TaskUs (NASDAQ:TASK) Shares Climb 7.9% – Should You Buy?

TaskUs, Inc. (NASDAQ:TASK)’s share price shot up 7.9% on Thursday. The company traded as high as $8.50 and last traded at $8.4510. Approximately 48,821 shares changed hands during trading, a decline of 92% from the average session volume of 626,569 shares. The stock had previously closed at $7.83.

Analysts Set New Price Targets

A number of research firms recently issued reports on TASK. Weiss Ratings upgraded TaskUs from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, September 24th. Robert W. Baird set a $12.00 price objective on TaskUs in a research note on Thursday, August 6th. Wall Street Zen upgraded shares of TaskUs from a “hold” rating to a “buy” rating in a research note on Saturday, September 19th. Morgan Stanley lifted their price target on shares of TaskUs from $6.00 to $7.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 11th. Finally, Wedbush dropped their price objective on shares of TaskUs from $12.00 to $9.00 and set an “outperform” rating on the stock in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $9.60.

TaskUs Price Performance

The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.95 and a current ratio of 2.95. The stock’s 50-day moving average is $7.52 and its 200 day moving average is $6.81. The stock has a market capitalization of $764.24 million, a PE ratio of 7.18 and a beta of 1.75.

TaskUs (NASDAQ:TASK) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. TaskUs had a net margin of 8.75% and a return on equity of 27.02%. The firm had revenue of $308.86 million during the quarter, compared to analysts’ expectations of $297.58 million. As a group, equities analysts expect that TaskUs, Inc. will post 1.1 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC purchased a new stake in TaskUs in the second quarter valued at approximately $148,000. Alamar Capital Management LLC acquired a new position in shares of TaskUs in the 2nd quarter valued at $80,000. Bank of America Corp DE raised 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 valued at $714,000 after purchasing an additional 102,492 shares during the last quarter. Saba Capital Management L.P. acquired a new stake in TaskUs during the 1st quarter worth $14,016,000. Finally, Renaissance Technologies LLC acquired a new stake in TaskUs during the 1st quarter worth $242,000. Institutional investors and hedge funds own 44.64% of the company’s stock.

TaskUs Company Profile

TaskUs, Inc is a provider of outsourced digital services and customer experience solutions for companies operating in the technology, social media, gaming, retail, e-commerce, financial technology and healthcare sectors. The company helps clients manage customer interactions and other business processes through a combination of human expertise, technology and data-driven operations.

Its services include customer care, content moderation, trust and safety, fraud and risk management, back-office support, artificial intelligence operations and digital consulting.