TaskUs (NASDAQ:TASK) Trading 11.8% Higher – Here’s Why

Shares of TaskUs, Inc. (NASDAQ:TASK) were up 11.8% during mid-day trading on Monday . The stock traded as high as $17.14 and last traded at $17.02. Approximately 102,990 shares changed hands during trading, a decline of 53% from the average daily volume of 220,567 shares. The stock had previously closed at $15.22.

Wall Street Analyst Weigh In

A number of research analysts have commented on TASK shares. JPMorgan Chase & Co. reduced their price target on shares of TaskUs from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. Bank of America upgraded shares of TaskUs from a “neutral” rating to a “buy” rating and set a $18.00 target price on the stock in a research report on Monday. Robert W. Baird upped their price target on shares of TaskUs from $16.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, Citigroup lifted their price objective on TaskUs from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Monday, August 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $16.43.

TaskUs Trading Up 9.3 %

The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.50. The firm’s fifty day moving average is $13.56 and its two-hundred day moving average is $13.88. The firm has a market cap of $1.49 billion, a P/E ratio of 28.85, a PEG ratio of 3.94 and a beta of 2.31.

Hedge Funds Weigh In On TaskUs

Institutional investors have recently added to or reduced their stakes in the company. nVerses Capital LLC bought a new stake in TaskUs during the second quarter worth about $28,000. US Bancorp DE increased its position in TaskUs by 101.2% during the 3rd quarter. US Bancorp DE now owns 5,001 shares of the company’s stock valued at $65,000 after buying an additional 2,516 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in TaskUs by 55.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,581 shares of the company’s stock valued at $74,000 after buying an additional 1,988 shares during the last quarter. CWM LLC boosted its holdings in TaskUs by 25,053.3% in the third quarter. CWM LLC now owns 7,546 shares of the company’s stock worth $97,000 after acquiring an additional 7,516 shares in the last quarter. Finally, Quantbot Technologies LP increased its holdings in shares of TaskUs by 186.7% during the third quarter. Quantbot Technologies LP now owns 9,428 shares of the company’s stock valued at $122,000 after acquiring an additional 6,140 shares in the last quarter. 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.