TaskUs (NASDAQ:TASK) Trading Up 1.7% – Here’s What Happened

TaskUs, Inc. (NASDAQ:TASK)’s stock price was up 1.7% during mid-day trading on Thursday . The company traded as high as $5.35 and last traded at $5.27. 379,299 shares were traded during mid-day trading, a decline of 35% from the average session volume of 587,604 shares. The stock had previously closed at $5.18.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Morgan Stanley set a $6.00 price target on TaskUs in a report on Friday, May 8th. Wall Street Zen cut TaskUs from a “buy” rating to a “hold” rating in a research note on Monday, May 11th. The Goldman Sachs Group cut their target price on shares of TaskUs from $10.00 to $7.00 and set a “sell” rating on the stock in a research note on Thursday, May 7th. Weiss Ratings cut shares of TaskUs from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, April 16th. Finally, Wedbush decreased their price target on shares of TaskUs from $14.00 to $12.00 and set an “outperform” rating for the company in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $11.20.

TaskUs Stock Up 2.7%

The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 1.73. The stock has a market cap of $495.45 million, a PE ratio of 4.75 and a beta of 1.89. The firm has a fifty day moving average of $5.60 and a 200 day moving average of $8.35.

TaskUs (NASDAQ:TASK) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. TaskUs had a return on equity of 24.93% and a net margin of 8.70%.The company had revenue of $306.27 million during the quarter, compared to the consensus estimate of $296.68 million. On average, equities research analysts anticipate that TaskUs, Inc. will post 1.1 EPS for the current fiscal year.

Hedge Funds Weigh In On TaskUs

Several hedge funds have recently made changes to their positions in TASK. Bank of America Corp DE grew its stake in shares of TaskUs by 2,573.2% in the 1st quarter. Bank of America Corp DE now owns 106,475 shares of the company’s stock valued at $714,000 after purchasing an additional 102,492 shares during the last quarter. Saba Capital Management L.P. acquired a new position in TaskUs during the first quarter worth about $14,016,000. Renaissance Technologies LLC purchased a new position in TaskUs in the 1st quarter valued at approximately $242,000. Alamar Capital Management LLC purchased a new position in shares of TaskUs in the first quarter valued at $114,000. Finally, First Trust Advisors LP increased its holdings in TaskUs by 4.2% during the 1st quarter. First Trust Advisors LP now owns 69,189 shares of the company’s stock valued at $464,000 after acquiring an additional 2,805 shares in the last quarter. Hedge funds and other institutional investors own 44.64% of the company’s stock.

TaskUs Company Profile

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.