TaskUs (NASDAQ:TASK) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of TaskUs (NASDAQ:TASK) from a buy rating to a hold rating in a report issued on Saturday,Wall Street Zen reports.

TASK has been the topic of several other reports. Wedbush reduced their price target on TaskUs from $12.00 to $9.00 and set an “outperform” rating on the stock in a research note on Thursday, August 6th. Robert W. Baird set a $12.00 target price on shares of TaskUs in a research report on Thursday, August 6th. Morgan Stanley lifted their price target on shares of TaskUs from $6.00 to $7.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 11th. Finally, Weiss Ratings raised shares of TaskUs from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, TaskUs currently has a consensus rating of “Hold” and a consensus price target of $9.60.

TaskUs Stock Performance

Shares of TASK opened at $8.08 on Friday. The company has a 50-day simple moving average of $7.67 and a two-hundred day simple moving average of $6.76. 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 $740.86 million, a PE ratio of 6.97 and a beta of 1.83. TaskUs has a one year low of $4.47 and a one year high of $17.41.

TaskUs (NASDAQ:TASK) last posted its earnings results on Wednesday, August 5th. The company reported $0.33 earnings per share 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 the consensus estimate of $297.58 million. TaskUs had a return on equity of 27.02% and a net margin of 8.75%. On average, analysts anticipate that TaskUs will post 1.1 EPS for the current fiscal year.

Hedge Funds Weigh In On TaskUs

A number of hedge funds have recently bought and sold shares of TASK. Squarepoint Ops LLC purchased a new position in TaskUs in the second quarter worth about $148,000. Alamar Capital Management LLC bought a new stake in shares of TaskUs in the 2nd quarter worth $80,000. Bank of America Corp DE raised its stake in shares of TaskUs by 2,573.2% in the first quarter. Bank of America Corp DE now owns 106,475 shares of the company’s stock worth $714,000 after purchasing an additional 102,492 shares during the last quarter. Saba Capital Management L.P. purchased a new position in shares of TaskUs in the first quarter worth $14,016,000. Finally, Renaissance Technologies LLC bought a new position in shares of TaskUs during the first quarter valued at $242,000. Institutional investors own 44.64% of the company’s stock.

TaskUs Company Profile

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.