TaskUs (NASDAQ:TASK) Raised to Buy at Wall Street Zen

TaskUs (NASDAQ:TASK) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday, Wall Street Zen reports.

TASK has been the topic of a number of other research reports. Morgan Stanley increased their price objective on TaskUs from $6.00 to $7.00 and gave the company an “equal weight” rating in a report on Tuesday, August 11th. Wedbush decreased their target price on TaskUs from $12.00 to $9.00 and set an “outperform” rating for the company in a research note on Thursday, August 6th. Robert W. Baird set a $12.00 price target on TaskUs in a report on Thursday, August 6th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of TaskUs in a research note on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $9.60.

TaskUs Price Performance

TaskUs stock opened at $8.12 on Friday. The company has a current ratio of 2.95, a quick ratio of 2.95 and a debt-to-equity ratio of 1.56. The company has a fifty day simple moving average of $7.13 and a 200-day simple moving average of $6.95. The stock has a market cap of $744.52 million, a P/E ratio of 7.00 and a beta of 1.75. TaskUs has a 12-month low of $4.47 and a 12-month high of $18.08.

TaskUs (NASDAQ:TASK) last posted its earnings results on Wednesday, August 5th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.28 by $0.05. TaskUs had a return on equity of 27.02% and a net margin of 8.75%.The firm had revenue of $308.86 million for the quarter, compared to analyst estimates of $297.58 million. Equities analysts expect that TaskUs will post 1.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Squarepoint Ops LLC purchased a new stake in TaskUs in the second quarter valued at approximately $148,000. Alamar Capital Management LLC purchased a new position in shares of TaskUs during the second quarter worth approximately $80,000. Bank of America Corp DE grew its position in shares of TaskUs by 2,573.2% during the first quarter. Bank of America Corp DE now owns 106,475 shares of the company’s stock worth $714,000 after acquiring an additional 102,492 shares during the last quarter. Saba Capital Management L.P. acquired a new position in shares of TaskUs in the 1st quarter valued at $14,016,000. Finally, Renaissance Technologies LLC acquired a new position in shares of TaskUs in the 1st quarter valued at $242,000. Hedge funds and other institutional investors own 44.64% of the company’s stock.

About TaskUs

TaskUs, Inc is a provider of outsourced digital services and customer experience solutions for companies operating in the technology, social media, gaming, retail, e-commerce, financial technology and healthcare sectors. The company helps clients manage customer interactions and other business processes through a combination of human expertise, technology and data-driven operations.

Its services include customer care, content moderation, trust and safety, fraud and risk management, back-office support, artificial intelligence operations and digital consulting.