TaskUs hits 1-year high after strong revenue forecast

Taskus

09/08/2024 17:13

** Shares of TaskUs  TASK.O  climb as much as 15% to their
highest since March 2023
    ** Company, which handles outsourced services for over 200
businesses including Meta  META.O , forecast full-year revenue
above market estimates after market close on Thursday
    ** At least three brokerages raise their price targets on
the stock
    ** "We're impressed by the accelerating revenue trends, but
acknowledge the growth is coming at a cost," J.P. Morgan says
    ** Co now expects full-year adjusted EBITDA margin towards
the lower end of the 22%-23% range it had forecast earlier
    ** YTD as of last close, stock has gained 19%  

 (Reporting by Niket Nishant in Bengaluru)
 ((Niket.Nishant@thomsonreuters.com))