TaskUs (NASDAQ:TASK) Upgraded 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,Wall Street Zen reports.

A number of other brokerages have also weighed in on TASK. Morgan Stanley increased their price target on TaskUs from $6.00 to $7.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 11th. Wedbush lowered their price objective on TaskUs from $12.00 to $9.00 and set an “outperform” rating for the company in a research report on Thursday, August 6th. Robert W. Baird set a $12.00 target price on TaskUs in a research note on Thursday, August 6th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of TaskUs in a research report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $9.60.

TaskUs Trading Up 6.5%

Shares of TASK stock opened at $8.65 on Friday. The company has a market capitalization of $793.12 million, a price-to-earnings ratio of 7.46 and a beta of 1.75. The company has a current ratio of 2.95, a quick ratio of 2.95 and a debt-to-equity ratio of 1.56. The firm has a 50-day moving average price of $7.19 and a 200 day moving average price of $6.93. TaskUs has a twelve month low of $4.47 and a twelve month high of $18.08.

TaskUs (NASDAQ:TASK) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.05. The company had revenue of $308.86 million for the quarter, compared to analysts’ expectations of $297.58 million. TaskUs had a net margin of 8.75% and a return on equity of 27.02%. Research analysts forecast that TaskUs will post 1.12 earnings per share for the current fiscal year.

Institutional Trading of TaskUs

Institutional investors have recently made changes to their positions in the stock. Allworth Financial LP raised its position in shares of TaskUs by 9,224.0% in the 4th quarter. Allworth Financial LP now owns 2,331 shares of the company’s stock worth $27,000 after buying an additional 2,306 shares during the period. Alamar Capital Management LLC purchased a new stake in TaskUs during the second quarter valued at about $80,000. Squarepoint Ops LLC purchased a new stake in TaskUs during the second quarter valued at about $148,000. Renaissance Technologies LLC acquired a new stake in TaskUs during the first quarter worth about $242,000. Finally, Watershed Asset Management L.L.C. increased its stake in TaskUs by 19.5% during the first quarter. Watershed Asset Management L.L.C. now owns 46,422 shares of the company’s stock worth $311,000 after acquiring an additional 7,589 shares during the last quarter. 44.64% of the stock is owned by hedge funds and other institutional investors.

TaskUs Company Profile

TaskUs, Inc is a provider of outsourced digital services and customer experience solutions for companies operating in the technology, social media, gaming, retail, e-commerce, financial technology and healthcare sectors. The company helps clients manage customer interactions and other business processes through a combination of human expertise, technology and data-driven operations.

Its services include customer care, content moderation, trust and safety, fraud and risk management, back-office support, artificial intelligence operations and digital consulting.