TaskUs (NASDAQ:TASK) Earns “Outperform” Rating from Wedbush

TaskUs (NASDAQ:TASK)‘s stock had its “outperform” rating reaffirmed by equities researchers at Wedbush in a report released on Wednesday,Benzinga reports. They presently have a $14.00 price target on the stock. Wedbush’s price objective points to a potential upside of 90.48% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Royal Bank Of Canada cut their price target on TaskUs from $17.00 to $13.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 26th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of TaskUs in a research note on Thursday, April 2nd. Piper Sandler lowered TaskUs to a “neutral” rating in a research note on Friday, February 27th. Wall Street Zen lowered TaskUs from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 7th. Finally, Morgan Stanley cut their price target on TaskUs from $16.50 to $12.00 and set an “equal weight” rating on the stock in a research note on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $14.25.

TaskUs Stock Performance

TASK stock opened at $7.35 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.12 and a quick ratio of 3.12. TaskUs has a fifty-two week low of $6.20 and a fifty-two week high of $18.39. The stock has a market capitalization of $665.62 million, a PE ratio of 6.62 and a beta of 2.06. The company has a 50 day moving average price of $9.32 and a 200 day moving average price of $11.37.

TaskUs (NASDAQ:TASK) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.04. TaskUs had a return on equity of 22.52% and a net margin of 8.64%.The business had revenue of $312.96 million for the quarter, compared to analyst estimates of $303.68 million. Analysts forecast that TaskUs will post 0.9 EPS for the current year.

Insider Activity at TaskUs

In other TaskUs news, insider Jarrod Johnson sold 11,406 shares of the company’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $6.89, for a total transaction of $78,587.34. Following the completion of the sale, the insider owned 25,130 shares in the company, valued at approximately $173,145.70. The trade was a 31.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 30.63% of the company’s stock.

Institutional Trading of TaskUs

Institutional investors and hedge funds have recently made changes to their positions in the business. Allworth Financial LP raised its position in shares of TaskUs by 9,224.0% during the 4th quarter. Allworth Financial LP now owns 2,331 shares of the company’s stock valued at $27,000 after acquiring an additional 2,306 shares during the last quarter. Strategic Advocates LLC bought a new stake in shares of TaskUs during the 3rd quarter valued at $41,000. FNY Investment Advisers LLC raised 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 during the last quarter. State of Wyoming bought a new stake in shares of TaskUs during the 4th quarter valued at $59,000. Finally, New York State Common Retirement Fund bought a new stake in shares of TaskUs during the 2nd quarter valued at $67,000. Institutional investors own 44.64% of the company’s stock.

About TaskUs

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.