TaskUs (NASDAQ:TASK) Stock Price Up 11.8% – Still a Buy?

TaskUs, Inc. (NASDAQ:TASK) shares rose 11.8% during mid-day trading on Monday . The company traded as high as $17.14 and last traded at $17.02. Approximately 102,990 shares were traded during trading, a decline of 53% from the average daily volume of 220,567 shares. The stock had previously closed at $15.22.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TASK shares. Robert W. Baird increased their target price on TaskUs from $16.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. 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 research note on Friday, September 6th. Finally, Bank of America raised shares of TaskUs from a “neutral” rating to a “buy” rating and set a $18.00 price objective for the company in a research report on Monday. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, TaskUs has a consensus rating of “Hold” and a consensus price target of $16.43.

TaskUs Stock Down 2.3 %

The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 0.50. The firm has a market cap of $1.45 billion, a PE ratio of 27.54, a P/E/G ratio of 3.94 and a beta of 2.31. The business’s 50-day simple moving average is $13.70 and its 200 day simple moving average is $13.90.

Hedge Funds Weigh In On TaskUs

Several institutional investors have recently bought and sold shares of TASK. Royce & Associates LP raised its holdings in TaskUs by 8.9% in the third quarter. Royce & Associates LP now owns 669,579 shares of the company’s stock worth $8,651,000 after purchasing an additional 54,770 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in TaskUs by 47.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 263,734 shares of the company’s stock valued at $3,407,000 after acquiring an additional 84,988 shares during the last quarter. Seldon Capital LP acquired a new stake in TaskUs in the third quarter valued at approximately $5,393,000. LSV Asset Management purchased a new position in TaskUs in the second quarter worth $990,000. Finally, Dimensional Fund Advisors LP increased its position in shares of TaskUs by 15.2% during 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 in the last quarter. 44.64% of the stock is owned by hedge funds and other institutional investors.

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.