TaskUs, Inc. (NASDAQ:TASK) Given Consensus Rating of “Hold” by Brokerages

TaskUs, Inc. (NASDAQ:TASK) has been given a consensus rating of “Hold” by the eight analysts that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $17.00.

Several brokerages recently issued reports on TASK. Robert W. Baird raised their target price on shares of TaskUs from $16.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Morgan Stanley raised TaskUs from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $18.00 to $21.00 in a report on Friday, December 13th. Finally, Bank of America raised TaskUs from a “neutral” rating to a “buy” rating and set a $18.00 price target for the company in a report on Monday, December 9th.

TaskUs Stock Down 12.8 %

Shares of TASK stock opened at $15.01 on Wednesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 3.02 and a current ratio of 3.02. TaskUs has a fifty-two week low of $10.56 and a fifty-two week high of $19.60. The firm has a market capitalization of $1.34 billion, a PE ratio of 25.44, a P/E/G ratio of 4.67 and a beta of 2.23. The stock’s 50-day simple moving average is $15.54 and its 200-day simple moving average is $14.31.

Insider Activity at TaskUs

In other news, COO Stephan Daoust sold 62,159 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $18.23, for a total transaction of $1,133,158.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Steven Amaya sold 2,600 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $18.08, for a total value of $47,008.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 140,338 shares of company stock worth $2,548,902. Company insiders own 29.26% of the company’s stock.

Institutional Investors Weigh In On TaskUs

A number of hedge funds and other institutional investors have recently made changes to their positions in TASK. JPMorgan Chase & Co. purchased a new position in shares of TaskUs in the 3rd quarter valued at $1,006,000. Barclays PLC grew its stake in TaskUs by 24.9% during the 3rd quarter. Barclays PLC now owns 24,774 shares of the company’s stock worth $321,000 after buying an additional 4,945 shares during the last quarter. XTX Topco Ltd bought a new position in TaskUs in the 3rd quarter worth about $269,000. Jane Street Group LLC grew its holdings in TaskUs by 9.9% in the 3rd quarter. Jane Street Group LLC now owns 21,761 shares of the company’s stock worth $281,000 after buying an additional 1,959 shares in the last quarter. Finally, Quarry LP increased its holdings in shares of TaskUs by 357.4% during the third quarter. Quarry LP now owns 13,567 shares of the company’s stock valued at $175,000 after purchasing an additional 10,601 shares during the period. Hedge funds and other institutional investors own 44.64% of the company’s stock.

About TaskUs

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.