TaskUs (NASDAQ:TASK) Coverage Initiated by Analysts at Wedbush

Wedbush assumed coverage on shares of TaskUs (NASDAQ:TASK) in a research report report published on Tuesday morning, MarketBeat.com reports. The brokerage issued an outperform rating and a $15.00 price target on the stock.

Other equities analysts also recently issued reports about the stock. Royal Bank Of Canada increased their target price on shares of TaskUs from $16.50 to $17.00 and gave the stock a “sector perform” rating in a research report on Monday, November 10th. Wall Street Zen raised TaskUs to a “strong-buy” rating in a report on Saturday, January 17th. Robert W. Baird upgraded TaskUs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of TaskUs in a research report on Wednesday, October 8th. Finally, Zacks Research lowered shares of TaskUs from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $16.63.

TaskUs Trading Down 3.4%

Shares of NASDAQ TASK opened at $10.73 on Tuesday. The stock has a market cap of $970.21 million, a price-to-earnings ratio of 12.06 and a beta of 2.12. The business has a 50 day simple moving average of $11.59 and a 200 day simple moving average of $14.22. TaskUs has a 52 week low of $10.58 and a 52 week high of $18.59. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.89 and a current ratio of 2.89.

TaskUs (NASDAQ:TASK) last issued its quarterly earnings data on Friday, November 7th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.06. The firm had revenue of $298.71 million for the quarter, compared to analyst estimates of $286.71 million. TaskUs had a net margin of 7.11% and a return on equity of 21.27%. On average, research analysts predict that TaskUs will post 0.9 earnings per share for the current fiscal year.

Institutional Trading of TaskUs

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Strategic Advocates LLC bought a new position in TaskUs during the third quarter valued at about $41,000. FNY Investment Advisers LLC boosted its position in shares of TaskUs by 40.0% during the 4th quarter. FNY Investment Advisers LLC now owns 3,500 shares of the company’s stock valued at $41,000 after acquiring an additional 1,000 shares in the last quarter. New York State Common Retirement Fund bought a new position in TaskUs during the second quarter worth about $67,000. Harbor Capital Advisors Inc. raised its holdings in shares of TaskUs by 21.9% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 4,994 shares of the company’s stock worth $89,000 after buying an additional 896 shares in the last quarter. Finally, Wolverine Asset Management LLC bought a new stake in TaskUs in the fourth quarter valued at $102,000. 44.64% of the stock is currently owned by institutional investors and hedge funds.

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.