TaskUs (NASDAQ:TASK) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of TaskUs (NASDAQ:TASK) from a hold rating to a buy rating in a research note published on Saturday morning,Wall Street Zen reports.

A number of other equities research analysts also recently weighed in on TASK. Morgan Stanley lifted their target price on TaskUs from $6.00 to $7.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 11th. Wedbush decreased their price target on shares of 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 price target on shares of TaskUs in a research report on Thursday, August 6th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of TaskUs in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $9.60.

TaskUs Trading Down 0.2%

Shares of TASK stock opened at $8.12 on Friday. TaskUs has a 12-month low of $4.47 and a 12-month high of $18.08. The company has a market capitalization of $744.52 million, a PE ratio of 7.00 and a beta of 1.75. The firm has a 50 day moving average price of $7.13 and a two-hundred day moving average price of $6.97. The company has a quick ratio of 2.95, a current ratio of 2.95 and a debt-to-equity ratio of 1.56.

TaskUs (NASDAQ:TASK) last posted its earnings results on Wednesday, August 5th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.28 by $0.05. The company 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%. As a group, analysts predict that TaskUs will post 1.12 earnings per share for the current year.

Institutional Trading of TaskUs

Institutional investors have recently modified their holdings of the stock. Saba Capital Management L.P. acquired a new position in TaskUs in the first quarter valued at about $14,016,000. Dimensional Fund Advisors LP grew its stake in TaskUs by 12.8% during the first quarter. Dimensional Fund Advisors LP now owns 678,859 shares of the company’s stock worth $4,554,000 after buying an additional 77,072 shares in the last quarter. Irenic Capital Management LP acquired a new stake in TaskUs during the fourth quarter worth about $11,253,000. Dalton Investments Inc. bought a new position in TaskUs in the 4th quarter valued at about $11,174,000. Finally, Bank of America Corp DE increased its holdings 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 buying an additional 102,492 shares during the period. 44.64% of the stock is currently owned by institutional investors.

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.