TaskUs (NASDAQ:TASK) Sets New 12-Month High Following Analyst Upgrade

TaskUs, Inc. (NASDAQ:TASK - Get Free Report)'s stock price hit a new 52-week high during mid-day trading 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 traded. The stock had previously closed at $18.94.

TASK has been the subject of several other reports. Royal Bank of Canada upped their target price on shares of TaskUs from $17.00 to $18.00 and gave the stock a "sector perform" rating in a research report on Friday, August 9th. Citigroup upped their price target on shares of TaskUs from $18.00 to $19.00 and gave the company a "buy" rating in a research report on Monday, August 12th. JPMorgan Chase & Co. cut their price target on shares of TaskUs from $17.00 to $15.00 and set a "neutral" rating for the company in a research report on Friday, September 6th. Finally, Bank of America upgraded shares of TaskUs from an "underperform" rating to a "neutral" rating and upped their price target for the company from $12.00 to $18.00 in a research report on Monday, July 22nd. One 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. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $16.43.

Hedge Funds Weigh In On TaskUs

Hedge funds and other institutional investors have recently modified their holdings of the company. nVerses Capital LLC purchased a new stake in TaskUs in the second quarter worth approximately $28,000. US Bancorp DE boosted its holdings in TaskUs by 101.2% in the third quarter. US Bancorp DE now owns 5,001 shares of the company's stock worth $65,000 after purchasing an additional 2,516 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in TaskUs by 55.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,581 shares of the company's stock worth $74,000 after purchasing an additional 1,988 shares during the last quarter. CWM LLC boosted its holdings in TaskUs by 25,053.3% in the third quarter. CWM LLC now owns 7,546 shares of the company's stock worth $97,000 after purchasing an additional 7,516 shares during the last quarter. Finally, Olympiad Research LP purchased a new stake in TaskUs in the third quarter worth approximately $143,000. 44.64% of the stock is owned by institutional investors.

TaskUs Stock Down 18.6 %

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 firm has a market capitalization of $1.37 billion, a P/E ratio of 26.14, a P/E/G ratio of 4.99 and a beta of 2.28. The company's 50-day simple moving average is $12.70 and its two-hundred day simple moving average is $13.67.

TaskUs (NASDAQ:TASK - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.20 earnings per share for the quarter, hitting the consensus estimate of $0.20. TaskUs had a net margin of 5.58% and a return on equity of 18.10%. The business had revenue of $237.93 million for the quarter, compared to the consensus estimate of $231.15 million. As a group, research analysts expect that TaskUs, Inc. will post 0.87 earnings per share for the current year.

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.