TaskUs (NASDAQ:TASK) Raised to Neutral at Bank of America

TaskUs (NASDAQ:TASK – Get Free Report) was raised by analysts at Bank of America from an “underperform” rating to a “neutral” rating in a research note issued on Monday, Marketbeat reports. The brokerage currently has a price target of $18.00 on the stock, up from its previous target price of $12.00. Bank of America’s price target suggests a potential upside of 7.33% from the current stock price.

TASK has been the subject of several other reports. Robert W. Baird raised their price target on TaskUs from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Thursday, July 11. Goldman Sachs Group initiated coverage on TaskUs in a research report on Monday, June 24. They set a “sell” rating and a $12.00 price target for the company. Finally, Citigroup raised their price target on TaskUs from $16.00 to $18.00 and gave the company a “buy” rating in a report on Friday, July 12. One analyst rated the stock a sell, five rated it a hold, and two gave the stock a buy rating. The company currently has a consensus rating of “hold” and a consensus price target of $14.88 according to MarketBeat.com.

Check out our latest report on TaskUs

TaskUs turnover up 3.8%

Shares of NASDAQ:TASK opened at $16.77 on Monday. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 32.88, a price-to-earnings-growth ratio of 6.06 and a beta of 2.32. The company’s 50 day moving average price is $14.24, and its 200 day moving average is $12.92. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.36 and a current liquidity ratio of 3.36. TaskUs has a one-year low of $7.95 and a one-year high of $16.77.

TaskUs (NASDAQ:TASK – Get Free Report) last released its quarterly earnings data on Wednesday, May 8. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.02. The company had revenue of $227.47 million for the quarter, compared to the consensus estimate of $223.50 million. TaskUs had a net margin of 5.23% and a return on equity of 16.61%. Equity research analysts, on average, forecast that TaskUs will post 0.83 earnings per share for the current fiscal year.

Institutional Trading TaskUs

Large investors have recently added to or reduced their holdings in the stock. Jacobs Levy Equity Management Inc. increased its position in TaskUs by 145.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 120,920 shares of the company’s stock worth $1,409,000 after purchasing an additional 71,621 shares during the period. Lord Abbett & CO. LLC increased its position in TaskUs by 26.5% in the first quarter. Lord Abbett & CO. LLC now owns 744,222 shares of the company’s stock worth $8,670,000 after purchasing an additional 155,751 shares in the last quarter. Janney Montgomery Scott LLC increased its position in TaskUs by 53.2% in the first quarter. Janney Montgomery Scott LLC now owns 107,950 shares of the company’s stock valued at $1,258,000 after acquiring an additional 37,505 shares during the last quarter. Quarry LP increased its holdings in TaskUs shares by 326.6% in the fourth quarter. Quarry LP now owns 4,321 shares of the company’s stock valued at $56,000 after acquiring an additional 3,308 shares during the period. Finally, Olympiad Research LP acquired a new position in TaskUs shares in the fourth quarter valued at approximately $185,000. 44.64% of the stock is currently held by hedge funds and other institutional investors.

TaskUs Company Profile

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TaskUs, Inc. provides digital outsourcing services to companies in the Philippines, the United States, India, and internationally. It offers a digital customer experience that consists of multi-channel customer service services, delivered primarily through non-voice digital channels; and other solutions, including customer service and experience services for new products or launches, and customer acquisition solutions.

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