TaskUs (NASDAQ:TASK) Reaches New 12-Month High Following Analyst Upgrade

TaskUs, Inc. (NASDAQ:TASK) shares hit a new 52-week high during trading on Friday after Robert W. Baird raised their price target on the stock from $14.00 to $16.00. Robert W. Baird currently has an outperform rating on the stock. TaskUs traded as high as $15.63 and last traded at $15.31, with a volume of 50532 shares trading hands. The stock had previously closed at $14.86.

TASK has been the topic of a number of other research reports. Guggenheim started coverage on TaskUs in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $13.00 price target on the stock. Citigroup dropped their price objective on TaskUs from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Finally, The Goldman Sachs Group began coverage on TaskUs in a research note on Monday, June 24th. They set a “sell” rating and a $12.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $13.63.

Institutional Trading of TaskUs

Hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC bought a new position in shares of TaskUs in the 4th quarter valued at about $2,362,000. Quarry LP grew its holdings in shares of TaskUs by 326.6% in the 4th quarter. Quarry LP now owns 4,321 shares of the company’s stock valued at $56,000 after acquiring an additional 3,308 shares in the last quarter. Olympiad Research LP bought a new position in shares of TaskUs in the 4th quarter valued at about $185,000. DekaBank Deutsche Girozentrale bought a new position in shares of TaskUs in the 4th quarter valued at about $64,000. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of TaskUs by 145.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 120,920 shares of the company’s stock valued at $1,409,000 after acquiring an additional 71,621 shares in the last quarter. Institutional investors and hedge funds own 44.64% of the company’s stock.

TaskUs Price Performance

The company has a market cap of $1.35 billion, a P/E ratio of 29.14, a PEG ratio of 5.45 and a beta of 2.32. The company has a fifty day moving average price of $13.86 and a two-hundred day moving average price of $12.78. The company has a debt-to-equity ratio of 0.56, a quick ratio of 3.36 and a current ratio of 3.36.

TaskUs (NASDAQ:TASK) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. TaskUs had a return on equity of 16.61% and a net margin of 5.23%. The business had revenue of $227.47 million during the quarter, compared to analysts’ expectations of $223.50 million. On average, sell-side analysts anticipate that TaskUs, Inc. will post 0.83 earnings per share for the current fiscal year.

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.