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

Shares of Talkspace, Inc. (NASDAQ:TALK) have been given an average recommendation of “Moderate Buy” by the seven research firms that are presently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $4.8750.

Several equities research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Talkspace in a report on Monday, December 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Talkspace in a report on Tuesday, December 2nd. Barclays initiated coverage on shares of Talkspace in a report on Monday, December 8th. They set an “equal weight” rating and a $3.50 target price for the company. Canaccord Genuity Group set a $6.00 price target on shares of Talkspace in a report on Tuesday, December 30th. Finally, Wall Street Zen raised Talkspace from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th.

Talkspace Trading Up 2.0%

TALK opened at $4.05 on Friday. Talkspace has a 12 month low of $2.22 and a 12 month high of $4.36. The stock has a fifty day moving average price of $3.54 and a 200-day moving average price of $3.01. The firm has a market cap of $670.92 million, a price-to-earnings ratio of 135.05 and a beta of 1.18.

Talkspace (NASDAQ:TALK) last issued its quarterly earnings results on Thursday, October 30th. The company reported $0.02 earnings per share (EPS) for the quarter, hitting 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, equities research analysts forecast that Talkspace will post 0.08 EPS for the current year.

Hedge Funds Weigh In On Talkspace

Large investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Talkspace by 2.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 142,143 shares of the company’s stock worth $364,000 after acquiring an additional 3,924 shares during the period. Parallel Advisors LLC raised its position in shares of Talkspace by 25.8% during the 3rd quarter. Parallel Advisors LLC now owns 19,500 shares of the company’s stock worth $54,000 after purchasing an additional 4,000 shares during the last quarter. Summit Global Investments lifted its stake in Talkspace by 2.7% in the 2nd quarter. Summit Global Investments now owns 168,082 shares of the company’s stock valued at $467,000 after buying an additional 4,367 shares in the last quarter. Rhumbline Advisers boosted its holdings in Talkspace by 5.3% in the 3rd quarter. Rhumbline Advisers now owns 180,645 shares of the company’s stock worth $499,000 after buying an additional 9,168 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in Talkspace during the 3rd quarter worth approximately $25,000. 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.