TaskUs, Inc. (NASDAQ:TASK) Stock Has Consensus Target Price of $9.60 According to Analysts

Key Points

• Analysts have a consensus “Hold” rating on TaskUs, with five holds, one sell, and one buy among seven analysts. The average 12-month price target is $9.60, versus the reported share price of $8.42.
• TaskUs exceeded quarterly expectations, reporting $0.33 EPS versus the $0.28 consensus estimate and revenue of $308.86 million versus expectations of $297.58 million.
• The stock was trading 2.4% higher, with a market capitalization of approximately $772 million; institutional investors own 44.64% of the outstanding shares.

Shares of TaskUs, Inc. (NASDAQ:TASK - Get Free Report) have received a consensus recommendation of "Hold" from the seven research firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $9.60.

Several analysts have commented on the stock. Wall Street Zen cut shares of TaskUs from a "buy" rating to a "hold" rating in a research note on Saturday, October 3rd. Wedbush reduced their price target 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. Weiss Ratings upgraded TaskUs from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday. Robert W. Baird set a $12.00 price target on shares of TaskUs in a report on Thursday, August 6th. Finally, Morgan Stanley boosted their price target on TaskUs from $6.00 to $7.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 11th.

TaskUs Trading Up 2.4%

NASDAQ TASK opened at $8.42 on Wednesday. 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 firm has a 50-day moving average price of $8.01 and a 200 day moving average price of $6.71. The stock has a market capitalization of $772.03 million, a P/E ratio of 7.26 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 issued its 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 company had revenue of $308.86 million during the quarter, compared to analysts' expectations of $297.58 million. Equities research analysts expect that TaskUs will post 1.10 EPS for the current year.

Hedge Funds Weigh In On TaskUs

Several large investors have recently added to or reduced their stakes in the company. Saba Capital Management L.P. bought a new position in shares of TaskUs in the first quarter valued at $14,016,000. Dimensional Fund Advisors LP lifted its position in shares of TaskUs by 12.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 678,859 shares of the company's stock valued at $4,554,000 after acquiring an additional 77,072 shares during the last quarter. Bank of America Corp DE lifted its position in shares of TaskUs by 2,573.2% during the 1st quarter. Bank of America Corp DE now owns 106,475 shares of the company's stock valued at $714,000 after acquiring an additional 102,492 shares during the last quarter. Inspire Investing LLC boosted its stake 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 acquiring an additional 37,218 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake 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 acquiring an additional 2,805 shares in the last quarter. 44.64% of the stock is currently owned by institutional investors.

About TaskUs

TaskUs, Inc is a global provider of outsourced digital services and business-process solutions. The company helps technology, consumer, and other digitally focused businesses manage customer experience, technical support, content moderation, trust and safety, and back-office operations.

Its services also include artificial intelligence and data operations, including data annotation and model-support services, as well as risk and response solutions designed to help clients address fraud, abuse, and other online safety challenges.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.