TaskUs TASK shares rallied 9.3% in the last trading session to close at $16.67. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 11.7% loss over the past four weeks.
TaskUs is benefiting from strong demand in specialized service lines like trust and safety, digital customer experience, and AI services, along with its focus on cross-selling and enhancing efficiency through generative AI and automation.
This provider of outsourced digital services is expected to post quarterly earnings of $0.34 per share in its upcoming report, which represents a year-over-year change of -2.9%. Revenues are expected to be $268.87 million, up 14.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For TaskUs, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on TASK going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
TaskUs belongs to the Zacks Computers - IT Services industry. Another stock from the same industry, Vertiv Holdings Co. VRT, closed the last trading session 2.4% higher at $132. Over the past month, VRT has returned 6.8%.
For Vertiv
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With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>TaskUs, Inc. (TASK) : Free Stock Analysis Report
Vertiv Holdings Co. (VRT) : Free Stock Analysis Report
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