TaskUs, Inc. (NASDAQ:TASK) Given Consensus Recommendation of “Hold” by Brokerages

Shares of TaskUs, Inc. (NASDAQ:TASK) have been assigned a consensus rating of “Hold” from the eight analysts that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $15.38.

A number of equities analysts have recently commented on the company. Citigroup boosted their price objective on TaskUs from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Robert W. Baird increased their price objective on shares of TaskUs from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Thursday, July 11th. Bank of America raised shares of TaskUs from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $12.00 to $18.00 in a research report on Monday, July 22nd. JPMorgan Chase & Co. dropped their target price on TaskUs from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Finally, The Goldman Sachs Group began coverage on TaskUs in a report on Monday, June 24th. They set a “sell” rating and a $12.00 price target for the company.

TaskUs Price Performance

TaskUs stock opened at $12.63 on Monday. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 0.54. TaskUs has a 52-week low of $7.95 and a 52-week high of $17.97. The firm has a market cap of $1.11 billion, a PE ratio of 24.76, a price-to-earnings-growth ratio of 3.49 and a beta of 2.29. The company’s 50 day moving average is $14.36 and its two-hundred day moving average is $13.40.

TaskUs (NASDAQ:TASK) last released its earnings results on Thursday, August 8th. The company reported $0.20 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.20. TaskUs had a return on equity of 16.93% and a net margin of 5.44%. The firm had revenue of $237.93 million during the quarter, compared to analyst estimates of $231.15 million. On average, research analysts expect that TaskUs will post 0.84 EPS for the current fiscal year.

Institutional Investors Weigh In On TaskUs

Institutional investors and hedge funds have recently bought and sold shares of the stock. Lord Abbett & CO. LLC lifted its stake in TaskUs by 26.5% in the first quarter. Lord Abbett & CO. LLC now owns 744,222 shares of the company’s stock valued at $8,670,000 after buying an additional 155,751 shares during the last quarter. Dalton Investments Inc. increased its holdings in shares of TaskUs by 2.5% in the 2nd quarter. Dalton Investments Inc. now owns 636,458 shares of the company’s stock valued at $8,471,000 after acquiring an additional 15,300 shares during the period. Renaissance Technologies LLC raised its position in TaskUs by 12.8% in the 2nd quarter. Renaissance Technologies LLC now owns 440,523 shares of the company’s stock valued at $5,863,000 after purchasing an additional 50,000 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in TaskUs by 15.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 392,504 shares of the company’s stock worth $5,224,000 after purchasing an additional 51,935 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its position in TaskUs by 145.3% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 120,920 shares of the company’s stock worth $1,409,000 after purchasing an additional 71,621 shares during the last quarter. 44.64% of the stock is owned by hedge funds and other 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.