TaskUs (NASDAQ:TASK) Shares Gap Up – Time to Buy?

TaskUs, Inc. (NASDAQ:TASK)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $15.97, but opened at $18.00. TaskUs shares last traded at $17.92, with a volume of 163,235 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Morgan Stanley upgraded TaskUs from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $18.00 to $21.00 in a report on Friday. Robert W. Baird increased their target price on TaskUs from $16.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, November 8th. JPMorgan Chase & Co. reduced their price target on TaskUs from $17.00 to $15.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Finally, Bank of America raised 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, TaskUs currently has a consensus rating of “Hold” and a consensus target price of $17.00.

TaskUs Stock Performance

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 company has a 50-day moving average price of $13.87 and a 200-day moving average price of $13.94. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of 30.37, a P/E/G ratio of 4.23 and a beta of 2.31.

Hedge Funds Weigh In On TaskUs

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in TaskUs by 55.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,581 shares of the company’s stock worth $74,000 after purchasing an additional 1,988 shares during the period. nVerses Capital LLC acquired a new stake in TaskUs in the second quarter worth approximately $28,000. LSV Asset Management acquired a new stake in TaskUs in the second quarter worth approximately $990,000. American Century Companies Inc. lifted its position in TaskUs by 11.4% in the second quarter. American Century Companies Inc. now owns 27,976 shares of the company’s stock worth $372,000 after purchasing an additional 2,863 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in TaskUs by 15.2% in the second quarter. Dimensional Fund Advisors LP now owns 392,504 shares of the company’s stock worth $5,224,000 after purchasing an additional 51,935 shares during the period. 44.64% of the stock is currently owned by institutional investors and hedge funds.

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.