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

Shares of TaskUs, Inc. (NASDAQ:TASK) have been given an average recommendation of “Hold” by the seven ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $14.63.

Several equities research analysts have recently commented on the stock. Royal Bank of Canada upped their price target on shares of TaskUs from $16.00 to $17.00 and gave the company a “sector perform” rating in a research report on Thursday, February 29th. Bank of America upped their price target on shares of TaskUs from $11.00 to $12.00 and gave the company an “underperform” rating in a research report on Thursday, February 29th. Guggenheim assumed coverage on shares of TaskUs in a research report on Tuesday, March 19th. They set a “neutral” rating and a $13.00 price target for the company. Finally, Citigroup upped their price target on shares of TaskUs from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th.

Institutional Trading of TaskUs

Hedge funds have recently modified their holdings of the company. Advisors Asset Management Inc. purchased a new stake in TaskUs during the 1st quarter valued at $42,000. Canada Pension Plan Investment Board purchased a new stake in TaskUs during the 1st quarter valued at $108,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in TaskUs during the 2nd quarter valued at $61,000. Lazard Asset Management LLC raised its holdings in TaskUs by 60.0% during the 1st quarter. Lazard Asset Management LLC now owns 4,000 shares of the company’s stock valued at $153,000 after buying an additional 1,500 shares during the period. Finally, Quarry LP raised its holdings in TaskUs by 326.6% during the 4th quarter. Quarry LP now owns 4,321 shares of the company’s stock valued at $56,000 after buying an additional 3,308 shares during the period. 44.64% of the stock is owned by hedge funds and other institutional investors.

TaskUs Price Performance

Shares of NASDAQ:TASK opened at $11.65 on Monday. TaskUs has a fifty-two week low of $7.95 and a fifty-two week high of $15.15. The business has a 50-day simple moving average of $12.49 and a two-hundred day simple moving average of $11.63. The company has a debt-to-equity ratio of 0.58, a quick ratio of 3.23 and a current ratio of 3.23. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 24.79, a price-to-earnings-growth ratio of 3.21 and a beta of 2.40.

TaskUs (NASDAQ:TASK) last issued its earnings results on Wednesday, February 28th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. TaskUs had a return on equity of 16.91% and a net margin of 4.94%. The business had revenue of $234.26 million during the quarter, compared to analyst estimates of $225.96 million. On average, analysts expect that TaskUs will post 0.75 earnings per share 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.