Analysts Set TaskUs, Inc. (NASDAQ:TASK) Target Price at $16.43

Shares of TaskUs, Inc. (NASDAQ:TASK) have earned a consensus recommendation of “Hold” from the eight ratings firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $17.00.

A number of research analysts recently commented on the company. Morgan Stanley raised TaskUs from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $18.00 to $21.00 in a report on Friday. Bank of America raised shares of TaskUs from a “neutral” rating to a “buy” rating and set a $18.00 target price on the stock in a report on Monday, December 9th. Robert W. Baird raised their target price on shares of TaskUs from $16.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, 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 report on Friday, September 6th.

TaskUs Price Performance

Shares of TaskUs stock opened at $18.46 on Friday. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of 31.29, a PEG ratio of 4.23 and a beta of 2.31. 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 stock’s 50-day simple moving average is $13.99 and its 200-day simple moving average is $13.96. TaskUs has a 52 week low of $10.56 and a 52 week high of $19.60.

Institutional Investors Weigh In On TaskUs

A number of hedge funds have recently bought and sold shares of TASK. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of TaskUs by 55.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,581 shares of the company’s stock worth $74,000 after buying an additional 1,988 shares during the last quarter. nVerses Capital LLC bought a new stake in TaskUs during the second quarter worth approximately $28,000. LSV Asset Management bought a new stake in TaskUs during the second quarter worth approximately $990,000. American Century Companies Inc. raised its position in TaskUs by 11.4% during the second quarter. American Century Companies Inc. now owns 27,976 shares of the company’s stock valued at $372,000 after purchasing an additional 2,863 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of TaskUs by 15.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 392,504 shares of the company’s stock valued at $5,224,000 after purchasing an additional 51,935 shares during the last quarter. 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.