Morgan Stanley Upgrades TaskUs (NASDAQ:TASK) to Overweight

TaskUs (NASDAQ:TASK - Get Free Report) was upgraded by Morgan Stanley from an "equal weight" rating to an "overweight" rating in a research note issued to investors on Friday, MarketBeat.com reports. The firm currently has a $21.00 price target on the stock, up from their prior price target of $18.00. Morgan Stanley's price objective would indicate a potential upside of 13.76% from the stock's previous close.

A number of other research firms have also weighed in on TASK. Robert W. Baird increased their price target on TaskUs from $16.00 to $20.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. JPMorgan Chase & Co. decreased their target price on shares of TaskUs from $17.00 to $15.00 and set a "neutral" rating for the company in a report on Friday, September 6th. Finally, Bank of America upgraded shares of TaskUs from a "neutral" rating to a "buy" rating and set a $18.00 price target on the stock in a report on Monday. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $17.00.

TaskUs Price Performance

Shares of TASK traded up $2.49 during trading hours on Friday, hitting $18.46. 929,138 shares of the company were exchanged, compared to its average volume of 223,569. The firm has a fifty day simple moving average of $13.87 and a 200-day simple moving average of $13.94. The company has a market capitalization of $1.65 billion, a PE ratio of 30.37, a PEG ratio of 4.23 and a beta of 2.31. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.02 and a quick ratio of 3.02. TaskUs has a one year low of $10.56 and a one year high of $19.60.

Institutional Investors Weigh In On TaskUs

A number of institutional investors have recently modified their holdings of TASK. nVerses Capital LLC acquired a new position in shares of TaskUs in the second quarter worth $28,000. US Bancorp DE increased its position 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 purchasing an additional 2,516 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of TaskUs by 55.3% during the 2nd 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 lifted its holdings in shares of TaskUs by 25,053.3% during the 3rd quarter. CWM LLC now owns 7,546 shares of the company's stock valued at $97,000 after buying an additional 7,516 shares during the last quarter. Finally, Quantbot Technologies LP grew its stake in shares of TaskUs by 186.7% in the 3rd quarter. Quantbot Technologies LP now owns 9,428 shares of the company's stock valued at $122,000 after buying an additional 6,140 shares in the last quarter. Institutional investors and hedge funds own 44.64% of the company's stock.

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.