TaskUs (NASDAQ:TASK) Stock Rating Raised to Buy at Wall Street Zen

Wall Street Zen upgraded shares of TaskUs (NASDAQ:TASK) from a hold rating to a buy rating in a research note published on Saturday morning,Wall Street Zen reports.

Other equities research analysts have also recently issued reports about the stock. Weiss Ratings raised shares of TaskUs from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, October 19th. Robert W. Baird set a $12.00 target price on TaskUs in a report on Thursday, August 6th. Wedbush dropped their target price on TaskUs from $12.00 to $9.00 and set an “outperform” rating on the stock in a report on Thursday, August 6th. Finally, Morgan Stanley raised their price target on TaskUs from $6.00 to $7.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $9.60.

TaskUs Stock Performance

Shares of TaskUs stock opened at $8.56 on Friday. The business has a 50-day simple moving average of $8.09 and a 200-day simple moving average of $6.74. The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.95 and a current ratio of 2.95. TaskUs has a one year low of $4.47 and a one year high of $14.35. The company has a market cap of $784.84 million, a PE ratio of 7.38 and a beta of 1.83.

TaskUs (NASDAQ:TASK) last issued its earnings results on Wednesday, August 5th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.05. TaskUs had a net margin of 8.75% and a return on equity of 27.02%. The firm had revenue of $308.86 million for the quarter, compared to analysts’ expectations of $297.58 million. On average, equities research analysts forecast that TaskUs will post 1.10 EPS for the current fiscal year.

Hedge Funds Weigh In On TaskUs

Several hedge funds have recently made changes to their positions in the company. Squarepoint Ops LLC purchased a new stake in TaskUs in the 2nd quarter valued at $148,000. Alamar Capital Management LLC acquired a new stake in shares of TaskUs during the second quarter worth about $80,000. Bank of America Corp DE grew its holdings in shares of TaskUs by 2,573.2% during the first quarter. Bank of America Corp DE now owns 106,475 shares of the company’s stock worth $714,000 after buying an additional 102,492 shares during the last quarter. Saba Capital Management L.P. purchased a new position in shares of TaskUs during the first quarter worth about $14,016,000. Finally, Renaissance Technologies LLC purchased a new position in shares of TaskUs during the first quarter worth about $242,000. Hedge funds and other institutional investors own 44.64% of the company’s stock.

TaskUs Company Profile

TaskUs, Inc (NASDAQ: TASK) is a provider of digital outsourcing and customer experience services for technology companies and other high-growth businesses. The company helps clients manage customer interactions, back-office operations and other business processes through a combination of trained personnel, technology and data-driven workflows.

Its services include customer care, technical support, content moderation, trust and safety, fraud prevention, artificial intelligence operations and back-office support.