TaskUs (NASDAQ:TASK) Lowered to Buy Rating by Wall Street Zen

Wall Street Zen downgraded shares of TaskUs (NASDAQ:TASK) from a strong-buy rating to a buy rating in a research note published on Saturday.

A number of other equities research analysts also recently issued reports on the company. Royal Bank Of Canada lowered their price objective on TaskUs from $17.00 to $13.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 26th. The Goldman Sachs Group raised shares of TaskUs to a “strong sell” rating in a research note on Monday, November 10th. Morgan Stanley dropped their target price on shares of TaskUs from $16.50 to $12.00 and set an “equal weight” rating for the company in a research report on Friday, February 27th. Zacks Research lowered shares of TaskUs from a “strong-buy” rating to a “hold” rating in a report on Friday, November 7th. Finally, Wedbush assumed coverage on shares of TaskUs in a research report on Tuesday, February 3rd. They set an “outperform” rating and a $15.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, TaskUs presently has an average rating of “Hold” and a consensus target price of $14.50.

TaskUs Trading Down 4.2%

NASDAQ:TASK opened at $10.92 on Friday. The company has a market cap of $987.39 million, a P/E ratio of 9.84 and a beta of 2.11. The stock’s fifty day moving average price is $11.02 and its two-hundred day moving average price is $13.18. TaskUs has a 1 year low of $9.55 and a 1 year high of $18.39. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.89 and a quick ratio of 2.89.

TaskUs (NASDAQ:TASK) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.04. TaskUs had a return on equity of 23.10% and a net margin of 8.64%.The company had revenue of $312.96 million during the quarter, compared to analysts’ expectations of $303.68 million. As a group, analysts expect that TaskUs will post 0.9 EPS for the current year.

TaskUs Announces Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 11th will be paid a dividend of $3.65 per share. The ex-dividend date of this dividend is Thursday, March 26th.

Institutional Investors Weigh In On TaskUs

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. grew its position in TaskUs by 11.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 183,889 shares of the company’s stock worth $2,506,000 after acquiring an additional 19,495 shares during the last quarter. Credit Industriel ET Commercial bought a new stake in TaskUs in the second quarter valued at approximately $1,447,000. Geode Capital Management LLC boosted its stake in shares of TaskUs by 0.3% during the second quarter. Geode Capital Management LLC now owns 205,442 shares of the company’s stock valued at $3,444,000 after purchasing an additional 647 shares during the period. Calamos Advisors LLC purchased a new stake in shares of TaskUs during the second quarter valued at approximately $8,212,000. Finally, Swiss National Bank grew its holdings in shares of TaskUs by 6.1% in the second quarter. Swiss National Bank now owns 34,700 shares of the company’s stock worth $582,000 after purchasing an additional 2,000 shares during the last quarter. Institutional investors own 44.64% of the company’s stock.

TaskUs Company Profile

TaskUs, Inc is a leading provider of outsourced digital customer experience and business process solutions, specializing in high-touch services for technology and digital-native companies. The firm delivers a range of offerings including customer care, content moderation, trust and safety monitoring, back-office processing and AI operations support. By combining technology-driven platforms with human-centric workflows, TaskUs helps clients optimize operational efficiency and maintain brand integrity across digital channels.

The company was founded in 2008 by Jaspar Weir and Bryce Maddock with the goal of reimagining traditional outsourcing through a focus on culture, technology and innovation.