TaskUs (NASDAQ:TASK) Trading Up 7.1%

TaskUs, Inc. (NASDAQ:TASK) shares were up 7.1% during mid-day trading on Wednesday . The company traded as high as $64.78 and last traded at $64.15. Approximately 14,125 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 602,507 shares. The stock had previously closed at $59.92.

A number of analysts have issued reports on TASK shares. JPMorgan Chase & Co. raised their target price on TaskUs from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Tuesday, August 17th. Robert W. Baird reaffirmed a “buy” rating on shares of TaskUs in a report on Thursday, August 12th. BTIG Research assumed coverage on TaskUs in a research report on Thursday, July 8th. They issued a “buy” rating and a $45.00 price objective for the company. Wells Fargo & Company assumed coverage on TaskUs in a research report on Tuesday, July 6th. They issued an “overweight” rating and a $35.00 price objective for the company. Finally, Royal Bank of Canada assumed coverage on TaskUs in a research report on Tuesday, July 6th. They issued an “outperform” rating and a $43.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $46.88.

The company has a debt-to-equity ratio of 0.61, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a 50-day moving average of $43.04.

TaskUs (NASDAQ:TASK) last posted its earnings results on Tuesday, August 10th. The company reported $0.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.03). The company had revenue of $180.02 million during the quarter, compared to analyst estimates of $161.96 million. TaskUs’s revenue for the quarter was up 57.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.18 EPS. Equities analysts forecast that TaskUs, Inc. will post 1.17 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of TASK. Blackstone Inc bought a new position in TaskUs in the 2nd quarter valued at $221,829,000. FMR LLC bought a new position in TaskUs in the 2nd quarter valued at $77,964,000. Massachusetts Financial Services Co. MA bought a new position in TaskUs in the 2nd quarter valued at $34,529,000. American Century Companies Inc. bought a new position in TaskUs in the 2nd quarter valued at $32,439,000. Finally, Vanguard Group Inc. bought a new position in TaskUs in the 2nd quarter valued at $30,760,000. Hedge funds and other institutional investors own 19.97% of the company’s stock.

About TaskUs (NASDAQ:TASK)

TaskUs, Inc provides outsourcing services to Internet companies worldwide. It offers digital customer experience that consists of omni-channel customer care services primarily delivered through digital channels; and other solutions, including customer care services for new product or market launches, trust and safety solutions, and customer acquisition solutions.

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