TaskUs (NASDAQ:TASK) Reaches New 52-Week Low – Here’s Why

TaskUs, Inc. (NASDAQ:TASK)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $10.56 and last traded at $10.5850, with a volume of 31431 shares trading hands. The stock had previously closed at $10.73.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TASK. The Goldman Sachs Group upgraded shares of TaskUs to a “strong sell” rating in a research report on Monday, November 10th. Wedbush assumed coverage on shares of TaskUs in a research note on Tuesday. They issued an “outperform” rating and a $15.00 target price for the company. Robert W. Baird raised shares of TaskUs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 14th. Royal Bank Of Canada increased their price target on shares of TaskUs from $16.50 to $17.00 and gave the stock a “sector perform” rating in a report on Monday, November 10th. Finally, Wall Street Zen upgraded shares of TaskUs to a “strong-buy” rating in a research report on Saturday, January 17th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $16.63.

TaskUs Stock Performance

The stock’s fifty day simple moving average is $11.59 and its 200-day simple moving average is $14.22. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $981.22 million, a PE ratio of 12.17 and a beta of 2.12.

TaskUs (NASDAQ:TASK) last released its quarterly earnings data on Friday, November 7th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.06. The firm had revenue of $298.71 million during the quarter, compared to the consensus estimate of $286.71 million. TaskUs had a return on equity of 21.27% and a net margin of 7.11%. On average, research analysts predict that TaskUs, Inc. will post 0.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TaskUs

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TASK. Hudson Bay Capital Management LP acquired a new stake in shares of TaskUs in the third quarter valued at approximately $17,796,000. Qube Research & Technologies Ltd purchased a new stake in TaskUs in the 2nd quarter valued at approximately $16,325,000. Calamos Advisors LLC acquired a new stake in TaskUs during the 4th quarter valued at $8,549,000. Think Investments LP grew its holdings in TaskUs by 14.8% during the 2nd quarter. Think Investments LP now owns 3,734,665 shares of the company’s stock valued at $62,593,000 after buying an additional 481,307 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in TaskUs by 39.6% during the third quarter. Vanguard Group Inc. now owns 1,536,748 shares of the company’s stock worth $27,431,000 after buying an additional 435,892 shares in the last quarter. Institutional investors and hedge funds own 44.64% of the company’s stock.

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.