TaskUs, Inc. (NASDAQ:TASK) Given Average Recommendation of "Hold" by Analysts

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.

Shares of TaskUs, Inc. (NASDAQ:TASK - Get Free Report) have earned a consensus rating of "Hold" from the seven research firms that are currently covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $16.8750.

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

TaskUs Stock Up 0.2%

Shares of NASDAQ TASK opened at $17.40 on Tuesday. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of 25.22 and a beta of 2.16. The company has a quick ratio of 2.84, a current ratio of 2.84 and a debt-to-equity ratio of 0.42. TaskUs has a 52-week low of $10.57 and a 52-week high of $19.60. The business's 50 day moving average is $17.25 and its two-hundred day moving average is $15.69.

Institutional Investors Weigh In On TaskUs

Hedge funds and other institutional investors have recently modified their holdings of the stock. New York State Common Retirement Fund acquired a new stake in shares of TaskUs during the 2nd quarter valued at approximately $67,000. Harbor Capital Advisors Inc. purchased a new stake in TaskUs in the 1st quarter worth approximately $63,000. BNP Paribas Financial Markets purchased a new stake in TaskUs in the 4th quarter worth approximately $80,000. Point72 Asset Management L.P. acquired a new position in shares of TaskUs in the 4th quarter valued at $83,000. Finally, Quarry LP acquired a new position in shares of TaskUs in the 1st quarter valued at $83,000. 44.64% of the stock is currently owned by institutional investors and hedge funds.

TaskUs Company Profile

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.

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