TaskUs, Inc. (NASDAQ:TASK) was the target of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 390,800 shares, a growth of 256.6% from the August 15th total of 109,600 shares. Currently, 5.1% of the company’s stock are sold short. Based on an average daily trading volume, of 700,400 shares, the days-to-cover ratio is currently 0.6 days.
Several institutional investors have recently added to or reduced their stakes in TASK. Victory Capital Management Inc. purchased a new stake in shares of TaskUs in the second quarter worth approximately $342,000. Teacher Retirement System of Texas purchased a new stake in TaskUs in the second quarter worth $25,680,000. American Century Companies Inc. bought a new stake in shares of TaskUs during the second quarter worth $32,439,000. Sei Investments Co. purchased a new stake in shares of TaskUs during the second quarter valued at $1,934,000. Finally, Levin Capital Strategies L.P. bought a new position in shares of TaskUs in the second quarter worth about $342,000. Hedge funds and other institutional investors own 19.97% of the company’s stock.
A number of research analysts recently issued reports on the stock. Morgan Stanley assumed coverage on shares of TaskUs in a research report on Tuesday, July 6th. They set an “equal weight” rating and a $34.00 price target for the company. The Goldman Sachs Group started coverage on TaskUs in a report on Tuesday, July 6th. They set a “buy” rating and a $61.00 price target for the company. Wells Fargo & Company began coverage on shares of TaskUs in a research note on Tuesday, July 6th. They issued an “overweight” rating and a $35.00 target price on the stock. Royal Bank of Canada assumed coverage on TaskUs in a report on Tuesday, July 6th. They set an “outperform” rating and a $43.00 price target on the stock. Finally, BTIG Research began coverage on shares of TaskUs in a research note on Thursday, July 8th. They issued a “buy” rating and a $45.00 price target for the company. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, TaskUs currently has a consensus rating of “Buy” and a consensus price target of $46.88.
TaskUs (NASDAQ:TASK) last issued its quarterly earnings results on Tuesday, August 10th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The company had revenue of $180.02 million during the quarter, compared to the consensus estimate of $161.96 million. The firm’s revenue was up 57.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.18 EPS. Research analysts expect that TaskUs will post 1.17 EPS for the current fiscal year.
TaskUs, Inc provides outsourcing services to Internet companies worldwide. It offers digital customer experience that consists of omni-channel customer care services primarily delivered through digital channels; and other solutions, including customer care services for new product or market launches, trust and safety solutions, and customer acquisition solutions.
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