Short Interest in TaskUs, Inc. (NASDAQ:TASK) Expands By 18.9%

TaskUs, Inc. (NASDAQ:TASK) was the target of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 1,890,000 shares, an increase of 18.9% from the February 13th total of 1,590,000 shares. Based on an average daily volume of 348,000 shares, the short-interest ratio is presently 5.4 days. Currently, 10.6% of the shares of the stock are sold short.

Analyst Ratings Changes

TASK has been the subject of several recent research reports. Morgan Stanley upgraded shares of 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 research report on Friday, December 13th. Royal Bank of Canada upped their price target on shares of TaskUs from $18.00 to $20.00 and gave the company a “sector perform” rating in a research report on Thursday, February 27th. Finally, Bank of America upgraded shares of TaskUs from a “neutral” rating to a “buy” rating and set a $18.00 price target for the company in a research report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $17.25.

Insider Activity at TaskUs

In related news, insider Jarrod Johnson sold 15,460 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $13.25, for a total value of $204,845.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 29.26% of the stock is owned by insiders.

Institutional Investors Weigh In On TaskUs

Large investors have recently bought and sold shares of the stock. Blue Trust Inc. grew its holdings in TaskUs by 71.5% in the fourth quarter. Blue Trust Inc. now owns 1,677 shares of the company’s stock worth $28,000 after purchasing an additional 699 shares during the period. BNP Paribas Financial Markets acquired a new stake in TaskUs in the fourth quarter worth $80,000. KLP Kapitalforvaltning AS acquired a new stake in TaskUs in the fourth quarter worth $81,000. Point72 Asset Management L.P. bought a new position in shares of TaskUs in the fourth quarter valued at $83,000. Finally, US Bancorp DE lifted its stake 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 buying an additional 2,516 shares in the last quarter. 44.64% of the stock is currently owned by institutional investors and hedge funds.

TaskUs Trading Up 1.4 %

TASK opened at $13.65 on Wednesday. TaskUs has a twelve month low of $10.56 and a twelve month high of $19.60. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.50. The company has a fifty day moving average of $15.24 and a 200-day moving average of $14.50. The stock has a market cap of $1.23 billion, a PE ratio of 23.14, a price-to-earnings-growth ratio of 3.92 and a beta of 2.24.

TaskUs (NASDAQ:TASK) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.12). The company had revenue of $274.24 million during the quarter, compared to analyst estimates of $268.65 million. TaskUs had a return on equity of 17.73% and a net margin of 5.58%. On average, sell-side analysts predict that TaskUs will post 0.9 EPS for the current year.

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.