs Stock Up 2.4%

TASK stock opened at $8.42 on Wednesday. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.95 and a quick ratio of 2.95. The firm has a market capitalization of $772.03 million, a P/E ratio of 7.26 and a beta of 1.83. TaskUs has a 52-week low of $4.47 and a 52-week high of $14.35. The company’s 50 day simple moving average is $8.01 and its 200-day simple moving average is $6.71.

TaskUs (NASDAQ:TASK) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 27.02% and a net margin of 8.75%. As a group, equities research analysts anticipate that TaskUs will post 1.10 EPS for the current 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.