TaskUs, Inc. (NASDAQ:TASK) Stock Has Consensus Target Price of $9.60 According to Brokerages

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

Several equities research analysts have issued reports on the stock. Weiss Ratings raised shares of TaskUs from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday. Wall Street Zen upgraded TaskUs from a “hold” rating to a “buy” rating in a report on Saturday, September 19th. Robert W. Baird set a $12.00 price objective on TaskUs in a research note on Thursday, August 6th. Morgan Stanley increased their target price on shares of TaskUs from $6.00 to $7.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 11th. Finally, Wedbush cut their target price 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.

Hedge Funds Weigh In On TaskUs

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Allworth Financial LP increased its holdings in TaskUs by 9,224.0% during the fourth 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 during the period. First Trust Advisors LP lifted its holdings in TaskUs by 4.2% during the first quarter. First Trust Advisors LP now owns 69,189 shares of the company’s stock worth $464,000 after buying an additional 2,805 shares during the period. Watershed Asset Management L.L.C. lifted its holdings in TaskUs by 19.5% during the first quarter. Watershed Asset Management L.L.C. now owns 46,422 shares of the company’s stock worth $311,000 after buying an additional 7,589 shares during the period. Alamar Capital Management LLC purchased a new stake in TaskUs during the second quarter worth $80,000. Finally, Fifth Lane Capital LP bought a new stake in TaskUs during the 4th quarter valued at $359,000. 44.64% of the stock is currently owned by institutional investors.

TaskUs Stock Up 2.8%

NASDAQ:TASK opened at $8.20 on Friday. The company has a market cap of $751.86 million, a price-to-earnings ratio of 7.07 and a beta of 1.75. TaskUs has a twelve month low of $4.47 and a twelve month high of $17.94. The company has a current ratio of 2.95, a quick ratio of 2.95 and a debt-to-equity ratio of 1.56. The stock has a fifty day simple moving average of $7.38 and a 200-day simple moving average of $6.88.

TaskUs (NASDAQ:TASK) last posted its quarterly 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 for the quarter, compared to analysts’ expectations of $297.58 million. TaskUs had a net margin of 8.75% and a return on equity of 27.02%. Analysts anticipate that TaskUs will post 1.1 EPS for the current year.

About TaskUs

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.