TaskUs, Inc. (NASDAQ:TASK) Receives Average Recommendation of “Hold” from Analysts

Shares of TaskUs, Inc. (NASDAQ:TASK) have been given a consensus rating of “Hold” by the eight research firms that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $11.20.

TASK has been the topic of several research analyst reports. Royal Bank Of Canada dropped their price target on TaskUs from $17.00 to $13.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 26th. Wedbush dropped their price target on TaskUs from $14.00 to $12.00 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. Wall Street Zen downgraded TaskUs from a “buy” rating to a “hold” rating in a research note on Monday, May 11th. Piper Sandler downgraded TaskUs to a “neutral” rating in a research note on Friday, February 27th. Finally, Weiss Ratings downgraded TaskUs from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, April 16th.

Insiders Place Their Bets

In related news, insider Jarrod Johnson sold 25,000 shares of the company’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $6.78, for a total value of $169,500.00. Following the completion of the transaction, the insider owned 36,536 shares of the company’s stock, valued at approximately $247,714.08. This represents a 40.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 31.92% of the company’s stock.

Hedge Funds Weigh In On TaskUs

A number of hedge funds have recently made changes to their positions in TASK. Goldman Sachs Group Inc. raised its holdings in shares of TaskUs by 11.9% during the first quarter. Goldman Sachs Group Inc. now owns 183,889 shares of the company’s stock valued at $2,506,000 after acquiring an additional 19,495 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of TaskUs by 0.3% during the second quarter. Geode Capital Management LLC now owns 205,442 shares of the company’s stock valued at $3,444,000 after acquiring an additional 647 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of TaskUs by 182.6% during the second quarter. JPMorgan Chase & Co. now owns 209,998 shares of the company’s stock valued at $3,520,000 after acquiring an additional 135,691 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of TaskUs by 4.9% during the second quarter. American Century Companies Inc. now owns 43,404 shares of the company’s stock valued at $727,000 after acquiring an additional 2,045 shares during the last quarter. Finally, New York State Common Retirement Fund acquired a new position in shares of TaskUs during the second quarter valued at approximately $67,000. Institutional investors and hedge funds own 44.64% of the company’s stock.

TaskUs Stock Up 0.7%

TaskUs stock opened at $6.16 on Friday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 2.75 and a current ratio of 2.75. The business’s 50-day simple moving average is $7.28 and its two-hundred day simple moving average is $9.92. The company has a market cap of $564.13 million, a PE ratio of 5.40 and a beta of 1.88. TaskUs has a fifty-two week low of $5.39 and a fifty-two week high of $18.39.

TaskUs (NASDAQ:TASK) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. The business had revenue of $306.27 million for the quarter, compared to the consensus estimate of $296.68 million. TaskUs had a return on equity of 24.93% and a net margin of 8.70%. Equities analysts anticipate that TaskUs will post 1.08 EPS for the current year.

TaskUs Dividend Announcement

The firm also recently declared a dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 11th were issued a $3.65 dividend.

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.