Talkspace (NASDAQ:TALK) Rating Lowered to “Buy” at Wall Street Zen

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

Several other brokerages also recently weighed in on TALK. Canaccord Genuity Group set a $6.00 price target on Talkspace in a report on Tuesday, December 30th. Barclays started coverage on Talkspace in a research report on Monday, December 8th. They issued an “equal weight” rating and a $3.50 price objective on the stock. Needham & Company LLC boosted their target price on shares of Talkspace from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. KeyCorp upped their price target on shares of Talkspace from $4.00 to $5.00 and gave the stock an “overweight” rating in a report on Thursday, January 8th. Finally, UBS Group reaffirmed a “buy” rating on shares of Talkspace in a research note on Tuesday, December 30th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $5.13.

Talkspace Trading Down 0.4%

Shares of TALK opened at $4.76 on Friday. The company’s fifty day simple moving average is $4.09 and its 200-day simple moving average is $3.38. The company has a market cap of $788.54 million, a P/E ratio of 95.22 and a beta of 1.18. Talkspace has a twelve month low of $2.22 and a twelve month high of $5.18.

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

Institutional Trading of Talkspace

A number of hedge funds have recently added to or reduced their stakes in TALK. Caitong International Asset Management Co. Ltd grew its holdings in Talkspace by 254.9% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 23,982 shares of the company’s stock worth $87,000 after acquiring an additional 17,225 shares in the last quarter. Invesco Ltd. lifted its position in shares of Talkspace by 10.1% in the 4th quarter. Invesco Ltd. now owns 87,765 shares of the company’s stock worth $319,000 after purchasing an additional 8,015 shares during the period. Beartown Capital Management LLC purchased a new stake in shares of Talkspace in the 4th quarter worth approximately $1,089,000. XTX Topco Ltd increased its holdings in Talkspace by 121.1% during the fourth quarter. XTX Topco Ltd now owns 132,409 shares of the company’s stock valued at $481,000 after buying an additional 72,512 shares during the period. Finally, nVerses Capital LLC purchased a new position in Talkspace during the fourth quarter valued at approximately $66,000. 57.37% of the stock is owned by hedge funds and other institutional investors.

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.