TaskUs (NASDAQ:TASK) Stock Price Up 3.3%

TaskUs, Inc. (NASDAQ:TASK)’s stock price shot up 3.3% during trading on Wednesday . The stock traded as high as $11.14 and last traded at $11.02. 76,960 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 212,283 shares. The stock had previously closed at $10.67.

Analyst Upgrades and Downgrades

Several brokerages have commented on TASK. Bank of America raised their price target on shares of TaskUs from $11.00 to $12.00 and gave the company an “underperform” rating in a report on Thursday, February 29th. Royal Bank of Canada raised their price target on shares of TaskUs from $16.00 to $17.00 and gave the company a “sector perform” rating in a report on Thursday, February 29th. Citigroup raised their price target on shares of TaskUs from $13.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Finally, Guggenheim began coverage on shares of TaskUs in a report on Tuesday, March 19th. They issued a “neutral” rating and a $13.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, TaskUs presently has a consensus rating of “Hold” and a consensus price target of $14.63.

TaskUs Stock Performance

The company’s 50-day moving average price is $12.06 and its two-hundred day moving average price is $11.76. The company has a debt-to-equity ratio of 0.58, a quick ratio of 3.23 and a current ratio of 3.23. The stock has a market cap of $984.24 million, a PE ratio of 22.70, a PEG ratio of 2.99 and a beta of 2.35.

TaskUs (NASDAQ:TASK) last issued its earnings results on Wednesday, February 28th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The company had revenue of $234.26 million for the quarter, compared to analysts’ expectations of $225.96 million. TaskUs had a net margin of 4.94% and a return on equity of 16.91%. On average, equities research analysts forecast that TaskUs, Inc. will post 0.75 EPS for the current year.

Institutional Investors Weigh In On TaskUs

A number of large investors have recently added to or reduced their stakes in TASK. Advisors Asset Management Inc. bought a new stake in TaskUs in the 1st quarter worth $42,000. Quarry LP grew its holdings in TaskUs by 326.6% in the 4th quarter. Quarry LP now owns 4,321 shares of the company’s stock worth $56,000 after acquiring an additional 3,308 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in TaskUs in the 2nd quarter worth $61,000. DekaBank Deutsche Girozentrale bought a new stake in TaskUs in the 4th quarter worth $64,000. Finally, Transatlantique Private Wealth LLC bought a new stake in TaskUs in the 3rd quarter worth $107,000. Institutional investors own 44.64% of the company’s stock.

About TaskUs

TaskUs, Inc provides digital outsourcing services for companies in Philippines, the United States, India, and internationally. It offers digital customer experience that consists of omni-channel customer care services primarily delivered through non-voice digital channels; and other solutions, including experience and customer care services for new product or market launches, and customer acquisition solutions.