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It's been a pretty great week for TaskUs, Inc. (NASDAQ:TASK) shareholders, with its shares surging 13% to US$13.60 in the week since its latest quarterly results. The result was positive overall - although revenues of US$227m were in line with what the analysts predicted, TaskUs surprised by delivering a statutory profit of US$0.13 per share, modestly greater than expected. Following the result, the analysts have updated their earnings model, and it would be good to know whether they think there's been a strong change in the company's prospects, or if it's business as usual. So we collected the latest post-earnings statutory consensus estimates to see what could be in store for next year.
Check out our latest analysis for TaskUs
Taking into account the latest results, the most recent consensus for TaskUs from eight analysts is for revenues of US$940.6m in 2024. If met, it would imply a credible 2.6% increase on its revenue over the past 12 months. Per-share earnings are expected to increase 5.4% to US$0.57. Yet prior to the latest earnings, the analysts had been anticipated revenues of US$928.5m and earnings per share (EPS) of US$0.56 in 2024. The consensus analysts don't seem to have seen anything in these results that would have changed their view on the business, given there's been no major change to their estimates.
There were no changes to revenue or earnings estimates or the price target of US$14.75, suggesting that the company has met expectations in its recent result. The consensus price target is just an average of individual analyst targets, so - it could be handy to see how wide the range of underlying estimates is. The most optimistic TaskUs analyst has a price target of US$18.00 per share, while the most pessimistic values it at US$12.00. This shows there is still a bit of diversity in estimates, but analysts don't appear to be totally split on the stock as though it might be a success or failure situation.
Taking a look at the bigger picture now, one of the ways we can understand these forecasts is to see how they compare to both past performance and industry growth estimates. We would highlight that TaskUs' revenue growth is expected to slow, with the forecast 3.5% annualised growth rate until the end of 2024 being well below the historical 15% p.a. growth over the last three years. By way of comparison, the other companies in this industry with analyst coverage are forecast to grow their revenue at 5.7% per year. Factoring in the forecast slowdown in growth, it seems obvious that TaskUs is also expected to grow slower than other industry participants.