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

Key Points

• TaskUs, Inc. has received a consensus rating of "Hold" from seven analysts, with five holding, one buying, and one strongly buying the stock.
• Morgan Stanley recently downgraded TaskUs from an "overweight" to an "equal weight" rating and reduced its target price from $21.00 to $16.50.
• Institutional investors currently hold 44.64% of TaskUs stock, with recent acquisitions valued at approximately $67,000 to $83,000 by various funds.

TaskUs, Inc. (NASDAQ:TASK - Get Free Report) has received an average rating of "Hold" from the seven brokerages that are presently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $16.8750.

TASK has been the subject of several analyst reports. Morgan Stanley cut TaskUs from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $21.00 to $16.50 in a report on Tuesday, September 9th. Zacks Research upgraded TaskUs from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 20th.

Institutional Trading of TaskUs

A number of institutional investors have recently added to or reduced their stakes in TASK. Harbor Capital Advisors Inc. acquired a new stake in TaskUs during the first quarter worth about $63,000. New York State Common Retirement Fund bought a new stake in TaskUs in the second quarter valued at about $67,000. BNP Paribas Financial Markets bought a new stake in shares of TaskUs during the fourth quarter valued at approximately $80,000. Point72 Asset Management L.P. acquired a new stake in TaskUs in the fourth quarter worth $83,000. Finally, Quarry LP acquired a new stake in shares of TaskUs during the first quarter worth $83,000. 44.64% of the stock is owned by hedge funds and other institutional investors.

TaskUs Trading Down 0.1%

TASK traded down $0.01 during trading on Tuesday, hitting $17.54. 845,508 shares of the stock were exchanged, compared to its average volume of 523,289. TaskUs has a 1 year low of $10.57 and a 1 year high of $19.60. The firm has a 50 day simple moving average of $17.31 and a 200 day simple moving average of $15.78. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 25.42 and a beta of 2.16. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.84 and a current ratio of 2.84.

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.