TASKUS INC-A (NASDAQ:TASK) – A Strong Growth Candidate Meeting Minervini’s Criteria

TASKUS INC-A (NASDAQ:TASK) has been identified as a high-growth momentum stock that aligns with Mark Minervini’s Trend Template. The company’s technical setup and fundamental growth metrics suggest it could be an attractive candidate for investors focused on strong uptrends and accelerating earnings.

Why TASK Fits the Minervini Trend Template

Minervini’s strategy emphasizes stocks in strong uptrends with clear technical strength. TASK meets these criteria:

• Price Above Key Moving Averages: The stock is trading above its 50-day ($16.49), 150-day ($15.42), and 200-day ($14.91) moving averages, confirming a bullish trend.
• Rising Moving Averages: Both the 150-day and 200-day MAs are trending upward, reinforcing long-term strength.
• Relative Strength: With a ChartMill Relative Strength (CRS) score of 78, TASK outperforms 78% of all stocks, indicating strong momentum.
• Price Near 52-Week High: At $17.17, the stock is within 12% of its 52-week high ($19.60), a positive sign for continued upward movement.

High Growth Fundamentals

Beyond technicals, TASK shows promising growth metrics:

• Revenue Growth: Quarterly revenue growth (Q2Q) stands at 22.1%, with consistent beats in revenue estimates over the past four quarters.
• Earnings Acceleration: EPS grew 26.7% in the most recent quarter, a notable improvement from prior quarters.
• Profit Margin Expansion: The latest quarter’s profit margin (7.61%) shows recovery from earlier periods, suggesting improving efficiency.
• Analyst Upgrades: EPS estimates for next year have been revised upward by 3.18% over the past three months, reflecting optimism.

Technical Outlook

According to ChartMill’s technical report, TASK has a strong rating of 8 out of 10, supported by positive short- and medium-term trends. However, the setup rating of 3 suggests waiting for a better consolidation before entry. Key support levels are found between $16.27 and $17.03, providing a potential buffer against pullbacks.

For a deeper analysis, review the full technical report on TASK.

Our High Growth Momentum + Trend Template screener lists more stocks with similar growth and trend characteristics, updated daily.

Disclaimer

This is not investment advice. Always conduct your own research and consider risk management before making investment decisions.