TaskUs (NASDAQ:TASK) Upgraded to “Neutral” 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 published on Monday, Marketbeat reports. They currently have $18.00 price objective on the stock, up from their prior price objective of $12.00.

Several other brokerages have also recently commented on TASK. The Goldman Sachs Group initiated coverage on shares of TaskUs in a research note on Monday, June 24th. They set a sell rating and a $12.00 price objective for the company. Citigroup raised their price target on shares of TaskUs from $16.00 to $18.00 and gave the company a buy rating in a report on Friday, July 12th. Finally, Robert W. Baird upped their price target on shares of TaskUs from $14.00 to $16.00 and gave the stock an outperform rating in a report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $14.88.

TaskUs Trading Down 0.1 %

NASDAQ:TASK opened at $16.68 on Monday. The company has a market cap of $1.47 billion, a P/E ratio of 32.71, a P/E/G ratio of 6.32 and a beta of 2.32. TaskUs has a 1 year low of $7.95 and a 1 year high of $17.36. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.36 and a quick ratio of 3.36. The stock’s fifty day moving average price is $14.40 and its two-hundred day moving average price is $13.04.

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

Hedge Funds Weigh In On TaskUs

Institutional investors have recently made changes to their positions in the stock. Quarry LP grew its position in TaskUs by 326.6% in the fourth quarter. Quarry LP now owns 4,321 shares of the company’s stock worth $56,000 after acquiring an additional 3,308 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in TaskUs during the fourth quarter worth about $64,000. Olympiad Research LP purchased a new position in shares of TaskUs in the 4th quarter worth about $185,000. Janney Montgomery Scott LLC increased its position in shares of TaskUs by 53.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 107,950 shares of the company’s stock valued at $1,258,000 after purchasing an additional 37,505 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of TaskUs by 145.3% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 120,920 shares of the company’s stock valued at $1,409,000 after buying an additional 71,621 shares in the last quarter. Institutional investors 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.