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TaskUs

TaskUs Inc is a provider of outsourced digital services and next-generation customer experience to inventive and disruptive technology companies. It serves clients in the fastest-growing sectors, including social media, e-commerce, gaming, streaming media, food delivery and ridesharing, HiTech, FinTech and HealthTech.

TaskUs Inc

Former President Donald Trump has reiterated his commitment to imposing tariffs on cars imported from China and Mexico, aiming to protect American automotive jobs.
What Happened: During an interview with Patrick Bet-David released on Thursday, Trump emphasized the critical role these tariffs would play in safeguarding the U.S. auto industry.
&#8220;I hope the union workers, auto workers understand that I saved their jobs,&#8221; he said.
Trump highlighted a massive car manufacturing plant in Mexico, which he described as potentially one of the largest in the world. He expressed concerns that vehicles from this plant could inundate the U.S. market, leaving little room for American-made cars.
&#8220;That would mean that our car industry is wiped out,&#8221; Trump said.
See Also: <a href="https://www.benzinga.com/news/24/10/41328039/as-elon-musk-unveils-cybercab-uber-ceo-weighs-in-on-robotaxi-competiton-from-waymo-tesla-dont-think?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">As Elon Musk Unveils Cybercab, Uber CEO Weighs In On Robotaxi Competiton From Waymo, Tesla: &#8216;Don&#8217;t Think This Is Going To Be A Winner-Take-All Marketplace&#8217;</a>
Why It Matters: In September, Trump <a href="https://www.benzinga.com/news/24/09/40913456/trump-vows-200-tariffs-on-chinese-made-cars-in-mexico-warns-of-us-auto-industry-collapse-if-kamala-h">proposed a 200% tariff</a> on vehicles produced by alleged Chinese factories in Mexico, as reported in a town hall event in Flint, Michigan. He warned that if Vice President Kamala Harris were elected, the U.S. auto industry could collapse within two to three years due to electric vehicle production shifting to China.
Additionally, during a <a href="https://www.benzinga.com/general/politics/24/10/41279272/donald-trump-pushes-tariffs-on-chinese-cars-in-detroit-visit-vows-to-revamp-industry">visit to the Detroit Economic Club</a> in October, Trump reiterated his commitment to tariffs on Chinese cars, vowing to revamp the industry. He also commented on economic indicators, although some of his statements on inflation and interest rates were inaccurate.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/10/41369986/lucid-stock-is-tumbling-wednesday-whats-driving-the-action?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Lucid Stock Is Tumbling Wednesday: What&#8217;s Driving The Action?</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image via Wikimedia Commons

News

General

Trump Defends His Plans To Impose 200% Tariffs On Cars Imported From China, Mexico: 'Hope Union Workers Understand That I Saved Their Jobs'

Amid ongoing global economic recovery efforts, Kristalina Georgieva, Managing Director of the International Monetary Fund, has issued a cautionary note regarding persistent challenges such as high debt and low growth. Her remarks come as the U.S. and EU implement rate cuts to tackle inflation.
What Happened: Georgieva highlighted that despite progress, governments are increasingly reliant on borrowing, which, coupled with &#8220;anemic growth,&#8221; complicates debt management. She praised central banks for their inflation control efforts but noted uneven benefits across regions, with some still facing high prices and related unrest, CNBC <a href="https://www.cnbc.com/2024/10/17/imf-chief-warns-low-growth-and-high-debt-weigh-on-global-economy.html">reported</a> on Friday.
"It's not yet time to celebrate," she said.
"When we look into the challenges ahead of us, the biggest one is low growth, high debt. This is where we can and must do better.&#8221;
Georgieva&#8217;s comments precede the 2024 annual meetings of the IMF and World Bank Group in Washington, D.C., where global economic issues will be discussed. She also pointed out that international trade is no longer the &#8220;engine of growth&#8221; it once was, citing restrictive policies and <a href="https://www.benzinga.com/news/24/09/40914629/china-warns-eu-tariffs-on-evs-will-harm-trade-with-germany">U.S.-EU tariffs against China</a> as potential risks. Additionally, she expressed concern over geopolitical tensions, particularly in the Middle East, affecting global financial stability.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41331839/financial-sector-hits-record-highs-as-goldman-sachs-bank-of-america-citi-beat-q3-ea?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Financial Sector Hits Record Highs As Goldman Sachs, Bank of America, Citi Beat Q3 Earnings Expectations</a>
Why It Matters: Georgieva&#8217;s comment arrived a day after the European Central Bank (ECB) <a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41382372/ecb-slashes-rates-again-will-jerome-powell-take-this-as-cue-for-another-fed-rate-"> cut interest rates</a> for the third time this year to stimulate a sluggish economy, shifting focus from inflation control to economic growth. This move follows the Federal Reserve&#8217;s 50 basis point rate cut in September, marking a significant policy shift as both regions tackle economic challenges.
Meanwhile, the U.S. faces a staggering debt situation, with estimates suggesting a<a href="https://www.benzinga.com/economics/macro-economic-events/24/08/40368118/true-us-debt-is-175-trillion-former-coinbase-cto-on-unpayable-crisis"> true national debt </a>of $175 trillion when accounting for entitlements like Social Security and Medicare. This escalating debt underscores the urgency of addressing fiscal challenges.
In China, the government is reportedly considering issuing $850 billion in<a href="https://www.benzinga.com/markets/asia/24/10/41324527/as-chinas-stimulus-hype-wanes-beijing-reportedly-weighs-850b-special-treasury-bonds-to-stimulate-eco"> special treasury bonds</a> to stimulate its slowing economy and manage local debt. These developments highlight the global nature of economic challenges and the varied approaches being taken to address them.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41372368/mark-cuban-battles-former-trump-advisor-for-suggesting-a-child-could-do-american-auto-workers-job-pa?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Battles Former Trump Advisor Over Ex-President&#8217;s Comments On American Auto Workers: &#8216;He Still &nbsp;Thinks It&#8217;s 1965&#8217; (UPDATED)</a></li>
</ul>
Image via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Macro Economic Events

Global

Economics

As US Tackles Inflation With Rate Cuts, IMF MD Sounds Alarm: 'Not Yet Time To Celebrate' Amid Looming Low Growth, High Debt

The Procter &amp; Gamble Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) will release earnings results for its first quarter, before the <a href="https://www.benzinga.com/quote/PG/earnings">opening bell on Friday, Oct. 18.</a>
Analysts expect the Cincinnati, Ohio-based bank to report quarterly earnings at $1.90 per share, up from $1.83 per share in the year-ago period. Procter &amp; Gamble projects to report revenue of $21.91 billion for the recent quarter, compared to $19.78 billion a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On July 30, Procter &amp; Gamble reported fourth-quarter FY24 sales of $20.53 billion (flat Y/Y), missing the analyst consensus estimate of $20.74 billion.
Procter &amp; Gamble shares fell 0.1% to close at $172.28 on Thursday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/TCOM/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5890a92043eaaa0001d69b01/linda-bolton%20weiser">DA Davidson analyst Linda Bolton Weiser</a> maintained a Neutral rating with a price target of $159 on Oct. 15. This analyst has an accuracy rate of 61%.</li>
<li>Barclays analyst Lauren Lieberman downgraded the stock from Overweight to Equal-Weight with a price target of $163 on Sept. 30. This analyst has an accuracy rate of 63%.</li>
<li>JP Morgan analyst Andrea Teixeira maintained an Overweight rating and increased the price target from $179 to $186 on Sept. 19. This analyst has an accuracy rate of 61%.</li>
<li>TD Cowen analyst Robert Moskow initiated coverage on the stock with a Buy rating and a price target of $189 on July 23. This analyst has an accuracy rate of 65%.</li>
<li>Stifel analyst Mark Astrachan maintained a Hold rating and raised the price target from $157 to $161 on July 22. This analyst has an accuracy rate of 78%.</li>
</ul>
Considering buying PG stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="482" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18040800/image-158-1024x482.png" alt="" class="wp-image-602127" style="width:665px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18040800/image-158-1024x482.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18040800/image-158-300x141.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18040800/image-158-768x362.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18040800/image-158.png 1365w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read This Next: 
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/10/41379749/abbvie-is-doing-very-well-but-jim-cramers-favorite-abbott-laboratories">AbbVie Is Doing &#8216;Very Well&#8217; But Jim Cramer&#8217;s Favorite? Abbott Laboratories</a></li>
</ul>

Earnings

Price Target

Pre-Market Outlook

Markets

Analyst Ratings

Trading Ideas

Procter & Gamble Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Philip Morris International Inc. (PMI) has been informed by its deconsolidated Canadian affiliate, Rothmans,Benson &amp; Hedges Inc. (RBH), that the court-appointed mediator and monitor in RBH's Companies' Creditors Arrangement Act (CCAA) proceeding filed a proposed plan of compromise and arrangement (Proposed Plan) outlining certain terms of a comprehensive resolution of tobacco product-related claims and litigation in Canada against RBH and its affiliates. The court-appointed mediator and monitors also filed substantially similar proposed plans for Imperial Tobacco Canada Limited and Imperial Tobacco Company Limited (together, ITL) and JTI-Macdonald Corp. (JTIM).
Under the Proposed Plan, if ultimately approved and implemented, RBH, ITL and JTIM (the Companies) would pay an aggregate settlement amount of CAD 32.5 billion (approximately USD 23.5 billion). This amount would be funded by an upfront payment equal to the Companies' cash and cash equivalents on hand in Canada plus certain court deposits (subject to an aggregate withholding of CAD 750 million (approximately USD 540 million) for working capital inclusive of cash pledged as collateral) and annual payments based on a percentage of the Companies' net income after taxes (excluding that generated by certain non-combustible products including heat-not-burn, e-vapor and nicotine pouch products) until the aggregate settlement amount is paid. As stated in the Proposed Plan, the issue of allocation of the CAD 32.5 billion aggregate settlement as between the Companies in the CCAA proceedings remains unresolved.
"After years of mediation, we welcome this important step towards the resolution of long-pending tobacco product-related litigation in Canada," said Jacek Olczak, Chief Executive Officer of PMI. "Although important issues with the plan remain to be resolved, we are hopeful that this legal process will soon conclude, allowing RBH and its stakeholders to focus on the future."

Legal

Philip Morris, Imperial Tobacco, JTI-Macdonald Face $23.5B Settlement in Canada Tobacco Lawsuits

<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.cloudflare.com%2F&amp;esheet=54138023&amp;newsitemid=20241018840279&amp;lan=en-US&amp;anchor=Cloudflare%2C+Inc.&amp;index=1&amp;md5=3e1a02702fd6e8744473a752dd19c5f5">Cloudflare, Inc.</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>), the leading connectivity cloud company, today announced the opening of a new headquarters and technical hub in Lisbon, Portugal to further support its growing EMEA operations and offices in London, Paris, Munich, and Dubai. Portugal already represents a growing Cloudflare team.
Today, Cloudflare's network currently spans 58 cities in Europe, including Lisbon, Portugal, which was announced in <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fblog.cloudflare.com%2Famsterdam-to-zhuzhou-cloudflare-global-network%2F&amp;esheet=54138023&amp;newsitemid=20241018840279&amp;lan=en-US&amp;anchor=2016&amp;index=2&amp;md5=89c437ed99560575fd137ba7cd354fa5">2016</a>. Cloudflare announced its first office in Lisbon in 2019. Since establishing an office in the region, the company has grown from 14 employees to more than 350 in Portugal. Cloudflare plans to significantly increase its presence in Lisbon over the coming years.
Cloudflare celebrated the official opening of its new office with a ribbon cutting ceremony, followed by a reception attended by Portugal's Minister of Economy, Mr. Pedro Reis, along with other Portuguese officials. Top Cloudflare executives were also in attendance, including Cloudflare co-founder and CEO Matthew Prince, and John Graham-Cumming, CTO &amp; Head of the Lisbon office, which he opened in July 2019.

Government

Regulations

Cloudflare Expands European Operations With New Lisbon Headquarters, Plans Major Workforce Growth

Schlumberger Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) will release earnings results for its third quarter, before the<a href="https://www.benzinga.com/quote/SLB/earnings"> opening bell on Friday, Oct. 18.</a>
Analysts expect the Buffalo, New York-based company to report quarterly earnings at 88 cents per share, up from 71 cents per share in the year-ago period. SLB projects to report revenue of $9.25 billion for the quarter, compared to $7.58 billion a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On Thursday, SLB agreed to sell its interests in Palliser Block.
SLB shares gained 0.7% to close at $43.99 on Thursday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/SLB/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/580874cb846faa000106ac9d/david-anderson">Barclays analyst David Anderson</a> maintained an Overweight rating and cut the price target from $67 to $63 on Oct. 16. This analyst has an accuracy rate of 63%.</li>
<li>Stifel analyst Stephen Gengaro maintained a Buy rating and cut the price target from $65 to $62 on Oct. 11. This analyst has an accuracy rate of 60%.</li>
<li>BMO Capital analyst Philip Jungwirth maintained an Outperform rating and cut the price target from $60 to $58 on Oct. 10. This analyst has an accuracy rate of 61%.</li>
<li>JP Morgan analyst Arun Jayaram maintained an Overweight and cut the price target from $64 to $60 on Oct. 1. This analyst has an accuracy rate of 65%.</li>
<li>Morgan Stanley analyst Connor Lynagh maintained an Overweight rating and slashed the price target from $65 to $60 on Sept. 16. This analyst has an accuracy rate of 60%.</li>
</ul>
Considering buying SLB stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="511" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18035404/image-157-1024x511.png" alt="" class="wp-image-602108" style="width:705px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18035404/image-157-1024x511.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18035404/image-157-300x150.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18035404/image-157-768x383.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18035404/image-157.png 1338w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/10/41379749/abbvie-is-doing-very-well-but-jim-cramers-favorite-abbott-laboratories">AbbVie Is Doing &#8216;Very Well&#8217; But Jim Cramer&#8217;s Favorite? Abbott Laboratories</a></li>
</ul>

SLB Gears Up For Q3 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

The CNN Money Fear and Greed index showed an improvement in the overall market sentiment, while the index remained in the &#8220;Greed&#8221; zone on Thursday.
U.S. stocks settled mostly higher on Thursday, with the Dow Jones index climbing to a new record close following the release of economic data.
U.S. initial jobless claims fell by 19,000 in the week ending Oct. 12. U.S. retail sales rose 0.4% month-over-month in September compared to a 0.1% increase in August and higher than market estimates of a 0.3% rise. The Philadelphia Fed Manufacturing Index climbed to 10.3 in October compared to 1.7 in September and topping market estimates of 3.
Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) shares jumped around 9.8% on Thursday following better-than-expected third-quarter earnings and strong fourth-quarter guidance
Most sectors on the S&amp;P 500 closed on a negative note, with utilities, communication services, and real estate stocks recording the biggest losses on Thursday. However, energy and information technology stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed higher by around 161 points to 43,239.05 on Thursday. The S&amp;P 500 slipped 0.02% to 5,841.47, while the Nasdaq Composite rose 0.04% at 18,373.61 during Thursday's session.
Investors are awaiting earnings results from American Express Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>), The Procter &amp; Gamble Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>), and Schlumberger Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 71.5, the index remained in the &#8220;Greed&#8221; zone on Thursday, versus a prior reading of 69.5.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: 
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/10/41379749/abbvie-is-doing-very-well-but-jim-cramers-favorite-abbott-laboratories">AbbVie Is Doing &#8216;Very Well&#8217; But Jim Cramer&#8217;s Favorite? Abbott Laboratories</a></li>
</ul>
Photo courtesy: Shutterstock

TSMC, Strong Economic Data Push Dow To Fresh Record High: Investor Sentiment Improves, Fear Index Remains In 'Greed' Zone

With U.S. stock futures trading mixed this morning on Friday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects American Express Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>) to report quarterly earnings at $3.28 per share on revenue of $16.67 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. American Express shares gained 1.8% to $290.91 in after-hours trading.</li>
<li>Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) reported stronger-than-expected third-quarter financial results, posting revenue of $9.825 billion, up 15% year-over-year, versus market estimates of $9.769 billion. The company ended the third quarter with 282.72 million global paid subscribers, up 14.4% year-over-year. Netflix shares climbed 5.1% to $722.35 in the after-hours trading session.</li>
<li>Analysts are expecting The Procter &amp; Gamble Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) to post quarterly earnings at $1.90 per share on revenue of $21.91 billion. The company will release earnings before the markets open. Procter &amp; Gamble shares gained 0.1% to $172.50 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Intuitive Surgical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>) posted better-than-expected third-quarter financial results. The company also said it obtained regulatory clearance in South Korea for the da Vinci 5 surgical system in October. Intuitive Surgical shares climbed 6.1% to $502.80 in the after-hours trading session.</li>
<li>Analysts expect Schlumberger Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) to report quarterly earnings at 88 cents per share on revenue of $9.25 billion before the opening bell. SLB shares rose 0.4% to $44.16 in after-hours trading.</li>
</ul>
Check This Out: 
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/10/41379749/abbvie-is-doing-very-well-but-jim-cramers-favorite-abbott-laboratories">AbbVie Is Doing &#8216;Very Well&#8217; But Jim Cramer&#8217;s Favorite? Abbott Laboratories</a></li>
</ul>
Photo courtesy: Shutterstock

ISRG

NFLX

Netflix, American Express And 3 Stocks To Watch Heading Into Friday

MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) founder Michael Saylor encouraged those who doubt the upside potential of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) to go short on the company's stock, assuring that it would never sell the cryptocurrency.
What happened: During an interview with journalist Madison Reidy that aired Thursday, Saylor asked skeptics to "love" MicroStrategy if they really "hate" Bitcoin.
"We&#8217;re the perfect instrument to short because I promise you, I won&#8217;t sell it. We&#8217;re going to be leveraged long on Bitcoin," said Saylor, one of the most passionate advocates of the cryptocurrency.
&#8220;I want you to love us if you really hate BTC.&#8221;
Saylor said as a company, MicroStrategy has been consistent and transparent in its policy of buying and holding on to Bitcoin, and it was up to market participants to decide if they wanted to buy, sell, or short their shares.
"When I was a younger man I would have been concerned about people shorting my stock but now I&#8217;m not," Saylor added.&nbsp;
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41373332/donald-trump-backed-world-liberty-financial-off-to-a-slow-start-raises-just-4-of-the-token">Donald Trump-Backed World Liberty Financial Off To A Slow Start — Raises Just 4% Of The Token Fundraising Target</a>
Why It Matters: Saylor&#8217;s remarks came amid MicroStratgy&#8217;s audacious Bitcoin gambit, which has transformed the software development firm into a proxy for the world&#8217;s greatest digital asset.
MicroStrategy <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40306998/since-embracing-bitcoin-4-years-ago-michael-saylors-microstrategy-has-outperformed-warren-">adopted Bitcoin as its primary reserve asset</a> in 2020, becoming the first publicly listed company to pursue this strategy, and hasn't looked back since then. Today, it holds over $17 billion of its total capital in Bitcoin, <a href="https://bitcointreasuries.net/">according</a> to bitcointreasuries.net.
Saylor projects that by 2045, <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40916462/michael-saylor-bitcoin-to-hit-13m-by-2045-will-get-us-to-a-different-place#:~:text=Michael%20Saylor%3A%20Bitcoin%20To%20Hit,To%20A%20Different%20Place'%20%2D%20Benzinga">Bitcoin will constitute 7% of global financial capital</a>, implying a $13 million price per Bitcoin.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Michael Saylor: Why MicroStrategy's Bitcoin funding is NOT a glitch" width="500" height="281" src="https://www.youtube.com/embed/eThjo9wYoF0?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
Price Action: At the time of writing, Bitcoin was exchanging hands at $67,931.57, up 0.98% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. Shares of MicroStrategy closed down 0.35% to $193.42 during Thursday's regular trading session.
Read Next:&nbsp;
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Cryptocurrency

$BTC

MSTR

MicroStrategy Boss Michael Saylor Taunts Bitcoin Doubters, Challenges Them To Short Company's Stock: 'I Want You To Love Us If You Really Hate BTC'

Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) subsidiary Waymo is providing riders who <a href="https://www.benzinga.com/news/24/06/39494723/waymo-autonomous-rides-now-available-to-everyone-in-san-francisco-heres-how-you-can-enjoy-driverless">avail an autonomous ride</a> to select transit stations in San Francisco and the Peninsula $3 credit in a bid to promote public transportation, the company said on Thursday.
What Happened: Waymo will credit $3 to riders&#8217; accounts if they take an autonomous ride to or from eligible Bay Area transit stations. These credits can be used for future rides.
The program started on Oct. 17 and will go on till Nov.15. The credits can be used until Dec. 31, according to a statement from Waymo. 
&#8220;By offering electric rides on demand and improving access to public transit, Waymo One is making daily travel more sustainable and convenient,&#8221; said Adam Lenz, Head of Sustainability and Environment at Waymo.
Why It Matters: Waymo currently operates a fleet of all-electric vehicles that have been customized to enable autonomous driving. The company is delivering over 100,000 paid autonomous rides every week to the public, the company said on Thursday.
Automotive research firm&nbsp;S&amp;P Global Mobility&nbsp;said in September that it deems&nbsp;<a href="https://www.benzinga.com/news/24/09/40792410/us-autonomous-vehicle-sales-to-hit-230k-by-2034-after-progress-resumes-at-alphabets-waymo-gms-cruise" target="_blank" rel="noreferrer noopener">Waymo to be the frontrunner&nbsp;</a>in the field of autonomous vehicles in the U.S.&nbsp;
&nbsp;In July, Alphabet committed&nbsp;to a new multiyear&nbsp;<a href="https://www.benzinga.com/news/24/07/39924838/alphabet-commits-to-another-5b-investment-in-waymo-tesla-ceo-elon-musk-takes-jibe-at-cash-burn-in-un" target="_blank" rel="noreferrer noopener">investment of $5 billion into Waymo</a>&nbsp;to help the company "continue to build the world's leading autonomous driving technology company."
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
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Photo courtesy: Shutterstock

Tech

GOOG

GOOGL

Waymo Offers Free Credits To Riders Traveling To Select Transit Stations In The Bay Area: Here's How Much You Can Get

Coca-Cola Europacific Partners plc (&quot;CCEP&quot; or the &quot;Company&quot;) today confirms notification of transfer of UK listing category from the Equity Shares (Transition) category to the Equity Shares (Commercial Companies) category of the Official List

Coca-Cola European Partners plc Ordinary Shares

CCEP

Coca-Cola Europacific Partners To Shifts To Commercial Companies Category, Paving The Way For FTSE Index Eligibility

NYCB

Reported Earlier, Flagstar Bank, Subsidiary of New York Community Bancorp, Cuts 8% of Workforce In Strategic Transformation And Cost-Cutting Initiative

Lotus continues to achieve top-rate growth among traditional luxury car brands, delivering 7,543 vehicles1&nbsp;in the first nine months of 2024, representing a year-on-year increase of&nbsp;134%. Global allocation in terms of deliveries remained well-distributed, with Europe, China, North America and the Rest of the World regions each contributing about&nbsp;20-35%&nbsp;of the total deliveries. In the&nbsp;third quarter&nbsp;of 2024, Emeya (GT, Sedan) was delivered to Europe, whilst Eletre (SUV) reached markets including the GCC, Japan and Korea.

Reported Earlier, Lotus Technology Reports 134% YoY Vehicle Delivery Surge In First Nine Months Of 2024

Econ #s

U.K. Retail Sales (YoY) For September 3.9% Vs. 3.2% Est.; 2.3% (Revised) Prior

U.K. Retail Sales (MoM) For September 0.3% Vs. -0.3% Est.; 1.0% Prior

U.K. Core Retail Sales (MoM) For September 0.3% Vs. -0.3% Est.; 1.1% Prior

U.K. Core Retail Sales (YoY) For September 4.0% Vs. 3.2% Est.; 2.2% (Revised) Prior

Netflix Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) Co-CEO&nbsp;Ted Sarandos on Thursday outlined why the streaming giant continues to hold an edge over YouTube, a subsidiary of Alphabet Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google.
What Happened: During Netflix&#8217;s <a href="https://www.benzinga.com/news/earnings/24/10/41391637/netflix-q3-earnings-revenue-beats-eps-tops-q4-guidance-projects-subscriber-boost-from-squid-game-nf">third-quarter earnings</a> call, a question about&nbsp;YouTube&#8217;s growing share of TV&nbsp;consumption was raised.
In response, Sarandos highlighted Netflix&#8217;s commitment to investing in premium content to increase viewer engagement, stating, &#8220;Netflix is the best place&nbsp;for premium stories because we&#8217;re&nbsp;the home to the best&nbsp;storytellers.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/10/41375934/meta-confirms-layoffs-across-instagram-whatsapp-and-reality-labs-amid-strategic-reshuffle?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Meta Confirms Layoffs Across Instagram, WhatsApp And Reality Labs Amid Strategic Reshuffle</a>
Regarding YouTube, he said, &#8220;When I look at YouTube specifically, I&#8217;d say look, we compete directly with YouTube for people&#8217;s time, for the time they spend on that TV screen. But we have very different strengths.&#8221;
Another, Netflix Co-CEO Greg Peters added that Netflix plays a crucial role for consumers seeking high-quality movies and TV shows, and for creators looking for partners willing to share the inherent risks of bringing stories to life.
&#8220;A Hundred Years of Solitude, Senna, both coming from Latin America, which are huge, ambitious projects. It&#8217;s hard to imagine how those kind of big creative bets would be possible with YouTube&#8217;s model,&#8221; Peters stated.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: Netflix&#8217;s third-quarter financial results showed a 15% year-over-year increase in revenue, beating Street consensus estimates.
Moreover, Netflix&#8217;s recent foray into live sports programming indicates a strategic shift from its traditional on-demand model. This move aims to capture high-impact moments and the <a href="https://www.benzinga.com/general/entertainment/24/10/41395213/netflixs-200b-hour-problem-why-live-sports-are-just-a-drop-in-the-streaming-ocean">excitement of global live events</a>, further enhancing viewer engagement.
During the <a href="https://www.benzinga.com/news/earnings/24/07/39849026/netflix-q2-earnings-highlights-revenue-beat-eps-beat-advertising-revenue-more-meaningful-squid-game" target="_blank" rel="noreferrer noopener">second-quarter earnings</a> call, Netflix executives were asked questions about YouTube.
At the time, Sarandos&nbsp;said, &#8220;So our two services — us and YouTube represent about 50% of all streaming to the TV in the U.S. and we use the U.S. only because that's where we have the data.&#8221;
&#8220;So really what we're focused on here is focusing ourselves on that other 80% of total TV time that isn't going to either us or YouTube,&#8221; he said in July.
Sarandos <a href="https://www.benzinga.com/general/entertainment/24/07/39853498/netflix-aims-to-capture-broader-tv-market-sees-youtube-as-both-competitor-and-partner-we-ki">reiterated Netflix&#8217;s commitment to focus</a> on the remaining 80% of the market during the third-quarter call too.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Unsplash

Entertainment

Equities

Netflix's Ted Sarandos Downplays Concerns Of YouTube's Growing Share Of TV Consumption: 'We're The Home To The Best Storytellers'

Orders and deliveries
In Q3, net order intake decreased by 8% to 43,234 trucks and deliveries decreased by 16% to 46,266 units. Deliveries of heavyduty trucks decreased by 9%, of medium-duty trucks by 21% and of light-duty trucks by 61%.

VLVLY

Volvo's Q3 Saw 8% Drop In Net Order Intake To 43,234 Trucks, With Deliveries Down 16% To 46,266 Units

Volvo (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VLVLY#OTC">VLVLY</a>) reported quarterly earnings of $0.47 per share. This is a 26.18 percent decrease over earnings of $0.64 per share from the same period last year. The company reported $11.22 billion in sales this quarter. This is a 8.38 percent decrease over sales of $12.25 billion the same period last year

VLVCY

Volvo Q3 EPS $0.47 Down From $0.64 YoY, Sales $11.22B Down From $12.25B YoY

TaskUs, Inc. 2024 Q2 - Results - Earnings Call Presentation

TaskUs (TASK – Research Report), the Technology sector company, was revisited by a Wall Street analyst yesterday. Analyst Cassie Chan from Bank of ...

TaskUs Analysis: Strong Revenue Growth Offset by Margin Pressures and Future Profitability Concerns

Companies in the Technology sector have received a lot of coverage today as analysts weigh in on TaskUs (TASK – Research Report), Par Technology (P...

Analysts' Opinions Are Mixed on These Technology Stocks: TaskUs (TASK), Par Technology (PAR) and Shift4 Payments (FOUR)

Companies in the Technology sector have received a lot of coverage today as analysts weigh in on Trade Desk (TTD – Research Report), CS Disco (LAW ...

Analysts Offer Insights on Technology Companies: Trade Desk (TTD), CS Disco (LAW) and TaskUs (TASK)

J.P. Morgan analyst Puneet Jain maintained a Hold rating on TaskUs (TASK – Research Report) on August 9 and set a price target of $17.00. The compa...

TaskUs (TASK) Receives a Hold from J.P. Morgan

There's a lot to be optimistic about in the Technology sector as 3 analysts just weighed in on TaskUs (TASK – Research Report), Shift4 Payments (FO...

Analysts Offer Insights on Technology Companies: TaskUs (TASK), Shift4 Payments (FOUR) and Epam Systems (EPAM)

The technology industry is well-positioned for significant growth thanks to the growing demand for IT services and rapid technological penetration. Amid this backdrop, it could be wise to buy under $20 tech stocks, such as stocks TaskUs (TASK), PROS Holdings (PRO), and OneSpan (OSPN) with multibagger potential. Continue reading… Businesses heavily depend on software solutions to enhance operations, elevate customer experiences, gain data-driven insights, and protect their systems as they strive to adapt and stay competitive in the ever-changing digital landscape.
Thus, investors could consider adding fundamentally sound tech stocks TaskUs, Inc. (<a href="https://stocknews.com/stock/TASK/">TASK</a>), PROS Holdings, Inc. (<a href="https://stocknews.com/stock/PRO/">PRO</a>), and OneSpan Inc. (<a href="https://stocknews.com/stock/OSPN/">OSPN</a>) to their portfolios, which are currently trading under $20.
The growing demand for IT services for management and implementation is fueled by the widespread adoption of cloud computing and its benefits, such as scalability, cost savings, and automatic updates.
Companies are actively seeking automation solutions to boost productivity and streamline processes. Therefore, the global IT services market is expected to grow at a <a href="https://www.precedenceresearch.com/it-services-market">CAGR of 7.1%</a> by 2034.
Moreover, in today's technologically advanced world, the global cybersecurity market is crucial in safeguarding businesses, organizations, and individuals against cyber threats and attacks. The global cybersecurity market is expected to grow at a <a href="https://www.datamintelligence.com/research-report/cyber-security-market">CAGR of 11.3%</a> by 2031.
As companies are actively seeking upgradation, tech spending is flying high. According to Gartner, global IT spending is expected to grow by 7.5% this year, while software spending is projected to <a href="https://www.gartner.com/en/newsroom/press-releases/2024-07-16-gartner-forecasts-worldwide-it-spending-to-grow-7-point-5-percent-in-2024">grow by 12.6%</a> in the same period.
Considering these factors, let's take a look at the fundamentals of the three tech stock picks.
TaskUs, Inc. (<a href="https://stocknews.com/stock/TASK/">TASK</a>)
TASK provides digital outsourcing services for companies. It offers a digital customer experience that consists of omnichannel customer care services primarily delivered through non-voice digital channels and other solutions, including experience and customer care services for new product or market launches and customer acquisition solutions.
On June 3, 2024, TASK and AI-powered product support platform Mavenoid announced their strategic partnership. Together, TASK and Mavenoid would combine expertise in AI and personalized product support to optimize next-generation, personalized self-help product support solutions trusted by some of the world's leading consumer brands.
TASK's forward <a href="https://www.investopedia.com/terms/e/ev-ebitda.asp">EV/EBITDA</a> of 6.13x is 44.8% lower than the industry average of 11.12x. Its forward EV/EBIT multiple of 13.26 is 14.8% lower than the industry average of 15.56.
For the second quarter ended June 30, 2024, TASK reported service revenue at $237.94 million, up 3.8% year-over-year. Its adjusted EBITDA came in at $51.25 million. The company's adjusted net income stood at $28.64 million and $0.31 per share. In addition, as of June 30, 2024, the company's total assets stood at $886.15 million, compared to $864.20 million as of December 31, 2023.
Analysts expect TASK's revenue for the fourth quarter (ending December 2024) to increase 10% year-over-year to $256.73 million, while its EPS is expected to grow marginally year-over-year to $0.35. In addition, the company surpassed the consensus EPS and revenue estimates in each of the trailing four quarters.
Over the past year, the stock has gained 34.5% to close the last trading session at $13.40.
TASK's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect its robust outlook. The stock has an overall rating of A, which translates to a Strong Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
TASK has an A grade for Growth and a B for Quality and Value. It is ranked #6 out of 75 stocks in the <a href="https://stocknews.com/category/technology-services/">Technology - Services</a> industry.
Beyond what is stated above, we've also rated TASK for Stability, Sentiment, and Momentum. Get all TASK ratings <a href="https://stocknews.com/stock/TASK/">here</a>.
PROS Holdings, Inc. (<a href="https://stocknews.com/stock/PRO/">PRO</a>)
PRO provides software solutions that optimize selling and shopping processes in the digital economy in Europe, the Asia Pacific, the Middle East, Africa, and internationally.
PRO's forward Price/Sales of 2.71x is marginally lower than the industry average of 2.72x.
In the second quarter that ended June 30, 2024, PRO's total revenue increased 8% year-over-year to $82 million. Its gross profit grew 37.3% from the year-ago value to $53.19 million. Its non-GAAP net income and non-GAAP EPS were $3.25 million and $0.07 compared to non-GAAP net loss and non-GAAP loss per share of $309 thousand and $0.01, respectively.
Street expects PRO's revenue to increase 6.3% year-over-year to $82.09 million for the third quarter ending September 2024. The company's EPS for the same quarter is expected to be $0.09. Also, PRO surpassed the consensus revenue estimates in each of the trailing four quarters, which is impressive.
The stock has gained marginally intraday to close the last trading session at $19.01.
PRO's robust fundamentals are reflected in its POWR Ratings. It has an overall rating of B, which equates to a Buy in our proprietary rating system.
The stock has an A grade for Growth. PRO is ranked #29 out of 131 stocks in the <a href="https://stocknews.com/category/software-application/">Software - Application</a> industry.
<a href="https://stocknews.com/stock/PRO/">Click here</a> to access the additional PRO ratings (Momentum, Sentiment, Quality, Stability, and Value).
OneSpan Inc. (<a href="https://stocknews.com/stock/OSPN/">OSPN</a>)
OSPN designs, develops, and markets digital solutions for identity, authentication, and secure digital agreements worldwide. The company offers OneSpan Sign, OneSpan Cloud Authentication, and OneSpan Identity Verification.
On June 11, 2024, OSPN announced the launch of the OneSpan Integration Platform. This platform enables organizations to effortlessly integrate eSignatures into well-known applications, ensuring that sending, signing, and storing transactions is seamless and more efficient. 
OSPN's trailing-12-month Price/Sales of 2.30x is 15.5% lower than the industry average of 2.72x. Its forward EV/Sales multiple of 2.08 is 23.3% lower than the industry average of 2.71.
OSPN's total revenue for the fiscal second quarter that ended June 30, 2024, amounted to $60.92 million, up 9.3% year-over-year. Its gross profit rose 17.6% from the prior-year quarter to $40.34 million. The company's non-GAAP net income stood at $11.98 million and $0.31 per share, respectively, compared to a non-GAAP net loss of $7.28 million and $0.18 per share in the year-ago quarter.
For the quarter ending September 30, 2024, OSPN's EPS is expected to increase 114.8% year-over-year to $0.19. Its revenue for the same quarter is expected to be $55.31 million. It surpassed consensus revenue and EPS estimates in each of the trailing four quarters.
Over the past three months, the stock gained 29%, closing the last trading session at $15.48.
OSPN's POWR Ratings reflect bright prospects. The stock has an overall rating of B, which equates to a Buy in our proprietary rating system.
The stock has a B grade for Value and Growth. OSPN is ranked #4 out of 23 stocks in the B-rated <a href="https://stocknews.com/category/software-security/">Software - Security</a> industry.
In addition to the POWR Ratings highlighted above, one can access OSPN's ratings (Quality, Momentum, Stability, and Sentiment) <a href="https://stocknews.com/stock/OSPN/">here</a>.
What To Do Next?
Discover 10 widely held stocks that our proprietary model shows have tremendous downside potential. Please make sure none of these "death trap" stocks are lurking in your portfolio:
<a href="https://report.stocknews.com/free-report/10-stocks-to-sell/?formplacement=artbotad_10sell">10 Stocks to SELL NOW! &gt;</a>

<hr />
TASK shares were trading at $14.04 per share on Wednesday morning, up $0.64 (+4.78%). Year-to-date, TASK has gained 7.42%, versus a 15.21% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Nidhi Agarwal</h2> <img src='https:/wp-content/uploads/2023/03/Nidhi-Agarwal_Headshot-3.jpg' style="float:left; padding:5px;width:125px;">Nidhi is passionate about the capital market and wealth management, which led her to pursue a career as an investment analyst. She holds a bachelor's degree in finance and marketing and is pursuing the CFA program.

Her fundamental approach to analyzing stocks helps investors identify the best investment opportunities.<a href="https://stocknews.com/authors/?author=nidhi-agarwal">More...</a>The post <a href=https://stocknews.com/news/task-pro-ospn-3-tech-stocks-under-20-with-multibagger-potential/>3 Tech Stocks Under $20 With Multibagger Potential</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Tech Stocks Under $20 With Multibagger Potential

TaskUs: A Return To Growth But Margins Are Under Pressure

Worst performing U.S. technology stocks over the past 3 months

The tech sector thrives due to the rising demand for cybersecurity, automation, and data management, which drives significant investments from businesses and creates growth opportunities. As tech stocks show promising growth potential, it could be wise to consider affordable, high-growth tech stocks like TaskUs (TASK), Science Applications International (SAIC), and Teradata (TDC) now. Read on... As businesses continue to digitize, the demand for tech services like digital outsourcing, engineering, IT services, and multi-cloud enterprise analytics is soaring. This creates a compelling investment opportunity for value investors to consider affordable high-growth tech stocks like TaskUs, Inc. (<a href="https://stocknews.com/stock/TASK/">TASK</a>), Science Applications International Corporation (<a href="https://stocknews.com/stock/SAIC/">SAIC</a>), and Teradata Corporation (<a href="https://stocknews.com/stock/TDC/">TDC</a>).
This year, global IT spending reached <a href="https://www.statista.com/statistics/1375372/global-it-spending-forecast/">$5.27 trillion</a>, reflecting strong growth prospects ahead. The increasing demand for cloud solutions, cybersecurity, automation, and data management is driving both major corporations and small to medium enterprises (SMEs) to invest in IT services for enhanced operations and efficiency. This trend underscores the current optimism in the tech market.
Furthermore, the rise of smart devices, personalized services, and innovations like 5G are unlocking new opportunities across industries. Moreover, growing data security concerns and regulatory requirements, especially in healthcare and finance, are fueling investments in IT services. As a result, the U.S. IT services market is projected to grow at a <a href="https://www.grandviewresearch.com/industry-analysis/us-it-services-market-report">7.9% CAGR through 2030</a>.
Considering these conducive trends, let's assess the fundamentals of the three abovementioned <a href="https://stocknews.com/category/technology-services/">Technology – Services</a> picks, starting with number three.
Stock #3: TaskUs, Inc. (<a href="https://stocknews.com/stock/TASK/">TASK</a>)
TASK provides digital outsourcing services for companies internationally. It offers a digital customer experience consisting of omnichannel customer care services primarily delivered through non-voice digital channels, other solutions, including experience and customer care services for new products or market launches, and customer acquisition solutions.
In terms of forward non-GAAP <a href="https://www.investopedia.com/terms/p/price-earningsratio.asp">P/E</a>, TASK's 9.55x is 53.6% lower than the 9.55x industry average. Its 12.24x forward EV/EBIT is 28.1% lower than the 17.02x industry average. Moreover, its 1.25x forward EV/Sales is 35.8% lower than the 1.94x industry average.
TASK's revenue grew at a CAGR of 15.9% over the past three years. Similarly, its EBITDA grew at a CAGR of 6.3% during the same period.
TASK's service revenue for the second quarter, which ended June 30, 2024, stood at $237.94 million, up 3.8% year-over-year. Its adjusted EBITDA came in at $51.25 million. The company's adjusted net income stood at $28.64 million and $0.31 per share. Also, as of June 30, 2024, the company's total assets stood at $886.15 million, compared to $864.20 million as of December 31, 2023.
Street expects TASK's revenue for the quarter ended September 30, 2024, to increase 8.7% year-over-year to $245.33 million. Its EPS for the quarter ending December 31, 2024, is expected to rise marginally year-over-year to $0.35. TASK surpassed the consensus EPS estimates in each of the trailing four quarters. Over the past year, the stock has gained 51.3% to close the last trading session at $12.37.
TASK's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect robust prospects. It has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.
It is ranked #9 out of 76 stocks in the <a href="https://stocknews.com/category/technology-services/">Technology – Services</a> industry. It has a B grade for Growth, Value, and Quality. <a href="https://stocknews.com/stock/TASK/">Click here</a> to see TASK's Momentum, Stability, and Sentiment ratings.
Stock #2: Science Applications International Corporation (<a href="https://stocknews.com/stock/SAIC/">SAIC</a>) 
SAIC provides technical, engineering, and enterprise information technology (IT) services primarily in the United States. The company's offerings include a comprehensive range of engineering, technology, IT, logistics, training, simulation, and end-to-end services, including cloud migration, managed services, infrastructure modernization, and data management platform solutions.
On October 15, 2024, SAIC and Wind River announced an expanded strategic partnership to accelerate the development and deployment of mission-critical systems for U.S. Army and government customers. This collaboration will enhance product integration, speed up development, and improve system functionality.
On September 18, 2024, SAIC announced a $229 million contract to modernize IT solutions for NORAD and U.S. Northern Command, enhancing network resilience and cybersecurity.
In terms of the forward EV/Sales, SAIC's 1.28x is 34% lower than the 1.94x industry average. Its 16.32x forward EV/EBIT is 4.1% lower than the 17.02x industry average. Likewise, its 0.98x forward Price/Sales is 35.5% lower than the 1.52x industry average.
SAIC's EPS grew at a CAGR of 4.5% over the past three years. Moreover, its revenue grew at a CAGR of 5.5% over the past five years.
For the second quarter that ended August 2, 2024, SAIC's total revenues increased 1.9% year-over-year to $1.82 billion. Likewise, its adjusted operating income increased marginally over the prior-year quarter to $164 million. Furthermore, its non-GAAP net income came in at $105 million, while its non-GAAP EPS remained flat year-over-year at $2.05.
Analysts expect SAIC's revenue for the quarter ending October 31, 2024, to increase 2% year-over-year to $1.93 billion. Its EPS for the quarter ending January 31, 2025, is expected to grow 43.8% year-over-year to $2.06. Over the past year, the stock has gained 29% to close the last trading session at $147.24.
SAIC's positive outlook is reflected in its POWR Ratings. It has an overall rating of B, equating to a Buy in our proprietary rating system.
SAIC is ranked #8 in the same industry. It has a B grade for Growth, Value, and Momentum. To see SAIC's Stability, Sentiment, and Quality ratings, <a href="https://stocknews.com/stock/SAIC/">click here</a>.
Stock #1: Teradata Corporation (<a href="https://stocknews.com/stock/TDC/">TDC</a>) 
TDC provides a connected multi-cloud data platform for enterprise analytics. The company offers Teradata Vantage, a data platform that allows companies to leverage their data across an enterprise, as well as connects various sources of data to drive ecosystem simplification and support customers on their journey to the cloud through an integrated migration.
On October 8, 2024, TDC announced new capabilities for VantageCloud Lake and ClearScape Analytics, allowing businesses to deploy cost-effective generative AI solutions with NVIDIA AI, enhancing flexibility, security, and ROI.
On September 17, 2024, TDC announced new features for ClearScape Analytics to enhance AI/ML investments, improve data science productivity, and simplify AI operationalization. These updates include Spark-to-ClearScape conversion, AutoML, KNIME integration, and open-source ML capabilities.
In terms of forward EV/EBIT, TDC's 9.84x is 52.3% lower than the 20.64x industry average. Similarly, its 14.25x forward non-GAAP P/E is 41% lower than the 24.13x industry average. Also, its 1.72x forward non-GAAP PEG is 8.3% lower than the 1.87x industry average.
TDC's total revenues for the second quarter ended June 30, 2024, were $436 million. Its non-GAAP operating income was $96 million, up 33.3% year-over-year. Similarly, the company's non-GAAP net income and non-GAAP EPS increased by 26.5% and 33.3%, respectively, from the year-ago values, reaching $62 million and $0.64.
For the quarter ended September 30, 2024, TDC's EPS is expected to increase 33.7% year-over-year to $0.56. It surpassed the consensus EPS estimates in each of the trailing four quarters. Over the past month, the stock has gained 12.1% to close the last trading session at $31.97.
TDC's robust fundamentals are reflected in its POWR Ratings. It has an overall rating of A, which translates to a Strong Buy in our proprietary rating system.
It has an A grade for Value and Quality and a B for Growth and Sentiment. Within the Technology – Services industry, it is ranked #2. To access the additional POWR Ratings of TDC for Momentum and Stability, <a href="https://stocknews.com/stock/TDC/">click here</a>.
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SAIC shares were trading at $147.42 per share on Wednesday afternoon, up $1.07 (+0.73%). Year-to-date, SAIC has gained 19.97%, versus a 23.59% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Abhishek Bhuyan</h2> <img src='https:/wp-content/uploads/2023/07/ABhuyan.jpg' style="float:left; padding:5px;width:125px;">Abhishek embarked on his professional journey as a financial journalist due to his keen interest in discerning the fundamental factors that influence the future performance of financial instruments.<a href="https://stocknews.com/authors/?author=abhishek-bhuyan">More...</a>The post <a href=https://stocknews.com/news/saic-tdc-task-3-high-growth-tech-stocks-that-are-still-affordable/>3 High-Growth Tech Stocks That Are Still Affordable</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 High-Growth Tech Stocks That Are Still Affordable

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