TaskUs (NASDAQ:TASK) Downgraded to “Equal Weight” Rating by Morgan Stanley

Morgan Stanley lowered shares of TaskUs (NASDAQ:TASK) from an overweight rating to an equal weight rating in a research note released on Tuesday morning, Marketbeat.com reports. The firm currently has $16.50 target price on the stock, down from their previous target price of $21.00.

A number of other analysts have also issued reports on the company. Baird R W lowered TaskUs from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 12th. Robert W. Baird lowered TaskUs from an “outperform” rating to a “neutral” rating and set a $16.50 price objective on the stock. in a report on Monday, May 12th. Zacks Research raised shares of TaskUs from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 20th. Finally, Royal Bank Of Canada reduced their target price on shares of TaskUs from $20.00 to $16.50 and set a “sector perform” rating for the company in a research report on Monday, May 12th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $16.88.

TaskUs Trading Down 3.6%

TASK stock opened at $17.56 on Tuesday. The company has a current ratio of 2.84, a quick ratio of 2.84 and a debt-to-equity ratio of 0.42. TaskUs has a 12-month low of $10.57 and a 12-month high of $19.60. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 25.45 and a beta of 2.16. The business’s 50-day moving average is $17.21 and its 200 day moving average is $15.62.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its holdings in shares of TaskUs by 0.3% in the second quarter. Geode Capital Management LLC now owns 205,442 shares of the company’s stock valued at $3,444,000 after purchasing an additional 647 shares during the period. First Trust Advisors LP raised its stake in TaskUs by 1.3% during the second quarter. First Trust Advisors LP now owns 54,531 shares of the company’s stock worth $914,000 after purchasing an additional 716 shares during the period. Lazard Asset Management LLC boosted its holdings in TaskUs by 9.6% in the 4th quarter. Lazard Asset Management LLC now owns 9,972 shares of the company’s stock valued at $167,000 after purchasing an additional 873 shares during the last quarter. Swiss National Bank boosted its holdings in TaskUs by 6.1% in the 2nd quarter. Swiss National Bank now owns 34,700 shares of the company’s stock valued at $582,000 after purchasing an additional 2,000 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of TaskUs by 4.9% in the 2nd quarter. American Century Companies Inc. now owns 43,404 shares of the company’s stock valued at $727,000 after buying an additional 2,045 shares during the period. Hedge funds and other 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.