Talkspace, Inc. (NASDAQ:TALK) Receives Average Recommendation of “Moderate Buy” from Brokerages

Talkspace, Inc. (NASDAQ:TALK) has received a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $4.8750.

TALK has been the topic of a number of recent research reports. Zacks Research raised Talkspace from a “strong sell” rating to a “hold” rating in a research report on Friday, October 31st. Weiss Ratings restated a “hold (c-)” rating on shares of Talkspace in a report on Monday, December 29th. KeyCorp increased their price target on Talkspace from $4.00 to $5.00 and gave the company an “overweight” rating in a research report on Thursday, January 8th. Wall Street Zen raised Talkspace from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. Finally, Needham & Company LLC restated a “buy” rating and set a $5.00 target price on shares of Talkspace in a research note on Tuesday, December 2nd.

Institutional Investors Weigh In On Talkspace

A number of institutional investors and hedge funds have recently bought and sold shares of TALK. Royce & Associates LP grew its position in shares of Talkspace by 526.9% during the third quarter. Royce & Associates LP now owns 2,174,262 shares of the company’s stock worth $6,001,000 after acquiring an additional 1,827,459 shares during the last quarter. CenterBook Partners LP boosted its position in shares of Talkspace by 114.6% during the 2nd quarter. CenterBook Partners LP now owns 2,478,970 shares of the company’s stock worth $6,892,000 after purchasing an additional 1,323,964 shares in the last quarter. Balyasny Asset Management L.P. grew its holdings in shares of Talkspace by 42.5% in the 2nd quarter. Balyasny Asset Management L.P. now owns 2,021,738 shares of the company’s stock worth $5,620,000 after acquiring an additional 603,252 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Talkspace by 5.4% in the third quarter. Vanguard Group Inc. now owns 9,453,000 shares of the company’s stock valued at $26,090,000 after purchasing an additional 483,012 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its position in shares of Talkspace by 41.5% in the second quarter. First Eagle Investment Management LLC now owns 1,601,130 shares of the company’s stock valued at $4,451,000 after acquiring an additional 469,280 shares in the last quarter. 57.37% of the stock is owned by hedge funds and other institutional investors.

Talkspace Stock Performance

Shares of TALK opened at $4.05 on Friday. The company’s 50-day simple moving average is $3.54 and its 200-day simple moving average is $3.01. Talkspace has a 1 year low of $2.22 and a 1 year high of $4.36. The stock has a market capitalization of $670.92 million, a PE ratio of 135.05 and a beta of 1.18.

Talkspace (NASDAQ:TALK) last announced its earnings results on Thursday, October 30th. The company reported $0.02 earnings per share for the quarter, hitting the consensus estimate of $0.02. The firm had revenue of $59.38 million for the quarter, compared to the consensus estimate of $57.45 million. Talkspace had a net margin of 1.98% and a return on equity of 3.75%. On average, sell-side analysts predict that Talkspace will post 0.08 earnings per share for the current year.

Talkspace Company Profile

Talkspace, Inc (NASDAQ:TALK) is a digital mental health company that provides online therapy and psychiatry services through a secure, cloud-based platform. Headquartered in New York City, Talkspace enables individuals and couples to connect with licensed therapists and psychiatrists via text messaging, live audio, and video sessions. The company’s platform is accessible through web and mobile applications, allowing clients to seek professional support anytime and from any location with an internet connection.

The company’s core offerings include therapy plans that range from unlimited text-based messaging with a dedicated therapist to scheduled live video sessions.