TaskUs (NASDAQ:TASK) Upgraded at Bank of America

Bank of America upgraded shares of TaskUs (NASDAQ:TASK) from an underperform rating to a neutral rating in a research note issued to investors on Monday morning, MarketBeat.com reports. The firm currently has $18.00 target price on the stock, up from their prior target price of $12.00.

TASK has been the topic of several other reports. Citigroup boosted their target price on TaskUs from $16.00 to $18.00 and gave the stock a buy rating in a research note on Friday, July 12th. Robert W. Baird boosted 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 11th. Finally, The Goldman Sachs Group started coverage on shares of TaskUs in a research report on Monday, June 24th. They issued a sell rating and a $12.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $14.88.

TaskUs Stock Performance

NASDAQ TASK opened at $16.70 on Monday. The business’s 50 day moving average price is $14.38 and its 200-day moving average price is $13.01. TaskUs has a fifty-two week low of $7.95 and a fifty-two week high of $17.36. The company has a market cap of $1.47 billion, a P/E ratio of 32.75, a P/E/G ratio of 6.34 and a beta of 2.32. The company has a debt-to-equity ratio of 0.56, a quick ratio of 3.36 and a current ratio of 3.36.

TaskUs (NASDAQ:TASK) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. TaskUs had a net margin of 5.23% and a return on equity of 16.61%. The company had revenue of $227.47 million for the quarter, compared to analyst estimates of $223.50 million. Sell-side analysts predict that TaskUs will post 0.83 earnings per share for the current year.

Hedge Funds Weigh In On TaskUs

Hedge funds have recently modified their holdings of the business. Lord Abbett & CO. LLC lifted 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 valued at $8,670,000 after buying an additional 155,751 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of TaskUs by 53.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 107,950 shares of the company’s stock worth $1,258,000 after acquiring an additional 37,505 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of TaskUs during the 4th quarter worth approximately $2,362,000. Quarry LP increased its holdings in TaskUs by 326.6% in the 4th quarter. Quarry LP now owns 4,321 shares of the company’s stock valued at $56,000 after purchasing an additional 3,308 shares during the last quarter. Finally, Olympiad Research LP acquired a new stake in TaskUs in the 4th quarter valued at approximately $185,000. 44.64% of the stock is currently owned by hedge funds and other institutional investors.

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.