TaskUs (NASDAQ:TASK) Hits New 52-Week High on Analyst Upgrade

TaskUs, Inc. (NASDAQ:TASK) shares hit a new 52-week high on Monday after Robert W. Baird raised their price target on the stock from $16.00 to $20.00. Robert W. Baird currently has an outperform rating on the stock. TaskUs traded as high as $19.97 and last traded at $19.97, with a volume of 1480 shares trading hands. The stock had previously closed at $18.94.

Several other equities analysts have also weighed in on the company. Bank of America raised TaskUs from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $12.00 to $18.00 in a research note on Monday, July 22nd. JPMorgan Chase & Co. decreased their price objective on shares of TaskUs from $17.00 to $15.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Royal Bank of Canada raised their target price on shares of TaskUs from $17.00 to $18.00 and gave the company a “sector perform” rating in a research note on Friday, August 9th. Finally, Citigroup lifted their target price on shares of TaskUs from $18.00 to $19.00 and gave the company a “buy” rating in a report on Monday, August 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $16.43.

Institutional Trading of TaskUs

A number of hedge funds have recently made changes to their positions in the company. nVerses Capital LLC purchased a new position in shares of TaskUs in the second quarter valued at $28,000. US Bancorp DE lifted its holdings in TaskUs by 101.2% in the 3rd quarter. US Bancorp DE now owns 5,001 shares of the company’s stock worth $65,000 after buying an additional 2,516 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in TaskUs by 55.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,581 shares of the company’s stock worth $74,000 after buying an additional 1,988 shares in the last quarter. CWM LLC grew its stake in shares of TaskUs by 25,053.3% during the third quarter. CWM LLC now owns 7,546 shares of the company’s stock valued at $97,000 after acquiring an additional 7,516 shares in the last quarter. Finally, Olympiad Research LP acquired a new stake in shares of TaskUs during the third quarter valued at about $143,000. Hedge funds and other institutional investors own 44.64% of the company’s stock.

TaskUs Stock Performance

The firm has a market capitalization of $1.30 billion, a PE ratio of 26.12, a price-to-earnings-growth ratio of 4.99 and a beta of 2.28. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.23 and a quick ratio of 3.23. The stock has a 50-day moving average price of $12.74 and a 200-day moving average price of $13.70.

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.