TaskUs, Inc. (NASDAQ:TASK) Receives Consensus Recommendation of “Hold” from Analysts

TaskUs, Inc. (NASDAQ:TASK) has received a consensus recommendation of “Hold” from the eight research firms that are covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $17.25.

Several research analysts recently issued reports on the company. Robert W. Baird increased their price objective on TaskUs from $16.50 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday. Weiss Ratings reiterated a “hold (c)” rating on shares of TaskUs in a report on Wednesday. Zacks Research raised TaskUs from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 20th. Finally, Morgan Stanley lowered TaskUs from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $21.00 to $16.50 in a research note on Tuesday, September 9th.

TaskUs Stock Performance

Shares of NASDAQ:TASK opened at $13.73 on Friday. The firm has a market cap of $1.23 billion, a PE ratio of 19.90 and a beta of 2.15. The firm’s 50 day simple moving average is $17.28 and its 200-day simple moving average is $16.15. TaskUs has a one year low of $11.26 and a one year high of $19.60. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.84 and a current ratio of 2.84.

Hedge Funds Weigh In On TaskUs

Several institutional investors have recently made changes to their positions in TASK. Qube Research & Technologies Ltd purchased a new position in shares of TaskUs during the second quarter valued at $16,325,000. Calamos Advisors LLC purchased a new position in shares of TaskUs during the second quarter valued at $8,212,000. Think Investments LP increased its stake in shares of TaskUs by 14.8% during the second quarter. Think Investments LP now owns 3,734,665 shares of the company’s stock valued at $62,593,000 after buying an additional 481,307 shares during the period. LMR Partners LLP purchased a new position in shares of TaskUs during the second quarter valued at $5,028,000. Finally, Alpine Associates Management Inc. purchased a new position in shares of TaskUs during the second quarter valued at $4,370,000. Hedge funds and other institutional investors own 44.64% of the company’s stock.

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.