Talkspace (NASDAQ:TALK) Upgraded by Wall Street Zen to “Strong-Buy” Rating

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

Several other equities analysts have also issued reports on the company. Barclays began coverage on Talkspace in a research note on Monday, December 8th. They issued an “equal weight” rating and a $3.50 target price on the stock. Canaccord Genuity Group set a $6.00 price objective on shares of Talkspace in a research report on Tuesday, December 30th. KeyCorp boosted their price objective on shares of Talkspace from $4.00 to $5.00 and gave the stock an “overweight” rating in a research note on Thursday, January 8th. Weiss Ratings reissued a “hold (c-)” rating on shares of Talkspace in a research report on Monday, December 29th. Finally, UBS Group reaffirmed a “buy” rating on shares of Talkspace in a report on Tuesday, December 30th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Talkspace currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.13.

Talkspace Stock Performance

NASDAQ TALK opened at $4.82 on Friday. The company has a market cap of $798.48 million, a PE ratio of 96.42 and a beta of 1.20. The firm’s 50 day moving average price is $3.97 and its 200-day moving average price is $3.29. Talkspace has a 52-week low of $2.22 and a 52-week high of $5.18.

Talkspace (NASDAQ:TALK) last posted its earnings results on Thursday, February 19th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $61.91 million. On average, analysts forecast that Talkspace will post 0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Talkspace

Several institutional investors and hedge funds have recently made changes to their positions in TALK. Invesco Ltd. increased 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 valued at $319,000 after acquiring an additional 8,015 shares during the period. Beartown Capital Management LLC purchased a new stake in Talkspace during the 4th quarter valued at about $1,089,000. XTX Topco Ltd increased its holdings in shares of Talkspace by 121.1% in the fourth quarter. XTX Topco Ltd now owns 132,409 shares of the company’s stock valued at $481,000 after purchasing an additional 72,512 shares during the period. nVerses Capital LLC acquired a new position in shares of Talkspace in the fourth quarter valued at about $66,000. Finally, Stoic Point Capital Management LLC purchased a new position in shares of Talkspace in the fourth quarter worth about $7,554,000. 57.37% of the stock is currently owned by institutional investors and hedge funds.

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.