TaskUs, Inc. (NASDAQ:TASK) Receives Average Recommendation of “Hold” from Brokerages

Shares of TaskUs, Inc. (NASDAQ:TASK) have earned an average rating of “Hold” from the seven ratings firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $17.86.

A number of equities research analysts have weighed in on TASK shares. Morgan Stanley upgraded TaskUs from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $18.00 to $21.00 in a research report on Friday, December 13th. Royal Bank of Canada upped their target price on TaskUs from $18.00 to $20.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 27th. Finally, Bank of America upgraded TaskUs from a “neutral” rating to a “buy” rating and set a $18.00 target price for the company in a research report on Monday, December 9th.

Insider Buying and Selling at TaskUs

In other TaskUs news, insider Jarrod Johnson sold 21,437 shares of the business’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $13.60, for a total transaction of $291,543.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 29.26% of the stock is owned by corporate insiders.

Institutional Trading of TaskUs

Several large investors have recently added to or reduced their stakes in the company. Think Investments LP raised its stake in TaskUs by 14.5% during the 4th quarter. Think Investments LP now owns 2,881,513 shares of the company’s stock valued at $48,813,000 after purchasing an additional 364,608 shares during the period. Ameriprise Financial Inc. raised its stake in TaskUs by 7.9% during the 4th quarter. Ameriprise Financial Inc. now owns 957,653 shares of the company’s stock valued at $16,223,000 after purchasing an additional 69,704 shares during the period. Royce & Associates LP raised its stake in TaskUs by 10.9% during the 4th quarter. Royce & Associates LP now owns 742,679 shares of the company’s stock valued at $12,581,000 after purchasing an additional 73,100 shares during the period. Renaissance Technologies LLC raised its stake in TaskUs by 7.0% during the 4th quarter. Renaissance Technologies LLC now owns 497,623 shares of the company’s stock valued at $8,430,000 after purchasing an additional 32,500 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in TaskUs by 5.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 471,011 shares of the company’s stock valued at $7,979,000 after purchasing an additional 23,713 shares during the period. 44.64% of the stock is owned by institutional investors and hedge funds.

TaskUs Stock Performance

Shares of NASDAQ TASK opened at $13.38 on Monday. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 0.50. The stock has a 50 day simple moving average of $15.13 and a 200-day simple moving average of $14.49. The company has a market cap of $1.20 billion, a PE ratio of 22.68, a P/E/G ratio of 3.92 and a beta of 2.24. TaskUs has a 12-month low of $10.56 and a 12-month high of $19.60.

TaskUs (NASDAQ:TASK) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.12). The business had revenue of $274.24 million for the quarter, compared to analyst estimates of $268.65 million. TaskUs had a return on equity of 17.73% and a net margin of 5.58%. On average, equities research analysts forecast that TaskUs will post 0.9 EPS for the current year.

About TaskUs

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.