TaskUs, Inc. (NASDAQ:TASK) Receives Consensus Rating of "Hold" from Analysts

Key Points

• TaskUs has a consensus “Hold” rating from eight analysts, with five holds, one sell, one buy and one strong buy. The average 12-month price target is $9.60, compared with the stock’s reported price of $8.20.
• Recent analyst views were mixed: Wedbush cut its target to $9 while maintaining an outperform rating, Morgan Stanley raised its target to $7 with an equal-weight rating, and other firms issued targets as high as $12.
• TaskUs exceeded quarterly expectations, reporting adjusted earnings of $0.33 per share versus the $0.28 consensus and revenue of $308.86 million versus $297.58 million expected. Institutional investors own 44.64% of the company.

Shares of TaskUs, Inc. (NASDAQ:TASK - Get Free Report) have been given a consensus recommendation of "Hold" by the eight ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $9.60.

Several brokerages have weighed in on TASK. Wedbush reduced their price objective on TaskUs from $12.00 to $9.00 and set an "outperform" rating on the stock in a research note on Thursday, August 6th. Morgan Stanley lifted their target price on TaskUs from $6.00 to $7.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 11th. Robert W. Baird set a $12.00 target price on TaskUs in a research report on Thursday, August 6th. Wall Street Zen upgraded TaskUs from a "hold" rating to a "buy" rating in a report on Saturday, September 19th. Finally, Weiss Ratings upgraded TaskUs from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday.

Institutional Investors Weigh In On TaskUs

Several institutional investors have recently made changes to their positions in the company. Allworth Financial LP boosted its stake in shares of TaskUs by 9,224.0% during the 4th quarter. Allworth Financial LP now owns 2,331 shares of the company's stock worth $27,000 after purchasing an additional 2,306 shares during the period. First Trust Advisors LP boosted its position in shares of TaskUs by 4.2% during the first quarter. First Trust Advisors LP now owns 69,189 shares of the company's stock valued at $464,000 after buying an additional 2,805 shares during the period. Watershed Asset Management L.L.C. boosted its position in shares of TaskUs by 19.5% during the first quarter. Watershed Asset Management L.L.C. now owns 46,422 shares of the company's stock valued at $311,000 after buying an additional 7,589 shares during the period. Alamar Capital Management LLC bought a new position in shares of TaskUs during the second quarter valued at approximately $80,000. Finally, Fifth Lane Capital LP bought a new position in shares of TaskUs during the fourth quarter valued at approximately $359,000. Institutional investors own 44.64% of the company's stock.

TaskUs Price Performance

TASK stock opened at $8.20 on Friday. TaskUs has a 52 week low of $4.47 and a 52 week high of $17.94. The firm has a market capitalization of $751.86 million, a P/E ratio of 7.07 and a beta of 1.75. The company has a fifty day simple moving average of $7.38 and a two-hundred day simple moving average of $6.88. The company has a quick ratio of 2.95, a current ratio of 2.95 and a debt-to-equity ratio of 1.56.

TaskUs (NASDAQ:TASK - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.05. TaskUs had a net margin of 8.75% and a return on equity of 27.02%. The firm had revenue of $308.86 million for the quarter, compared to analysts' expectations of $297.58 million. Analysts anticipate that TaskUs will post 1.1 earnings per share for the current fiscal year.

TaskUs Company Profile

TaskUs, Inc is a provider of outsourced digital services and customer experience solutions for companies operating in the technology, social media, gaming, retail, e-commerce, financial technology and healthcare sectors. The company helps clients manage customer interactions and other business processes through a combination of human expertise, technology and data-driven operations.

Its services include customer care, content moderation, trust and safety, fraud and risk management, back-office support, artificial intelligence operations and digital consulting.

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