TaskUs (NASDAQ:TASK) Coverage Initiated at Wedbush

Analysts at Wedbush began coverage on shares of TaskUs (NASDAQ:TASK) in a research note issued to investors on Tuesday. The brokerage set an “outperform” rating and a $15.00 price target on the stock. Wedbush’s price target would suggest a potential upside of 35.01% from the company’s current price.

A number of other research firms have also recently weighed in on TASK. Royal Bank Of Canada increased their price objective on TaskUs from $16.50 to $17.00 and gave the stock a “sector perform” rating in a research report on Monday, November 10th. Weiss Ratings reissued a “hold (c)” rating on shares of TaskUs in a research note on Wednesday, October 8th. The Goldman Sachs Group upgraded shares of TaskUs to a “strong sell” rating in a research report on Monday, November 10th. Wall Street Zen raised shares of TaskUs to a “strong-buy” rating in a report on Saturday, January 17th. Finally, Zacks Research cut shares of TaskUs from a “strong-buy” rating to a “hold” rating in a report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $16.63.

TaskUs Stock Up 2.9%

TASK opened at $11.11 on Tuesday. The business’s 50-day simple moving average is $11.60 and its 200-day simple moving average is $14.26. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.89 and a current ratio of 2.89. TaskUs has a one year low of $10.58 and a one year high of $18.59. The stock has a market capitalization of $1.00 billion, a P/E ratio of 12.48 and a beta of 2.12.

TaskUs (NASDAQ:TASK) last released its quarterly earnings results on Friday, November 7th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. The firm had revenue of $298.71 million for the quarter, compared to the consensus estimate of $286.71 million. TaskUs had a return on equity of 21.27% and a net margin of 7.11%. Analysts anticipate that TaskUs will post 0.9 EPS for the current year.

Institutional Trading of TaskUs

Several institutional investors and hedge funds have recently modified their holdings of TASK. Goldman Sachs Group Inc. increased its stake in shares of TaskUs by 11.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 183,889 shares of the company’s stock worth $2,506,000 after purchasing an additional 19,495 shares in the last quarter. Inspire Investing LLC grew its holdings in TaskUs by 193.2% during the 2nd quarter. Inspire Investing LLC now owns 74,174 shares of the company’s stock valued at $1,243,000 after buying an additional 48,879 shares during the last quarter. Credit Industriel ET Commercial purchased a new position in TaskUs during the second quarter worth $1,447,000. Versor Investments LP acquired a new position in shares of TaskUs in the second quarter worth $1,914,000. Finally, Alpine Associates Management Inc. acquired a new position in TaskUs in the 2nd quarter valued at about $4,370,000. Hedge funds and other institutional investors own 44.64% of the company’s stock.

About TaskUs

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.