- RBC Capital analyst Daniel Perlin reiterated Outperform on TaskUs, Inc (NASDAQ:TASK) with a $26 price target after the company reported Q3 earnings beat.
- The Q3 FY22 print & guidance suggest that TASK remains a share gainer as the demand environment remains healthy once he adjusts for the pivot from its largest client moving to offshore, lower-cost geographies, and weakness in crypto and retail trading.
- In addition, the company delivered a substantial adjusted EBITDA margin of 23.9%, despite adding ~3,400 net new employees to satisfy the increasing demand for offshore capabilities, he wrote in a Tuesday note titled “Rev/adj. EBITDA beat, FY22 guidance increased, and early read on FY23 encouraging.”
- Wells Fargo analyst Jeff Cantwell reiterated Equal-Weight with an $18 price target.
- TASK reported solid 3Q results and guidance, he wrote in a Tuesday note titled “TASK: Solid 3Q Results, but We Remain Cautious on ’23”
- Despite several puts and takes, the early ‘outlook’ for ’23 EBITDA and EPS was generally in line with his prior.
- Cantwell said TASK was oversold into this print, so he believes the near-term reaction should be positive.
- TaskUs will continue to execute well against its key strategic initiatives as it drives digital transformation for clients.
- Price Action: TASK shares traded higher by 33.90% at $21.46 on the last check Tuesday.
12 Information Technology Stocks Moving In Monday’s Pre-Market Session
Gainers Maris Tech (NASDAQ:MTEK) stock increased by 23.0% to $1.23 during Monday’s pre-market session. The market value of…
