TaskUs (NASDAQ:TASK) Upgraded to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded TaskUs to “Buy” from “Hold.” However, the broader analyst consensus remains “Hold,” with five Hold, one Buy, and one Sell rating and an average price target of $9.60.
• TaskUs reported quarterly EPS of $0.33, beating the $0.28 consensus estimate, while revenue of $308.86 million exceeded expectations of $297.58 million.
• TASK shares opened at $8.56, with a market capitalization of approximately $784.9 million; institutional investors and hedge funds own 44.64% of the company.

TaskUs (NASDAQ:TASK - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday, Wall Street Zen reports.

A number of other equities analysts also recently commented on the stock. Robert W. Baird set a $12.00 price objective on shares of TaskUs in a research report on Thursday, August 6th. Wedbush lowered their target price on shares of TaskUs from $12.00 to $9.00 and set an "outperform" rating on the stock in a report on Thursday, August 6th. Weiss Ratings upgraded shares of TaskUs from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday. Finally, Morgan Stanley boosted their price target on shares of TaskUs from $6.00 to $7.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 11th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $9.60.

TaskUs Price Performance

TASK stock opened at $8.56 on Friday. The business has a fifty day moving average of $8.09 and a two-hundred day moving average of $6.74. The company has a quick ratio of 2.95, a current ratio of 2.95 and a debt-to-equity ratio of 1.56. The stock has a market cap of $784.87 million, a price-to-earnings ratio of 7.38 and a beta of 1.83. TaskUs has a 52-week low of $4.47 and a 52-week high of $14.35.

TaskUs (NASDAQ:TASK - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.05. TaskUs had a net margin of 8.75% and a return on equity of 27.02%. The business had revenue of $308.86 million for the quarter, compared to the consensus estimate of $297.58 million. As a group, research analysts anticipate that TaskUs will post 1.10 earnings per share for the current year.

Institutional Trading of TaskUs

Institutional investors and hedge funds have recently made changes to their positions in the company. Saba Capital Management L.P. acquired a new position in TaskUs in the first quarter valued at $14,016,000. Dimensional Fund Advisors LP increased 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 acquiring an additional 77,072 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of TaskUs by 2,573.2% in the 1st quarter. Bank of America Corp DE now owns 106,475 shares of the company's stock worth $714,000 after purchasing an additional 102,492 shares during the period. Inspire Investing LLC grew its holdings in shares of TaskUs by 93.1% during the 1st quarter. Inspire Investing LLC now owns 77,208 shares of the company's stock worth $518,000 after purchasing an additional 37,218 shares during the period. Finally, First Trust Advisors LP grew its holdings in shares of TaskUs by 4.2% during the 1st quarter. First Trust Advisors LP now owns 69,189 shares of the company's stock worth $464,000 after purchasing an additional 2,805 shares during the period. 44.64% of the stock is currently owned by institutional investors and hedge funds.

About TaskUs

TaskUs, Inc NASDAQ: TASK is a provider of digital outsourcing and customer experience services for technology companies and other high-growth businesses. The company helps clients manage customer interactions, back-office operations and other business processes through a combination of trained personnel, technology and data-driven workflows.

Its services include customer care, technical support, content moderation, trust and safety, fraud prevention, artificial intelligence operations and back-office support.

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