Bank of America Upgrades TaskUs (NASDAQ:TASK) to Buy

TaskUs (NASDAQ:TASK - Get Free Report) was upgraded by research analysts at Bank of America from a "neutral" rating to a "buy" rating in a report released on Monday, MarketBeat.com reports. The brokerage currently has a $18.00 target price on the stock. Bank of America's target price would indicate a potential upside of 8.24% from the stock's current price.

A number of other brokerages also recently commented on TASK. Robert W. Baird boosted their target price on shares of TaskUs from $16.00 to $20.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. JPMorgan Chase & Co. reduced 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. Finally, Citigroup increased their target price 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. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, TaskUs presently has a consensus rating of "Hold" and an average price target of $16.43.

TaskUs Stock Up 9.3 %

Shares of TASK traded up $1.41 during trading hours on Monday, hitting $16.63. The company had a trading volume of 284,062 shares, compared to its average volume of 221,219. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $1.49 billion, a PE ratio of 28.85, a price-to-earnings-growth ratio of 3.94 and a beta of 2.31. TaskUs has a one year low of $10.56 and a one year high of $19.60. The company's fifty day moving average price is $13.56 and its two-hundred day moving average price is $13.88.

Institutional Trading of TaskUs

A number of institutional investors have recently bought and sold shares of TASK. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in TaskUs by 55.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,581 shares of the company's stock valued at $74,000 after purchasing an additional 1,988 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of TaskUs in the 2nd quarter valued at $28,000. LSV Asset Management purchased a new position in TaskUs in the 2nd quarter worth $990,000. American Century Companies Inc. lifted its position in TaskUs by 11.4% during the 2nd quarter. American Century Companies Inc. now owns 27,976 shares of the company's stock worth $372,000 after acquiring an additional 2,863 shares during the period. Finally, Dimensional Fund Advisors LP grew 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 valued at $5,224,000 after purchasing an additional 51,935 shares during the last quarter. 44.64% of the stock is currently owned by institutional investors and hedge funds.

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.