What's Going On With TaskUs Stock Today?

RBC Capital analyst Daniel Perlin reiterated Outperform on TaskUs, Inc 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.