TaskUs (NASDAQ:TASK) Sees Unusually-High Trading Volume

Shares of TaskUs, Inc. (NASDAQ:TASK) saw strong trading volume on Thursday . 440,917 shares were traded during trading, an increase of 117% from the previous session’s volume of 203,207 shares.The stock last traded at $16.03 and had previously closed at $16.51.

Wall Street Analysts Forecast Growth

TASK has been the topic of several research analyst reports. Citigroup boosted their price target on shares of TaskUs from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Robert W. Baird raised their price target on TaskUs from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Thursday, July 11th. The Goldman Sachs Group began coverage on TaskUs in a research note on Monday, June 24th. They issued a “sell” rating and a $12.00 price objective on the stock. Finally, Bank of America raised shares of TaskUs from an “underperform” rating to a “neutral” rating and raised their target price for the company from $12.00 to $18.00 in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, TaskUs presently has an average rating of “Hold” and an average price target of $14.88.

TaskUs Stock Performance

The stock has a market capitalization of $1.35 billion, a PE ratio of 30.04, a PEG ratio of 6.11 and a beta of 2.33. The business’s 50 day moving average is $14.60 and its 200 day moving average is $13.20. The company has a current ratio of 3.36, a quick ratio of 3.36 and a debt-to-equity ratio of 0.56.

TaskUs (NASDAQ:TASK) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. The firm had revenue of $227.47 million during the quarter, compared to analyst estimates of $223.50 million. TaskUs had a return on equity of 16.61% and a net margin of 5.23%. On average, equities research analysts predict that TaskUs, Inc. will post 0.83 earnings per share for the current fiscal year.

Institutional Trading of TaskUs

Hedge funds have recently bought and sold shares of the stock. nVerses Capital LLC purchased a new stake in shares of TaskUs during the 2nd quarter worth $28,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of TaskUs by 55.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,581 shares of the company’s stock worth $74,000 after acquiring an additional 1,988 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in TaskUs by 145.3% during the first quarter. Jacobs Levy Equity Management Inc. now owns 120,920 shares of the company’s stock valued at $1,409,000 after acquiring an additional 71,621 shares during the last quarter. Lord Abbett & CO. LLC grew its holdings in TaskUs by 26.5% in the first quarter. Lord Abbett & CO. LLC now owns 744,222 shares of the company’s stock worth $8,670,000 after purchasing an additional 155,751 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in TaskUs by 53.2% in the first quarter. Janney Montgomery Scott LLC now owns 107,950 shares of the company’s stock worth $1,258,000 after purchasing an additional 37,505 shares during the last quarter. Hedge funds and other institutional investors own 44.64% of the company’s stock.

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.