TaskUs (NASDAQ:TASK) Downgraded to Buy Rating by Wall Street Zen

TaskUs (NASDAQ:TASK) was downgraded by analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Saturday.

TASK has been the topic of several other reports. Piper Sandler downgraded TaskUs to a “neutral” rating in a research report on Friday, February 27th. Morgan Stanley decreased their price objective on TaskUs from $16.50 to $12.00 and set an “equal weight” rating on the stock in a research note on Friday, February 27th. Zacks Research cut TaskUs from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 7th. The Goldman Sachs Group upgraded TaskUs to a “strong sell” rating in a research note on Monday, November 10th. Finally, Wedbush began coverage on shares of TaskUs in a report on Tuesday, February 3rd. They issued an “outperform” rating and a $15.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $14.50.

TaskUs Trading Down 4.2%

NASDAQ:TASK opened at $10.92 on Friday. The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt-to-equity ratio of 0.40. TaskUs has a 12 month low of $9.55 and a 12 month high of $18.39. The company has a market cap of $987.39 million, a PE ratio of 9.84 and a beta of 2.11. The company has a 50 day simple moving average of $11.02 and a two-hundred day simple moving average of $13.21.

TaskUs (NASDAQ:TASK) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.04. TaskUs had a return on equity of 23.10% and a net margin of 8.64%.The firm had revenue of $312.96 million for the quarter, compared to analysts’ expectations of $303.68 million. Research analysts forecast that TaskUs will post 0.9 earnings per share for the current year.

Hedge Funds Weigh In On TaskUs

A number of hedge funds have recently made changes to their positions in the business. Hudson Bay Capital Management LP purchased a new stake in shares of TaskUs during the third quarter worth about $17,796,000. Qube Research & Technologies Ltd purchased a new position in TaskUs in the 2nd quarter worth approximately $16,325,000. Irenic Capital Management LP bought a new position in TaskUs in the 4th quarter worth approximately $11,253,000. Dalton Investments Inc. bought a new position in shares of TaskUs during the 4th quarter valued at about $11,174,000. Finally, Calamos Advisors LLC purchased a new position in shares of TaskUs during the fourth quarter valued at about $8,549,000. Institutional investors own 44.64% of the company’s stock.

About TaskUs

TaskUs, Inc is a leading provider of outsourced digital customer experience and business process solutions, specializing in high-touch services for technology and digital-native companies. The firm delivers a range of offerings including customer care, content moderation, trust and safety monitoring, back-office processing and AI operations support. By combining technology-driven platforms with human-centric workflows, TaskUs helps clients optimize operational efficiency and maintain brand integrity across digital channels.

The company was founded in 2008 by Jaspar Weir and Bryce Maddock with the goal of reimagining traditional outsourcing through a focus on culture, technology and innovation.