TaskUs (NASDAQ:TASK) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of TaskUs (NASDAQ:TASK) from an equal weight rating to an overweight rating in a research note released on Friday, MarketBeat reports. They currently have $21.00 target price on the stock, up from their previous target price of $18.00.

A number of other research analysts have also issued reports on TASK. JPMorgan Chase & Co. decreased their target price on TaskUs from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. Robert W. Baird increased their price objective on shares of TaskUs from $16.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, Bank of America raised shares of TaskUs from a “neutral” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Monday, December 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $17.00.

TaskUs Stock Performance

Shares of TASK stock opened at $18.46 on Friday. 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 business’s 50 day moving average is $13.99 and its two-hundred day moving average is $13.96. The company has a market capitalization of $1.65 billion, a P/E ratio of 31.29, a P/E/G ratio of 4.67 and a beta of 2.31.

Institutional Investors Weigh In On TaskUs

A number of hedge funds have recently modified their holdings of TASK. nVerses Capital LLC purchased a new stake in TaskUs during the 2nd quarter valued at about $28,000. US Bancorp DE increased its holdings in shares of TaskUs by 101.2% in the third quarter. US Bancorp DE now owns 5,001 shares of the company’s stock valued at $65,000 after purchasing an additional 2,516 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in TaskUs by 55.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,581 shares of the company’s stock worth $74,000 after buying an additional 1,988 shares in the last quarter. CWM LLC boosted its stake in TaskUs by 25,053.3% during the third quarter. CWM LLC now owns 7,546 shares of the company’s stock worth $97,000 after buying an additional 7,516 shares during the last quarter. Finally, Quantbot Technologies LP grew its holdings in TaskUs by 186.7% in the 3rd quarter. Quantbot Technologies LP now owns 9,428 shares of the company’s stock valued at $122,000 after buying an additional 6,140 shares in the last quarter. 44.64% of the stock is currently owned by institutional investors and hedge funds.

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.