TaskUs (NASDAQ:TASK) Upgraded by Morgan Stanley to “Overweight” Rating

Morgan Stanley upgraded shares of TaskUs (NASDAQ:TASK) from an equal weight rating to an overweight rating in a research note published on Friday morning, Marketbeat.com reports. The firm currently has $21.00 target price on the stock, up from their previous target price of $18.00.

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

TaskUs Stock Performance

Shares of NASDAQ TASK 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. The company has a market capitalization of $1.65 billion, a P/E ratio of 31.29, a P/E/G ratio of 4.23 and a beta of 2.31. 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 $13.99 and a 200-day moving average of $13.96.

Institutional Investors Weigh In On TaskUs

Hedge funds and other institutional investors have recently made changes to their positions in the business. Jane Street Group LLC raised its position 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 purchasing an additional 1,959 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of TaskUs by 55.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,581 shares of the company’s stock valued at $74,000 after purchasing an additional 1,988 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of TaskUs during the 2nd quarter worth $28,000. US Bancorp DE lifted its position in shares of TaskUs by 101.2% during the 3rd quarter. US Bancorp DE now owns 5,001 shares of the company’s stock worth $65,000 after buying an additional 2,516 shares during the last quarter. Finally, Hsbc Holdings PLC grew its position in TaskUs by 19.7% in the second quarter. Hsbc Holdings PLC now owns 16,885 shares of the company’s stock valued at $225,000 after acquiring an additional 2,779 shares during the last quarter. 44.64% of the stock is currently owned by institutional investors and hedge funds.

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.