TaskUs, Inc. (NASDAQ:TASK) Stock Has Consensus Price Target of $9.80 According to Analysts

Key Points

• Analysts have a consensus “Hold” rating on TaskUs, with one sell, four hold and one buy recommendation; their average 12-month price target is $9.80.
• TaskUs beat quarterly estimates, reporting earnings of $0.34 per share versus $0.31 expected and revenue of $314.75 million versus $305.23 million expected.
• Shares recently traded at $9.21, near the analyst consensus price target, and institutional investors and hedge funds own 44.64% of the stock.

TaskUs, Inc. (NASDAQ:TASK - Get Free Report) has received a consensus rating of "Hold" from the six ratings firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $9.80.

Several equities research analysts recently commented on the stock. Robert W. Baird set a $12.00 price target on shares of TaskUs 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 report on Monday, October 19th. Morgan Stanley increased their price objective on shares of TaskUs from $6.00 to $7.00 and gave the company an "equal weight" rating in a report on Tuesday, August 11th. Wedbush dropped their target price on shares of TaskUs from $12.00 to $9.00 and set an "outperform" rating on the stock in a research report on Thursday, August 6th. Finally, The Goldman Sachs Group boosted their target price on shares of TaskUs from $7.00 to $8.00 and gave the stock a "sell" rating in a research note on Thursday, November 5th.

Institutional Investors Weigh In On TaskUs

Institutional investors have recently bought and sold shares of the company. Brooklands Fund Management Ltd acquired a new stake in shares of TaskUs in the third quarter valued at about $27,500,000. Saba Capital Management L.P. acquired a new position in TaskUs during the first quarter worth about $14,016,000. Bank of America Corp DE boosted its position in TaskUs by 2,573.2% during the first quarter. Bank of America Corp DE now owns 106,475 shares of the company's stock worth $714,000 after acquiring an additional 102,492 shares during the last quarter. Dimensional Fund Advisors LP boosted its position 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. Finally, Marshall Wace LLP grew its stake in TaskUs by 559.9% during the 3rd quarter. Marshall Wace LLP now owns 568,596 shares of the company's stock valued at $4,452,000 after acquiring an additional 482,431 shares in the last quarter. 44.64% of the stock is currently owned by institutional investors and hedge funds.

TaskUs Price Performance

Shares of NASDAQ:TASK traded up $0.21 during trading on Friday, reaching $9.21. 230,842 shares of the company's stock traded hands, compared to its average volume of 257,376. The company has a quick ratio of 2.99, a current ratio of 2.99 and a debt-to-equity ratio of 1.44. TaskUs has a fifty-two week low of $4.47 and a fifty-two week high of $12.65. The company has a 50-day simple moving average of $8.33 and a 200-day simple moving average of $7.67. The firm has a market cap of $844.46 million, a PE ratio of 8.37 and a beta of 1.93.

TaskUs (NASDAQ:TASK - Get Free Report) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.03. TaskUs had a return on equity of 30.17% and a net margin of 8.22%. The company had revenue of $314.75 million during the quarter, compared to analysts' expectations of $305.23 million. As a group, analysts predict that TaskUs will post 1.10 earnings per share for the current year.

TaskUs Company Profile

TaskUs, Inc. provides outsourced digital services to technology companies and other businesses. Its services include customer experience support across digital channels, content moderation and trust and safety operations, and back-office support. The company also supports artificial intelligence and machine-learning initiatives through services such as data annotation and preparation. Its work helps clients manage customer interactions, review online content, and handle operational processes. Founded in 2008 by Bryce Maddock and Jaspar Weir, TaskUs serves clients through a global network of operations, including in the United States, India, and the Philippines.

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