TaskUs, Inc. (NASDAQ:TASK – Get Free Report) shares shot up 9% during mid-day trading on Monday . The stock traded as high as $6.03 and last traded at $6.0150. Approximately 371,352 shares were traded during trading, a decline of 40% from the average daily volume of 618,856 shares. The stock had previously closed at $5.52.
Analyst Ratings Changes
TASK has been the subject of a number of research analyst reports. The Goldman Sachs Group lowered their target price on TaskUs from $10.00 to $7.00 and set a “sell” rating for the company in a report on Thursday, May 7th. Wedbush reduced their price target on shares of TaskUs from $14.00 to $12.00 and set an “outperform” rating on the stock in a research report on Thursday, May 7th. Morgan Stanley set a $6.00 price objective on shares of TaskUs in a research note on Friday, May 8th. Wall Street Zen cut shares of TaskUs from a “buy” rating to a “hold” rating in a report on Monday, May 11th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of TaskUs in a research note on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $11.20.
Get Our Latest Research Report on TaskUs
TaskUs Stock Performance
TaskUs (NASDAQ:TASK – Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. The company had revenue of $306.27 million for the quarter, compared to the consensus estimate of $296.68 million. TaskUs had a return on equity of 24.93% and a net margin of 8.70%. Equities analysts anticipate that TaskUs, Inc. will post 1.1 earnings per share for the current fiscal year.
Institutional Trading of TaskUs
A number of large investors have recently made changes to their positions in the company. Allworth Financial LP lifted its stake in TaskUs by 9,224.0% in the fourth quarter. Allworth Financial LP now owns 2,331 shares of the company’s stock worth $27,000 after acquiring an additional 2,306 shares during the last quarter. FNY Investment Advisers LLC increased its position in shares of TaskUs by 40.0% in the 4th quarter. FNY Investment Advisers LLC now owns 3,500 shares of the company’s stock valued at $41,000 after purchasing an additional 1,000 shares during the last quarter. New York State Common Retirement Fund acquired a new stake in shares of TaskUs in the 2nd quarter valued at $67,000. State of Wyoming acquired a new stake in shares of TaskUs in the 4th quarter valued at $59,000. Finally, Kestra Advisory Services LLC purchased a new stake in shares of TaskUs during the 4th quarter worth $87,000. 44.64% of the stock is currently owned by hedge funds and other institutional investors.
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.
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