Talkspace (NASDAQ:TALK) Rating Increased to Strong-Buy at Wall Street Zen

Talkspace (NASDAQ:TALK) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

Several other research firms have also weighed in on TALK. UBS Group reaffirmed a “buy” rating on shares of Talkspace in a report on Tuesday, December 30th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Talkspace in a report on Monday, December 29th. Needham & Company LLC upped their price objective on shares of Talkspace from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Thursday, February 19th. Zacks Research raised shares of Talkspace from a “strong sell” rating to a “hold” rating in a research note on Friday, October 31st. Finally, Barclays started coverage on Talkspace in a research report on Monday, December 8th. They set an “equal weight” rating and a $3.50 target price on the stock. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $5.13.

Talkspace Stock Up 0.4%

Shares of TALK stock opened at $4.82 on Friday. Talkspace has a 52-week low of $2.22 and a 52-week high of $5.18. The stock has a market cap of $798.48 million, a PE ratio of 96.42 and a beta of 1.20. The business has a 50-day simple moving average of $3.97 and a 200-day simple moving average of $3.29.

Talkspace (NASDAQ:TALK) last announced its quarterly earnings results on Thursday, February 19th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. Talkspace had a return on equity of 6.97% and a net margin of 3.40%.The company had revenue of $63.00 million during the quarter, compared to analysts’ expectations of $61.91 million. Sell-side analysts anticipate that Talkspace will post 0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TALK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Talkspace by 2.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 142,143 shares of the company’s stock valued at $364,000 after buying an additional 3,924 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Talkspace by 25.8% in the third quarter. Parallel Advisors LLC now owns 19,500 shares of the company’s stock valued at $54,000 after acquiring an additional 4,000 shares in the last quarter. Summit Global Investments boosted its stake in shares of Talkspace by 2.7% in the second quarter. Summit Global Investments now owns 168,082 shares of the company’s stock worth $467,000 after acquiring an additional 4,367 shares during the last quarter. Intech Investment Management LLC increased its position in shares of Talkspace by 11.9% during the fourth quarter. Intech Investment Management LLC now owns 49,701 shares of the company’s stock worth $180,000 after purchasing an additional 5,277 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Talkspace by 10.1% during the fourth quarter. Invesco Ltd. now owns 87,765 shares of the company’s stock worth $319,000 after purchasing an additional 8,015 shares in the last quarter. Institutional investors and hedge funds own 57.37% of the company’s stock.

About Talkspace

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.