Talkspace, Inc. (NASDAQ:TALK) Given Consensus Recommendation of “Hold” by Analysts

Shares of Talkspace, Inc. (NASDAQ:TALK) have been assigned a consensus rating of “Hold” from the nine ratings firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $5.5625.

TALK has been the topic of a number of recent analyst reports. KeyCorp lowered Talkspace from an “overweight” rating to a “hold” rating in a research report on Tuesday, March 10th. Needham & Company LLC lowered Talkspace from a “buy” rating to a “hold” rating in a research report on Monday, March 9th. Barclays cut their target price on Talkspace from $5.50 to $5.25 and set an “equal weight” rating on the stock in a research report on Monday, March 9th. Canaccord Genuity Group lowered Talkspace from a “buy” rating to a “hold” rating in a research report on Monday, March 9th. Finally, Wall Street Zen lowered Talkspace from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th.

Talkspace Stock Performance

Shares of TALK stock opened at $5.21 on Tuesday. Talkspace has a 1 year low of $2.22 and a 1 year high of $5.23. The stock has a market cap of $872.73 million, a PE ratio of 521.52 and a beta of 1.05. The business’s fifty day moving average is $5.19 and its 200-day moving average is $4.58.

Talkspace (NASDAQ:TALK) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.06). The firm had revenue of $61.68 million for the quarter, compared to analyst estimates of $63.32 million. Talkspace had a net margin of 0.49% and a return on equity of 1.03%. Equities research analysts predict that Talkspace will post 0.13 earnings per share for the current year.

Insider Buying and Selling at Talkspace

In other news, insider John Charles Reilly sold 55,144 shares of Talkspace stock in a transaction on Friday, June 12th. The stock was sold at an average price of $5.21, for a total transaction of $287,300.24. Following the transaction, the insider owned 1,057,975 shares in the company, valued at approximately $5,512,049.75. The trade was a 4.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 23.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TALK. AQR Capital Management LLC grew its holdings in shares of Talkspace by 963.3% during the first quarter. AQR Capital Management LLC now owns 464,599 shares of the company’s stock valued at $1,189,000 after buying an additional 420,906 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Talkspace by 2.8% during the first 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. Strs Ohio purchased a new position in shares of Talkspace during the first quarter valued at $58,000. Creative Planning grew its holdings in shares of Talkspace by 24.4% during the second quarter. Creative Planning now owns 80,904 shares of the company’s stock valued at $225,000 after buying an additional 15,881 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in Talkspace by 15.9% during the second quarter. Rhumbline Advisers now owns 171,477 shares of the company’s stock valued at $477,000 after purchasing an additional 23,497 shares during the last quarter. Hedge funds and other institutional investors own 57.37% of the company’s stock.

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.