TaskUs Faces Future Uncertainties Amidst Strong Q2 Performance: Analyst Cautions On FY23 Forecast
Portfolio Pulse from Lekha Gupta
RBC Capital Markets analyst Daniel R. Perlin downgraded TaskUs Inc (NASDAQ:TASK) to Sector Perform from Outperform and lowered the price target to $16 from $21. The downgrade follows TaskUs's Q2 FY23 results and lower than expected Q3 and FY23 revenue guidance. TaskUs's shares are trading lower by 12.2% at $10.52.
August 10, 2023 | 5:02 pm
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NEGATIVE IMPACT
TaskUs Inc was downgraded by RBC Capital Markets following its Q2 FY23 results and lower than expected Q3 and FY23 revenue guidance. The company's shares are trading lower.
The downgrade by RBC Capital Markets is based on TaskUs's Q2 FY23 results and its lower than expected Q3 and FY23 revenue guidance. This negative sentiment from a major analyst is likely to put downward pressure on the stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100