TaskUs, Inc. (NASDAQ:TASK) Short Interest Update

TaskUs, Inc. (NASDAQ:TASK) saw a significant decrease in short interest in the month of August. As of August 14th, there was short interest totaling 2,286,112 shares, a decrease of 43.4% from the July 30th total of 4,036,547 shares. Based on an average daily trading volume, of 966,022 shares, the days-to-cover ratio is presently 2.4 days. Currently, 3.7% of the company’s shares are short sold.

Analysts Set New Price Targets

Several equities research analysts recently commented on TASK shares. Wall Street Zen downgraded shares of TaskUs from a “buy” rating to a “hold” rating in a research report on Monday, May 11th. Robert W. Baird set a $12.00 price target on shares of TaskUs in a research report on Thursday, August 6th. Morgan Stanley raised their price target 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. Wedbush cut their price target on shares of TaskUs from $12.00 to $9.00 and set an “outperform” rating on the stock in a report on Thursday, August 6th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of TaskUs in a research note on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $9.60.

TaskUs Price Performance

Shares of TASK opened at $8.39 on Friday. The business has a 50-day moving average of $6.23 and a 200-day moving average of $7.22. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.95 and a quick ratio of 2.95. The company has a market capitalization of $769.28 million, a price-to-earnings ratio of 7.23 and a beta of 1.87. TaskUs has a 1 year low of $4.47 and a 1 year high of $18.39.

TaskUs (NASDAQ:TASK) last released its earnings results on Wednesday, August 5th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. The business had revenue of $308.86 million during the quarter, compared to the consensus estimate of $297.58 million. TaskUs had a net margin of 8.75% and a return on equity of 27.02%. As a group, equities research analysts anticipate that TaskUs will post 1.12 earnings per share for the current year.

Hedge Funds Weigh In On TaskUs

Several hedge funds and other institutional investors have recently bought and sold shares of TASK. Goldman Sachs Group Inc. boosted its position in TaskUs by 11.9% during the first quarter. Goldman Sachs Group Inc. now owns 183,889 shares of the company’s stock valued at $2,506,000 after acquiring an additional 19,495 shares during the last quarter. Geode Capital Management LLC raised its position in shares of TaskUs by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 205,442 shares of the company’s stock worth $3,444,000 after acquiring an additional 647 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of TaskUs by 182.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 209,998 shares of the company’s stock valued at $3,520,000 after purchasing an additional 135,691 shares during the period. American Century Companies Inc. lifted its stake in shares of TaskUs by 4.9% in the 2nd quarter. American Century Companies Inc. now owns 43,404 shares of the company’s stock valued at $727,000 after purchasing an additional 2,045 shares during the period. Finally, New York State Common Retirement Fund bought a new stake in shares of TaskUs during the 2nd quarter valued at about $67,000. Institutional investors and hedge funds own 44.64% of the company’s stock.

TaskUs Company Profile

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.