TaskUs positioned for beat-and-raises in 2024, says Citi

TaskUs reported a "solid beat" but some of this was due to timing-related items and stronger than expected seasonal volumes, Citi analyst Ryan Potter the analyst tells investors in a research note. The firm believes the stock is likely to remain range-bound the next 3-6 months as investors look for proof points of improving growth trends. However, it views 2023 as set up for consistent beat-and-raise quarters though and believes investors will see a more visible path toward high-teens growth in 2024 as the year progresses. Citi keeps a Buy rating on TaskUs with a $23 price target.