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

Shares of TaskUs, Inc. (NASDAQ:TASK) have been assigned an average rating of “Hold” from the seven research firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $16.43.

Several research analysts recently weighed in on TASK shares. JPMorgan Chase & Co. reduced their price target on TaskUs from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Bank of America raised shares of TaskUs from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $12.00 to $18.00 in a report on Monday, July 22nd. Robert W. Baird increased their price target on shares of TaskUs from $16.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Citigroup raised their price target on shares of TaskUs from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Finally, Royal Bank of Canada upped their price objective on shares of TaskUs from $17.00 to $18.00 and gave the stock a “sector perform” rating in a research report on Friday, August 9th.

Hedge Funds Weigh In On TaskUs

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. nVerses Capital LLC purchased a new position in TaskUs in the 2nd quarter valued at about $28,000. US Bancorp DE raised its holdings in shares of TaskUs by 101.2% during the third quarter. US Bancorp DE now owns 5,001 shares of the company’s stock valued at $65,000 after acquiring an additional 2,516 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of TaskUs by 55.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,581 shares of the company’s stock valued at $74,000 after acquiring an additional 1,988 shares in the last quarter. CWM LLC boosted its stake in shares of TaskUs by 25,053.3% in the third quarter. CWM LLC now owns 7,546 shares of the company’s stock worth $97,000 after acquiring an additional 7,516 shares during the last quarter. Finally, Quantbot Technologies LP lifted its holdings in TaskUs by 186.7% in the 3rd quarter. Quantbot Technologies LP now owns 9,428 shares of the company’s stock valued at $122,000 after purchasing an additional 6,140 shares in the last quarter. 44.64% of the stock is owned by hedge funds and other institutional investors.

TaskUs Stock Performance

NASDAQ TASK opened at $13.76 on Tuesday. The firm has a market capitalization of $1.22 billion, a P/E ratio of 23.32, a PEG ratio of 3.90 and a beta of 2.28. The stock has a 50-day simple moving average of $12.85 and a two-hundred day simple moving average of $13.76. The company has a debt-to-equity ratio of 0.50, a quick ratio of 3.23 and a current ratio of 3.02. TaskUs has a fifty-two week low of $10.56 and a fifty-two week high of $19.60.

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.