TaskUs (NASDAQ:TASK) Receives "Outperform" Rating from Wedbush

Key Points

• Wedbush reiterated an "Outperform" rating on TaskUs with a $14 target, implying about a 106% upside from the current share price.
• Analyst sentiment is mixed: the MarketBeat consensus is a "Hold" with a consensus target of $14.25 (1 Strong Buy, 1 Buy, 6 Hold, 1 Sell).
• Shares trade around $6.78 with a market cap of ~$614M and a P/E of 6.11, and the company recently beat quarterly estimates (EPS $0.40 vs. $0.36; revenue $312.96M vs. $303.68M).

TaskUs (NASDAQ:TASK - Get Free Report)'s stock had its "outperform" rating reiterated by Wedbush in a research note issued on Wednesday,Benzinga reports. They presently have a $14.00 target price on the stock. Wedbush's target price would suggest a potential upside of 106.49% from the company's current price.

TASK has been the subject of a number of other reports. Morgan Stanley decreased their price objective on TaskUs from $16.50 to $12.00 and set an "equal weight" rating for the company in a research report on Friday, February 27th. Royal Bank Of Canada decreased their price objective on TaskUs from $17.00 to $13.00 and set a "sector perform" rating for the company in a research report on Thursday, February 26th. Wall Street Zen lowered TaskUs from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 7th. Weiss Ratings restated a "hold (c-)" rating on shares of TaskUs in a research report on Thursday, April 2nd. Finally, Piper Sandler lowered TaskUs to a "neutral" rating in a research report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $14.25.

TaskUs Trading Down 0.6%

Shares of TASK opened at $6.78 on Wednesday. The business's 50-day moving average price is $9.46 and its 200 day moving average price is $11.43. The stock has a market capitalization of $614.00 million, a P/E ratio of 6.11 and a beta of 2.06. TaskUs has a 1-year low of $6.20 and a 1-year high of $18.39. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 0.37.

TaskUs (NASDAQ:TASK - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.04. The firm had revenue of $312.96 million for the quarter, compared to analysts' expectations of $303.68 million. TaskUs had a return on equity of 22.52% and a net margin of 8.64%. Analysts expect that TaskUs will post 0.9 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Jarrod Johnson sold 11,406 shares of TaskUs stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $6.89, for a total transaction of $78,587.34. Following the completion of the sale, the insider directly owned 25,130 shares in the company, valued at $173,145.70. The trade was a 31.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 30.63% of the company's stock.

Institutional Investors Weigh In On TaskUs

Institutional investors have recently made changes to their positions in the company. Strategic Advocates LLC acquired a new stake in shares of TaskUs during the 3rd quarter valued at about $41,000. Allworth Financial LP lifted its holdings in shares of TaskUs by 9,224.0% during the 4th quarter. Allworth Financial LP now owns 2,331 shares of the company's stock valued at $27,000 after buying an additional 2,306 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of TaskUs during the 3rd quarter valued at about $44,000. New York State Common Retirement Fund acquired a new stake in shares of TaskUs during the 2nd quarter valued at about $67,000. Finally, Harbor Capital Advisors Inc. lifted its holdings in shares of TaskUs by 21.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 4,994 shares of the company's stock valued at $89,000 after buying an additional 896 shares during the last quarter. 44.64% of the stock is currently owned by institutional investors and hedge funds.

TaskUs Company Profile

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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