RBC Capital Raises TaskUs Price Target By 60% Post Q3 Results

RBC Capital analyst Daniel Perlin raised the price target on TaskUs Inc TASK to $69 from $43, implying a 9% upside, and reiterated an Outperform.
The company's Q3 EBITDA and revenue were at the high end of its pre-announced range, with organic growth of 64% accelerating from the 57% rate last quarter. The management also increased the FY21 outlook.
TaskUs remains well-positioned to support the operational needs of its high-growth clients as they scale through its tech-enabled outsourcing solutions purpose-built for their various industry verticals within the Digital Economy, Perlin adds.
Price Action: TASK shares traded higher by 9.13% at $63.47 on the last check Thursday.