TaskUs (NASDAQ:TASK) Rating Lowered to “Buy” at Wall Street Zen

TaskUs (NASDAQ:TASK) was downgraded by analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Several other research analysts have also recently commented on TASK. Royal Bank Of Canada lowered their target price on TaskUs from $17.00 to $13.00 and set a “sector perform” rating for the company in a research note on Thursday, February 26th. Morgan Stanley reduced their price target on TaskUs from $16.50 to $12.00 and set an “equal weight” rating on the stock in a research report on Friday, February 27th. Piper Sandler cut TaskUs to a “neutral” rating in a research note on Friday, February 27th. The Goldman Sachs Group raised TaskUs to a “strong sell” rating in a research report on Monday, November 10th. Finally, Zacks Research lowered shares of TaskUs from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $14.50.

TaskUs Price Performance

TaskUs stock opened at $10.92 on Friday. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 0.37. TaskUs has a 52-week low of $9.55 and a 52-week high of $18.39. The firm has a market cap of $987.39 million, a PE ratio of 9.84 and a beta of 2.11. The company’s 50 day moving average is $11.02 and its two-hundred day moving average is $13.15.

TaskUs (NASDAQ:TASK) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.36 by $0.04. TaskUs had a net margin of 8.64% and a return on equity of 22.52%. The business had revenue of $312.96 million during the quarter, compared to the consensus estimate of $303.68 million. On average, research analysts expect that TaskUs will post 0.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Think Investments LP raised its position in shares of TaskUs by 14.8% during the 2nd quarter. Think Investments LP now owns 3,734,665 shares of the company’s stock worth $62,593,000 after acquiring an additional 481,307 shares in the last quarter. Vanguard Group Inc. boosted its holdings in TaskUs by 39.6% in the third quarter. Vanguard Group Inc. now owns 1,536,748 shares of the company’s stock valued at $27,431,000 after purchasing an additional 435,892 shares in the last quarter. Hudson Bay Capital Management LP increased its stake in TaskUs by 1.4% in the fourth quarter. Hudson Bay Capital Management LP now owns 1,011,085 shares of the company’s stock valued at $11,921,000 after purchasing an additional 14,106 shares during the last quarter. Qube Research & Technologies Ltd purchased a new position in TaskUs in the second quarter valued at approximately $16,325,000. Finally, Irenic Capital Management LP acquired a new stake in TaskUs during the fourth quarter worth approximately $11,253,000. 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.