TaskUs (NASDAQ:TASK) Stock Rating Upgraded by Bank of America

Bank of America upgraded shares of TaskUs (NASDAQ:TASK) from an underperform rating to a neutral rating in a research note published on Monday, Marketbeat Ratings reports. They currently have $18.00 price objective on the stock, up from their prior price objective of $12.00.

Several other brokerages have also issued reports on TASK. Citigroup lifted their price target on shares of TaskUs from $16.00 to $18.00 and gave the company a buy rating in a research note on Friday, July 12th. The Goldman Sachs Group began coverage on TaskUs in a research report on Monday, June 24th. They issued a sell rating and a $12.00 target price on the stock. Finally, Robert W. Baird upped their target price on TaskUs from $14.00 to $16.00 and gave the stock an outperform rating in a report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, TaskUs currently has a consensus rating of Hold and an average price target of $14.88.

TaskUs Stock Down 0.1 %

TASK stock opened at $16.68 on Monday. The business has a 50-day moving average of $14.40 and a 200-day moving average of $13.04. TaskUs has a fifty-two week low of $7.95 and a fifty-two week high of $17.36. The stock has a market capitalization of $1.47 billion, a P/E ratio of 32.71, a P/E/G ratio of 6.32 and a beta of 2.32. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.36 and a quick ratio of 3.36.

TaskUs (NASDAQ:TASK) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. TaskUs had a return on equity of 16.61% and a net margin of 5.23%. The firm had revenue of $227.47 million during the quarter, compared to the consensus estimate of $223.50 million. On average, sell-side analysts anticipate that TaskUs will post 0.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TaskUs

Several hedge funds have recently added to or reduced their stakes in TASK. Lord Abbett & CO. LLC lifted its position in TaskUs by 26.5% during the first quarter. Lord Abbett & CO. LLC now owns 744,222 shares of the company’s stock worth $8,670,000 after acquiring an additional 155,751 shares during the last quarter. SG Americas Securities LLC acquired a new position in TaskUs in the 4th quarter valued at $2,362,000. Jacobs Levy Equity Management Inc. increased its position in TaskUs by 145.3% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 120,920 shares of the company’s stock worth $1,409,000 after buying an additional 71,621 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of TaskUs by 53.2% during the first quarter. Janney Montgomery Scott LLC now owns 107,950 shares of the company’s stock worth $1,258,000 after buying an additional 37,505 shares in the last quarter. Finally, Olympiad Research LP bought a new stake in shares of TaskUs in the fourth quarter valued at about $185,000. Institutional investors and hedge funds own 44.64% of the company’s stock.

TaskUs Company Profile

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.