TaskUs (NASDAQ:TASK) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of TaskUs (NASDAQ:TASK) from a hold rating to a buy rating in a report issued on Saturday,Wall Street Zen reports.

Several other research analysts have also weighed in on TASK. Weiss Ratings raised shares of TaskUs from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, October 19th. Wedbush decreased their price objective on shares of TaskUs from $12.00 to $9.00 and set an “outperform” rating for the company in a report on Thursday, August 6th. Robert W. Baird set a $12.00 target price on shares of TaskUs in a research note on Thursday, August 6th. Finally, Morgan Stanley upped their target price on shares of TaskUs from $6.00 to $7.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $9.60.

TaskUs Stock Down 0.4%

Shares of TaskUs stock opened at $8.53 on Friday. The business has a fifty day simple moving average of $8.10 and a 200 day simple moving average of $7.87. The stock has a market cap of $782.12 million, a PE ratio of 7.35 and a beta of 1.83. The company has a quick ratio of 2.95, a current ratio of 2.95 and a debt-to-equity ratio of 1.56. TaskUs has a 12 month low of $4.47 and a 12 month high of $14.35.

TaskUs (NASDAQ:TASK) last released its earnings results on Wednesday, August 5th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.05. The firm had revenue of $308.86 million for the quarter, compared to analyst estimates of $297.58 million. TaskUs had a return on equity of 27.02% and a net margin of 8.75%. Research analysts predict that TaskUs will post 1.10 EPS for the current year.

Institutional Inflows and Outflows

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

About TaskUs

TaskUs, Inc (NASDAQ: TASK) is a provider of digital outsourcing and customer experience services for technology companies and other high-growth businesses. The company helps clients manage customer interactions, back-office operations and other business processes through a combination of trained personnel, technology and data-driven workflows.

Its services include customer care, technical support, content moderation, trust and safety, fraud prevention, artificial intelligence operations and back-office support.