TaskUs (NASDAQ:TASK) Shares Gap Up on Analyst Upgrade

TaskUs, Inc. (NASDAQ:TASK - Get Free Report) gapped up prior to trading on Friday after Robert W. Baird raised their price target on the stock from $16.00 to $20.00. The stock had previously closed at $15.55, but opened at $16.74. Robert W. Baird currently has an outperform rating on the stock. TaskUs shares last traded at $17.46, with a volume of 113,182 shares changing hands.

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

Institutional Trading of TaskUs

Hedge funds and other institutional investors have recently modified their holdings of the business. nVerses Capital LLC purchased a new stake in TaskUs in the 2nd quarter worth about $28,000. US Bancorp DE increased its holdings in shares of TaskUs by 101.2% in the 3rd quarter. US Bancorp DE now owns 5,001 shares of the company's stock valued at $65,000 after purchasing an additional 2,516 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of 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 in the last quarter. CWM LLC boosted its holdings in shares of TaskUs by 25,053.3% during 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 period. Finally, Olympiad Research LP acquired a new stake in shares of TaskUs during the third quarter worth approximately $143,000. Institutional investors and hedge funds own 44.64% of the company's stock.

TaskUs Trading Up 21.8 %

The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.23 and a current ratio of 3.23. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 31.75, a price-to-earnings-growth ratio of 3.87 and a beta of 2.28. The company's 50 day simple moving average is $12.58 and its two-hundred day simple moving average is $13.58.

TaskUs (NASDAQ:TASK - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.20 earnings per share for the quarter, hitting analysts' consensus estimates of $0.20. The business had revenue of $237.93 million for the quarter, compared to the consensus estimate of $231.15 million. TaskUs had a net margin of 5.44% and a return on equity of 16.93%. Research analysts expect that TaskUs, Inc. will post 0.87 EPS for the current fiscal year.

About TaskUs

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.