TaskUs (NASDAQ:TASK) Shares Gap Up – Time to Buy?

TaskUs, Inc. (NASDAQ:TASK) gapped up prior to trading on Friday . The stock had previously closed at $15.97, but opened at $18.00. TaskUs shares last traded at $17.92, with a volume of 163,235 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Robert W. Baird upped their price target on TaskUs from $16.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, November 8th. JPMorgan Chase & Co. dropped their price target on TaskUs from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Morgan Stanley raised TaskUs from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $18.00 to $21.00 in a report on Friday. Finally, Bank of America raised TaskUs from a “neutral” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Monday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.00.

TaskUs Stock Performance

The firm’s 50 day simple moving average is $13.87 and its 200-day simple moving average is $13.94. The company has a debt-to-equity ratio of 0.50, a quick ratio of 3.02 and a current ratio of 3.02. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of 30.37, a P/E/G ratio of 4.23 and a beta of 2.31.

Hedge Funds Weigh In On TaskUs

A number of hedge funds have recently modified their holdings of TASK. Barclays PLC boosted its holdings in TaskUs by 24.9% during the third 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 period. XTX Topco Ltd bought a new stake in TaskUs during the third quarter valued at about $269,000. Jane Street Group LLC boosted its holdings in TaskUs by 9.9% during the third quarter. Jane Street Group LLC now owns 21,761 shares of the company’s stock valued at $281,000 after acquiring an additional 1,959 shares during the period. Quarry LP boosted its holdings in TaskUs by 357.4% during the third quarter. Quarry LP now owns 13,567 shares of the company’s stock valued at $175,000 after acquiring an additional 10,601 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its holdings 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 period. 44.64% of the stock is 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.