TaskUs, Inc. (NASDAQ:TASK) Given Consensus Rating of "Hold" by Analysts

Key Points

• TaskUs, Inc. has received a consensus rating of "Hold" from analysts, with six hold ratings, one buy, and one strong buy among eight brokerages covering the company.
• The average 12-month target price for TaskUs stock is $17.25, following recent adjustments from various brokerages, including a downgrade from Morgan Stanley.
• TaskUs's stock has recently experienced a 6.5% decline, opening at $13.73 with a market capitalization of $1.23 billion.

TaskUs, Inc. (NASDAQ:TASK - Get Free Report) has been assigned an average recommendation of "Hold" from the eight brokerages that are currently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $17.25.

A number of brokerages have issued reports on TASK. Zacks Research raised shares of TaskUs from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 20th. Morgan Stanley downgraded TaskUs from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $21.00 to $16.50 in a research report on Tuesday, September 9th. Robert W. Baird boosted their price objective on shares of TaskUs from $16.50 to $18.00 and gave the company a "neutral" rating in a research report on Thursday. Finally, Weiss Ratings restated a "hold (c)" rating on shares of TaskUs in a report on Wednesday.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Geode Capital Management LLC grew its stake in shares of TaskUs by 0.3% during the second quarter. Geode Capital Management LLC now owns 205,442 shares of the company's stock valued at $3,444,000 after buying an additional 647 shares during the last quarter. First Trust Advisors LP boosted its holdings in TaskUs by 1.3% during the 2nd quarter. First Trust Advisors LP now owns 54,531 shares of the company's stock valued at $914,000 after acquiring an additional 716 shares during the period. Lazard Asset Management LLC grew its position in TaskUs by 7.8% in the 2nd quarter. Lazard Asset Management LLC now owns 18,522 shares of the company's stock valued at $308,000 after acquiring an additional 1,342 shares during the last quarter. Swiss National Bank increased its stake in TaskUs by 6.1% in the second quarter. Swiss National Bank now owns 34,700 shares of the company's stock worth $582,000 after purchasing an additional 2,000 shares during the period. Finally, American Century Companies Inc. lifted its position in shares of TaskUs by 4.9% during the second quarter. American Century Companies Inc. now owns 43,404 shares of the company's stock worth $727,000 after purchasing an additional 2,045 shares during the last quarter. Hedge funds and other institutional investors own 44.64% of the company's stock.

TaskUs Trading Down 6.5%

TaskUs stock opened at $13.73 on Friday. The firm has a 50 day moving average of $17.28 and a 200 day moving average of $16.15. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 19.90 and a beta of 2.15. TaskUs has a 12-month low of $11.26 and a 12-month high of $19.60. The company has a current ratio of 2.84, a quick ratio of 2.84 and a debt-to-equity ratio of 0.42.

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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