Talkspace, Inc. (NASDAQ:TALK) Receives $4.83 Average Price Target from Brokerages

Talkspace, Inc. (NASDAQ:TALK) has earned an average rating of “Moderate Buy” from the six ratings firms that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $4.8333.

A number of brokerages have issued reports on TALK. Canaccord Genuity Group set a $6.00 target price on shares of Talkspace in a research report on Tuesday. Weiss Ratings reissued a “hold (c-)” rating on shares of Talkspace in a research report on Monday. Zacks Research upgraded Talkspace from a “strong sell” rating to a “hold” rating in a research note on Friday, October 31st. Needham & Company LLC reaffirmed a “buy” rating and issued a $5.00 target price on shares of Talkspace in a report on Tuesday, December 2nd. Finally, UBS Group reaffirmed a “buy” rating on shares of Talkspace in a research report on Tuesday.

Hedge Funds Weigh In On Talkspace

Hedge funds have recently modified their holdings of the stock. Nuveen LLC acquired a new position in Talkspace in the first quarter worth $573,000. Ieq Capital LLC bought a new position in shares of Talkspace in the first quarter valued at about $100,000. State of Wyoming lifted its position in Talkspace by 9.3% during the 1st quarter. State of Wyoming now owns 155,439 shares of the company’s stock worth $398,000 after buying an additional 13,245 shares in the last quarter. Metavasi Capital LP grew its holdings in Talkspace by 53.3% during the 1st quarter. Metavasi Capital LP now owns 1,139,099 shares of the company’s stock worth $2,916,000 after acquiring an additional 396,287 shares during the last quarter. Finally, Ancora Advisors LLC grew its holdings in Talkspace by 138.9% during the 1st quarter. Ancora Advisors LLC now owns 525,690 shares of the company’s stock worth $1,346,000 after acquiring an additional 305,660 shares during the last quarter. 57.37% of the stock is owned by institutional investors and hedge funds.

Talkspace Stock Performance

NASDAQ TALK opened at $3.63 on Tuesday. The stock has a market capitalization of $601.35 million, a P/E ratio of 121.04 and a beta of 1.18. The business’s fifty day moving average is $3.31 and its two-hundred day moving average is $2.88. Talkspace has a 1 year low of $2.22 and a 1 year high of $4.36.

Talkspace (NASDAQ:TALK) last issued its quarterly earnings results on Thursday, October 30th. The company reported $0.02 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.02. The business had revenue of $59.38 million for the quarter, compared to the consensus estimate of $57.45 million. Talkspace had a return on equity of 3.75% and a net margin of 1.98%. On average, research analysts forecast 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.