TaskUs (NASDAQ:TASK) Cut to “Equal Weight” at Morgan Stanley

Morgan Stanley downgraded shares of TaskUs (NASDAQ:TASK) from an overweight rating to an equal weight rating in a research report report published on Tuesday morning, Marketbeat.com reports. Morgan Stanley currently has $16.50 target price on the stock, down from their previous target price of $21.00.

A number of other equities analysts also recently issued reports on TASK. Robert W. Baird downgraded shares of TaskUs from an “outperform” rating to a “neutral” rating and set a $16.50 price objective on the stock. in a report on Monday, May 12th. Royal Bank Of Canada cut their price target on shares of TaskUs from $20.00 to $16.50 and set a “sector perform” rating on the stock in a report on Monday, May 12th. Zacks Research upgraded shares of TaskUs from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 20th. Finally, Baird R W lowered TaskUs from a “strong-buy” rating to a “hold” rating in a report on Monday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $16.88.

TaskUs Price Performance

Shares of NASDAQ:TASK opened at $17.39 on Tuesday. The firm has a market cap of $1.56 billion, a PE ratio of 25.20 and a beta of 2.16. The firm’s fifty day moving average is $17.23 and its 200-day moving average is $15.65. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.84 and a current ratio of 2.84. TaskUs has a 52 week low of $10.57 and a 52 week high of $19.60.

Hedge Funds Weigh In On TaskUs

Hedge funds and other institutional investors have recently modified their holdings of the company. Headlands Technologies LLC bought a new position in shares of TaskUs in the 2nd quarter worth approximately $475,000. State of Tennessee Department of Treasury raised its holdings in TaskUs by 42.2% in the second quarter. State of Tennessee Department of Treasury now owns 18,422 shares of the company’s stock worth $309,000 after purchasing an additional 5,471 shares in the last quarter. Moore Capital Management LP bought a new position in TaskUs in the second quarter worth $1,341,000. Lazard Asset Management LLC raised its holdings in TaskUs by 7.8% in the second quarter. Lazard Asset Management LLC now owns 18,522 shares of the company’s stock worth $308,000 after purchasing an additional 1,342 shares in the last quarter. Finally, LMR Partners LLP bought a new position in TaskUs in the second quarter worth $5,028,000. 44.64% of the stock is owned by institutional investors.

TaskUs Company Profile

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.