TaskUs, Inc. (NASDAQ:TASK) Short Interest Update

Key Points

• Short interest more than doubled to 4.04 million shares by July 31, up 102.6% from mid-month and representing about 6.5% of TaskUs’ outstanding shares.
• TaskUs reported quarterly EPS of $0.33, beating estimates by $0.05, while revenue of $308.86 million also exceeded expectations. Shares traded at $7.50, with a 52-week range of $4.47 to $18.39.
• Analysts maintain a consensus “Hold” rating with an average price target of $9.60; institutional investors own 44.64% of the stock, with several hedge funds recently initiating positions.

TaskUs, Inc. (NASDAQ:TASK - Get Free Report) was the target of a significant growth in short interest during the month of July. As of July 31st, there was short interest totaling 4,036,547 shares, a growth of 102.6% from the July 15th total of 1,992,205 shares. Approximately 6.5% of the shares of the company are sold short. Based on an average daily volume of 1,026,996 shares, the short-interest ratio is currently 3.9 days.

TaskUs Stock Performance

Shares of NASDAQ TASK traded up $0.23 during trading on Friday, hitting $7.50. The company had a trading volume of 630,507 shares, compared to its average volume of 1,052,644. TaskUs has a 12 month low of $4.47 and a 12 month high of $18.39. The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.95 and a current ratio of 2.95. The firm has a market capitalization of $686.85 million, a P/E ratio of 6.47 and a beta of 1.87. The stock has a 50 day simple moving average of $5.73 and a 200 day simple moving average of $7.43.

TaskUs (NASDAQ:TASK - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $308.86 million during the quarter, compared to the consensus estimate of $297.58 million. TaskUs had a return on equity of 27.02% and a net margin of 8.75%. As a group, analysts anticipate that TaskUs will post 1.1 earnings per share for the current year.

Institutional Trading of TaskUs

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Saba Capital Management L.P. bought a new stake in shares of TaskUs during the 1st quarter valued at $14,016,000. Qube Research & Technologies Ltd bought a new position in TaskUs in the 2nd quarter worth $16,325,000. Irenic Capital Management LP purchased a new stake in TaskUs in the 4th quarter worth $11,253,000. Dalton Investments Inc. purchased a new stake in TaskUs in the 4th quarter worth $11,174,000. Finally, Calamos Advisors LLC bought a new stake in TaskUs during the fourth quarter valued at about $8,549,000. 44.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on TASK shares. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of TaskUs in a research report on Tuesday, July 14th. Wedbush dropped their price objective on shares of TaskUs from $12.00 to $9.00 and set an "outperform" rating on the stock in a report on Thursday, August 6th. The Goldman Sachs Group reduced their target price on shares of TaskUs from $10.00 to $7.00 and set a "sell" rating for the company in a report on Thursday, May 7th. Morgan Stanley increased their price target on shares of TaskUs from $6.00 to $7.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Finally, Robert W. Baird set a $12.00 price target on shares of TaskUs in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, TaskUs has a consensus rating of "Hold" and an average price target of $9.60.

About TaskUs

TaskUs, Inc is a leading provider of outsourced digital customer experience and business process solutions, specializing in high-touch services for technology and digital-native companies. The firm delivers a range of offerings including customer care, content moderation, trust and safety monitoring, back-office processing and AI operations support. By combining technology-driven platforms with human-centric workflows, TaskUs helps clients optimize operational efficiency and maintain brand integrity across digital channels.

The company was founded in 2008 by Jaspar Weir and Bryce Maddock with the goal of reimagining traditional outsourcing through a focus on culture, technology and innovation.

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