Wall Street Zen Downgrades TaskUs (NASDAQ:TASK) to Hold

TaskUs (NASDAQ:TASK) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday, Wall Street Zen reports.

A number of other research analysts have also weighed in on the company. Wedbush cut their price objective on TaskUs from $12.00 to $9.00 and set an “outperform” rating for the company in a research report on Thursday, August 6th. Morgan Stanley boosted their target price on TaskUs from $6.00 to $7.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 11th. Weiss Ratings raised TaskUs from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, September 24th. Finally, Robert W. Baird set a $12.00 price target on TaskUs in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $9.60.

TaskUs Price Performance

Shares of NASDAQ:TASK opened at $8.06 on Friday. The company has a quick ratio of 2.95, a current ratio of 2.95 and a debt-to-equity ratio of 1.56. The stock has a market capitalization of $739.02 million, a PE ratio of 6.95 and a beta of 1.83. The firm’s 50 day moving average price is $7.63 and its 200-day moving average price is $6.78. TaskUs has a twelve month low of $4.47 and a twelve month high of $17.54.

TaskUs (NASDAQ:TASK) last released its earnings results on Wednesday, August 5th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.05. The company had revenue of $308.86 million for the quarter, compared to the consensus estimate of $297.58 million. TaskUs had a return on equity of 27.02% and a net margin of 8.75%. Equities research analysts expect that TaskUs will post 1.1 EPS for the current year.

Institutional Trading of TaskUs

Institutional investors and hedge funds have recently modified their holdings of the stock. Saba Capital Management L.P. bought a new position in shares of TaskUs during the first quarter valued at approximately $14,016,000. Bank of America Corp DE lifted its holdings in TaskUs by 2,573.2% during the first quarter. Bank of America Corp DE now owns 106,475 shares of the company’s stock worth $714,000 after buying an additional 102,492 shares during the period. Dimensional Fund Advisors LP boosted its position in TaskUs by 12.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 678,859 shares of the company’s stock valued at $4,554,000 after acquiring an additional 77,072 shares in the last quarter. Irenic Capital Management LP bought a new stake in TaskUs during the 4th quarter valued at $11,253,000. Finally, Dalton Investments Inc. purchased a new position in shares of TaskUs in the 4th quarter valued at $11,174,000. Institutional investors own 44.64% of the company’s stock.

About TaskUs

TaskUs, Inc is a global provider of outsourced digital services and business-process solutions. The company helps technology, consumer, and other digitally focused businesses manage customer experience, technical support, content moderation, trust and safety, and back-office operations.

Its services also include artificial intelligence and data operations, including data annotation and model-support services, as well as risk and response solutions designed to help clients address fraud, abuse, and other online safety challenges.