BUZZ-TaskUs hits 1-year high after strong revenue forecast

Reuters08-10

** Shares of TaskUs climb as much as 15% to their highest since March 2023

** Company, which handles outsourced services for over 200 businesses including Meta , forecast full-year revenue above market estimates after market close on Thursday

** At least three brokerages raise their price targets on the stock

** "We're impressed by the accelerating revenue trends, but acknowledge the growth is coming at a cost," J.P. Morgan says

** Co now expects full-year adjusted EBITDA margin towards the lower end of the 22%-23% range it had forecast earlier

** YTD as of last close, stock has gained 19%

(Reporting by Niket Nishant in Bengaluru)

((Niket.Nishant@thomsonreuters.com))

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