TaskUs, Inc. (NASDAQ:TASK) Short Interest Update

TaskUs, Inc. (NASDAQ:TASK – Get Rating) was the recipient of a large decrease in short interest during the month of April. As of April 15th, there was short interest totalling 1,370,000 shares, a decrease of 18.5% from the March 31st total of 1,680,000 shares. Based on an average trading volume of 648,900 shares, the days-to-cover ratio is currently 2.1 days.

Shares of NASDAQ TASK opened at $28.79 on Tuesday. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.49. TaskUs has a 52 week low of $25.12 and a 52 week high of $85.49. The stock has a fifty day moving average of $34.59.

TaskUs (NASDAQ:TASK – Get Rating) last released its quarterly earnings data on Monday, February 28th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.06. The business had revenue of $226.76 million during the quarter, compared to analyst estimates of $215.99 million. During the same period last year, the business earned $0.22 earnings per share. The business’s quarterly revenue was up 63.4% compared to the same quarter last year. As a group, equities analysts anticipate that TaskUs will post 0.63 EPS for the current year.

Several equities research analysts have recently commented on TASK shares. The Goldman Sachs Group cut their price objective on TaskUs from $77.00 to $66.00 and set a “buy” rating for the company in a report on Tuesday, March 1st. Zacks Investment Research downgraded TaskUs from a “buy” rating to a “hold” rating in a report on Friday, March 11th. Royal Bank of Canada cut their price target on TaskUs from $62.00 to $46.00 and set an “outperform” rating for the company in a report on Tuesday, March 1st. Bank of America raised TaskUs from a “neutral” rating to a “buy” rating and set a $71.00 price target for the company in a report on Thursday, January 6th. Finally, Wells Fargo & Company began coverage on TaskUs in a report on Monday, April 4th. They set an “equal weight” rating and a $42.00 price target for the company. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, TaskUs has a consensus rating of “Buy” and a consensus target price of $51.56.

A number of hedge funds have recently modified their holdings of TASK. Fifth Third Bancorp bought a new stake in shares of TaskUs during the first quarter valued at approximately $30,000. Icapital Wealth LLC bought a new stake in TaskUs during the first quarter worth $55,000. Citigroup Inc. bought a new stake in TaskUs during the fourth quarter worth $77,000. Advisor Group Holdings Inc. boosted its position in TaskUs by 429.4% in the third quarter. Advisor Group Holdings Inc. now owns 1,403 shares of the company’s stock worth $93,000 after purchasing an additional 1,138 shares during the last quarter. Finally, Lindbrook Capital LLC purchased a new position in TaskUs in the fourth quarter worth $102,000. Institutional investors and hedge funds own 76.08% of the company’s stock.

TaskUs Company Profile (Get Rating)

TaskUs, Inc provides digital outsourcing services for companies worldwide. It offers digital customer experience that consists of omni-channel customer care services primarily delivered through digital channels; and other solutions, including customer care services for new product or market launches, trust and safety solutions, and customer acquisition solutions.

Recommended Stories