TaskUs (NASDAQ:TASK) Stock Rating Upgraded by Bank of America

TaskUs (NASDAQ:TASK) was upgraded by equities researchers at Bank of America from a “neutral” rating to a “buy” rating in a report released on Monday, Marketbeat.com reports. The firm presently has a $18.00 price objective on the stock. Bank of America‘s price objective would suggest a potential upside of 10.77% from the stock’s current price.

A number of other research firms also recently issued reports on TASK. Robert W. Baird upped their price target 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. JPMorgan Chase & Co. reduced their price objective on TaskUs from $17.00 to $15.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Finally, Citigroup raised their price objective on TaskUs from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, TaskUs has an average rating of “Hold” and a consensus price target of $16.43.

TaskUs Price Performance

Shares of TaskUs stock opened at $16.25 on Monday. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 0.50. TaskUs has a 12 month low of $10.56 and a 12 month high of $19.60. The stock has a 50 day moving average of $13.70 and a 200 day moving average of $13.90. The firm has a market cap of $1.45 billion, a PE ratio of 27.54, a PEG ratio of 3.94 and a beta of 2.31.

Institutional Investors Weigh In On TaskUs

Several hedge funds and other institutional investors have recently modified their holdings of the business. Barclays PLC grew its position in TaskUs by 24.9% in the 3rd quarter. Barclays PLC now owns 24,774 shares of the company’s stock valued at $321,000 after acquiring an additional 4,945 shares during the last quarter. XTX Topco Ltd purchased a new position in TaskUs in the 3rd quarter worth about $269,000. Jane Street Group LLC lifted its holdings in TaskUs by 9.9% during the 3rd quarter. Jane Street Group LLC now owns 21,761 shares of the company’s stock valued at $281,000 after buying an additional 1,959 shares in the last quarter. Quarry LP boosted its position in TaskUs by 357.4% in the 3rd quarter. Quarry LP now owns 13,567 shares of the company’s stock valued at $175,000 after buying an additional 10,601 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its stake in TaskUs by 47.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 263,734 shares of the company’s stock worth $3,407,000 after acquiring an additional 84,988 shares in the last quarter. 44.64% of the stock is currently owned by hedge funds and other institutional investors.

TaskUs Company Profile

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.