TaskUs (NASDAQ:TASK) Upgraded at Zacks Research

Key Points

• TaskUs has been upgraded by Zacks Research from a "hold" rating to a "strong-buy" rating.
• Several analysts, including Baird R W and Royal Bank Of Canada, have recently downgraded TaskUs, reflecting mixed sentiments with an average rating of "Moderate Buy".
• TaskUs shares opened at $17.37, with a market cap of $1.56 billion and a twelve-month high of $19.60.

TaskUs (NASDAQ:TASK - Get Free Report) was upgraded by investment analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report issued on Wednesday,Zacks.com reports.

A number of other analysts have also recently commented on the company. Baird R W cut TaskUs from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 12th. Robert W. Baird cut shares of TaskUs from an "outperform" rating to a "neutral" rating and set a $16.50 price target on the stock. in a research note on Monday, May 12th. William Blair cut shares of TaskUs from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 9th. Finally, Royal Bank Of Canada dropped their target price on shares of TaskUs from $20.00 to $16.50 and set a "sector perform" rating on the stock in a research report on Monday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, TaskUs has an average rating of "Moderate Buy" and a consensus target price of $17.40.

TaskUs Price Performance

Shares of TaskUs stock opened at $17.37 on Wednesday. The firm has a market cap of $1.56 billion, a PE ratio of 25.17 and a beta of 2.16. TaskUs has a twelve month low of $10.57 and a twelve month high of $19.60. The company has a quick ratio of 2.84, a current ratio of 2.84 and a debt-to-equity ratio of 0.42. The business has a 50-day moving average price of $16.98 and a 200 day moving average price of $15.43.

Institutional Inflows and Outflows

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.