TaskUs (NASDAQ:TASK) Reaches New 52-Week Low – Here’s What Happened

TaskUs, Inc. (NASDAQ:TASK)’s share price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $10.58 and last traded at $10.73, with a volume of 68400 shares. The stock had previously closed at $10.72.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TASK. The Goldman Sachs Group raised shares of TaskUs to a “strong sell” rating in a report on Monday, November 10th. Wall Street Zen raised shares of TaskUs to a “strong-buy” rating in a report on Saturday, January 17th. Robert W. Baird upgraded TaskUs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of TaskUs in a research report on Wednesday, October 8th. Finally, Royal Bank Of Canada increased their target price on shares of TaskUs from $16.50 to $17.00 and gave the stock a “sector perform” rating in a research note on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $17.17.

TaskUs Trading Up 0.7%

The company has a market cap of $976.42 million, a price-to-earnings ratio of 12.12 and a beta of 2.12. The business’s 50-day simple moving average is $11.61 and its 200-day simple moving average is $14.41. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.89 and a quick ratio of 2.89.

TaskUs (NASDAQ:TASK) last issued its quarterly earnings results on Friday, November 7th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. TaskUs had a net margin of 7.11% and a return on equity of 21.27%. The business had revenue of $298.71 million during the quarter, compared to the consensus estimate of $286.71 million. Research analysts predict that TaskUs, Inc. will post 0.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TaskUs

A number of institutional investors have recently made changes to their positions in TASK. Strategic Advocates LLC bought a new position in TaskUs during the third quarter worth $41,000. FNY Investment Advisers LLC bought a new position in TaskUs in the 3rd quarter valued at about $44,000. New York State Common Retirement Fund bought a new stake in TaskUs during the second quarter worth approximately $67,000. Harbor Capital Advisors Inc. raised its stake in shares of TaskUs by 21.9% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 4,994 shares of the company’s stock worth $89,000 after buying an additional 896 shares in the last quarter. Finally, PenderFund Capital Management Ltd. acquired a new stake in TaskUs in the 3rd quarter valued at about $157,000. 44.64% of the stock is owned by institutional investors and hedge funds.

About TaskUs

TaskUs, Inc is a leading provider of outsourced digital customer experience and business process solutions, specializing in high-touch services for technology and digital-native companies. The firm delivers a range of offerings including customer care, content moderation, trust and safety monitoring, back-office processing and AI operations support. By combining technology-driven platforms with human-centric workflows, TaskUs helps clients optimize operational efficiency and maintain brand integrity across digital channels.

The company was founded in 2008 by Jaspar Weir and Bryce Maddock with the goal of reimagining traditional outsourcing through a focus on culture, technology and innovation.